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

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock investors acquired 18,109 call options on the company. This is an increase of approximately 31% compared to the typical volume of 13,797 call options.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays boosted their target price on SolarEdge Technologies from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group increased their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group increased their price target on SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday. Susquehanna reduced their price target on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Royal Bank of Canada increased their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $16.32.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now directly owns 274,478 shares of the company's stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds have recently modified their holdings of SEDG. Fifth Third Bancorp raised its holdings in SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after buying an additional 790 shares in the last quarter. US Bancorp DE boosted its holdings in SolarEdge Technologies by 25.2% during the first quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock worth $74,000 after buying an additional 918 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of SolarEdge Technologies by 1.5% during the first quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company's stock worth $1,075,000 after purchasing an additional 1,000 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of SolarEdge Technologies by 32.4% during the first quarter. PNC Financial Services Group Inc. now owns 7,851 shares of the semiconductor company's stock worth $127,000 after buying an additional 1,921 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after buying an additional 1,954 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Trading Up 6.3 %

SolarEdge Technologies stock traded up $1.16 during midday trading on Friday, reaching $19.45. The stock had a trading volume of 4,657,146 shares, compared to its average volume of 4,366,153. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $56.52. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -0.62 and a beta of 1.50. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $14.62 and a 200 day moving average of $14.64.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.12. The firm had revenue of $219.48 million for the quarter, compared to analysts' expectations of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.90) EPS. On average, analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

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.