Stock Traders Buy High Volume of SolarEdge Technologies Put Options (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 25,165 put options on the company. This is an increase of 67% compared to the average volume of 15,114 put options.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Accent Capital Management LLC purchased a new stake in shares of SolarEdge Technologies during the third quarter worth $25,000. Edmond DE Rothschild Holding S.A. boosted its position in SolarEdge Technologies by 60.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Whittier Trust Co. acquired a new position in SolarEdge Technologies during the third quarter worth about $27,000. Hantz Financial Services Inc. grew its stake in SolarEdge Technologies by 352.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 733 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 571 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in SolarEdge Technologies in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $31.94 on Friday. The stock has a market capitalization of $1.91 billion, a P/E ratio of -3.30 and a beta of 1.67. The business has a 50 day simple moving average of $36.87 and a two-hundred day simple moving average of $29.71. SolarEdge Technologies has a 12 month low of $11.00 and a 12 month high of $48.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.28 and a quick ratio of 1.60.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of SolarEdge Technologies from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Wall Street Zen upgraded SolarEdge Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup lifted their price target on SolarEdge Technologies from $9.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, October 21st. Susquehanna increased their price target on SolarEdge Technologies from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, Guggenheim raised their price objective on SolarEdge Technologies from $5.00 to $7.00 and gave the company a “sell” rating in a report on Monday, August 25th. Eighteen equities research analysts have rated the stock with a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $24.62.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.