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

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was the target of some unusual options trading on Tuesday. Investors bought 22,905 call options on the company. This is an increase of approximately 29% compared to the average daily volume of 17,767 call options.

Wall Street Analysts Forecast Growth

SEDG has been the topic of several research analyst reports. Truist Financial reduced their price objective on SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. BMO Capital Markets decreased their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, November 7th. Susquehanna cut their target price on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Mizuho cut shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $11.00 in a research report on Thursday, November 7th. Eight equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.40.

Insider Activity

In other news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of SolarEdge Technologies in the second quarter valued at $28,000. KBC Group NV grew its stake in SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares in the last quarter. US Bancorp DE grew its position in SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares in the last quarter. GFG Capital LLC purchased a new position in shares of SolarEdge Technologies during the 3rd quarter valued at $229,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in SolarEdge Technologies in the 3rd quarter worth about $278,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Up 22.0 %

Shares of SEDG stock traded up $2.71 during trading hours on Tuesday, hitting $15.03. 9,158,499 shares of the company were exchanged, compared to its average volume of 3,677,957. The stock has a market capitalization of $870.99 million, a price-to-earnings ratio of -0.51 and a beta of 1.56. The business’s 50-day simple moving average is $15.08 and its two-hundred day simple moving average is $23.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a one year low of $10.24 and a one year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. SolarEdge Technologies’s quarterly revenue was down 64.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.03) EPS. Sell-side analysts predict that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.

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.