Investors Purchase Large Volume of Call Options on SolarEdge Technologies (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) saw some unusual options trading activity on Monday. Stock investors purchased 20,055 call options on the company. This is an increase of 43% compared to the typical volume of 14,058 call options.

Insider Buying and Selling at SolarEdge Technologies

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

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd increased its stake in SolarEdge Technologies by 143.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock worth $2,701,000 after buying an additional 12,302 shares during the period. International Assets Investment Management LLC grew its holdings in SolarEdge Technologies by 20,293.3% during the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after acquiring an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in SolarEdge Technologies by 5.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock worth $2,782,000 after acquiring an additional 1,101 shares in the last quarter. Meitav Investment House Ltd. grew its holdings in SolarEdge Technologies by 27.2% during the 3rd quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock worth $61,231,000 after acquiring an additional 99,681 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its holdings in SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $56.77 on Wednesday. The company’s fifty day simple moving average is $68.43 and its 200-day simple moving average is $78.27. SolarEdge Technologies has a 52 week low of $53.59 and a 52 week high of $321.33. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.24 billion, a PE ratio of 126.16 and a beta of 1.51.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BMO Capital Markets lowered their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 21st. DZ Bank assumed coverage on shares of SolarEdge Technologies in a research report on Wednesday, April 17th. They issued a “hold” rating and a $62.00 price target on the stock. Mizuho lowered their price target on shares of SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. TD Cowen lowered their price target on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company lowered their price target on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Four 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $98.38.

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.