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

SolarEdge Technologies, Inc. (NASDAQ:SEDG) saw some unusual options trading activity on Tuesday. Stock traders purchased 22,905 call options on the company. This represents an increase of approximately 29% compared to the typical daily volume of 17,767 call options.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of SolarEdge Technologies by 798.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 197,679 shares of the semiconductor company’s stock valued at $4,993,000 after buying an additional 175,671 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in SolarEdge Technologies by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 700 shares during the period. Slow Capital Inc. lifted its holdings in SolarEdge Technologies by 15.6% during the second quarter. Slow Capital Inc. now owns 45,861 shares of the semiconductor company’s stock valued at $1,158,000 after purchasing an additional 6,180 shares during the last quarter. Bank of New York Mellon Corp boosted its position in SolarEdge Technologies by 23.7% during the second quarter. Bank of New York Mellon Corp now owns 357,830 shares of the semiconductor company’s stock worth $9,039,000 after purchasing an additional 68,444 shares during the period. Finally, Meitav Investment House Ltd. boosted its position in SolarEdge Technologies by 33.1% during the second quarter. Meitav Investment House Ltd. now owns 531,044 shares of the semiconductor company’s stock worth $13,412,000 after purchasing an additional 132,068 shares during the period. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $13.84 on Thursday. The company has a market capitalization of $802.03 million, a P/E ratio of -0.48 and a beta of 1.56. The company’s 50-day moving average is $14.89 and its 200 day moving average is $22.85. 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 fifty-two week low of $10.24 and a fifty-two week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results 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). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter in the previous year, the firm earned ($1.03) earnings per share. The firm’s revenue was down 64.0% compared to the same quarter last year. On average, equities research analysts forecast that SolarEdge Technologies will post -19.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised SolarEdge Technologies from a “sell” rating to a “buy” rating and raised their price objective for the company from $10.00 to $19.00 in a research note on Tuesday. Citigroup reduced their price target on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Barclays decreased their price target on shares of SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. William Blair started coverage on shares of SolarEdge Technologies in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Eight investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.40.

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.