SolarEdge Technologies Sees Unusually High Options Volume (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was the target of unusually large options trading on Monday. Stock traders acquired 20,055 call options on the stock. This is an increase of 43% compared to the average daily volume of 14,058 call options.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SEDG shares. Canaccord Genuity Group started coverage on SolarEdge Technologies in a research report on Tuesday, January 16th. They set a “hold” rating and a $80.00 target price for the company. The Goldman Sachs Group lowered their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a report on Wednesday, January 24th. Mizuho lowered their price target on SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating for the company in a report on Friday. Janney Montgomery Scott cut SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Finally, Wells Fargo & Company lowered their price target on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and an average price target of $98.38.

SolarEdge Technologies Trading Down 2.3 %

Shares of SEDG stock opened at $54.51 on Tuesday. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 121.13 and a beta of 1.51. The stock has a 50-day moving average of $68.82 and a 200-day moving average of $78.74. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a 1-year low of $53.59 and a 1-year high of $321.33.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. On average, equities research analysts forecast that SolarEdge Technologies will post -4.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director More Avery bought 7,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the transaction, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. NBC Securities Inc. bought a new stake in shares of SolarEdge Technologies during the 3rd quarter valued at about $25,000. Manchester Capital Management LLC boosted its position in shares of SolarEdge Technologies by 1,345.0% during the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of SolarEdge Technologies during the 4th quarter valued at about $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 183 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 640 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.