SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) saw some unusual options trading activity on Tuesday. Traders purchased 22,905 call options on the company. This represents an increase of 29% compared to the typical volume of 17,767 call options.
SolarEdge Technologies Stock Performance
Shares of NASDAQ SEDG traded up $2.05 during midday trading on Tuesday, hitting $14.37. 13,738,875 shares of the stock traded hands, compared to its average volume of 3,697,776. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The firm has a market capitalization of $832.74 million, a P/E ratio of -0.49 and a beta of 1.56. The firm has a 50-day moving average of $15.08 and a two-hundred day moving average of $23.15. SolarEdge Technologies has a one year low of $10.24 and a one year high of $103.15.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $272.80 million. During the same quarter in the previous year, the business earned ($1.03) EPS. The company's quarterly revenue was down 64.0% on a year-over-year basis. On average, equities analysts forecast that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SEDG has been the subject of a number of research analyst reports. Guggenheim upgraded SolarEdge Technologies from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. 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 report on Thursday, November 7th. William Blair initiated coverage on SolarEdge Technologies in a report on Thursday, August 29th. They issued a "market perform" rating on the stock. Susquehanna decreased their price target on shares of SolarEdge Technologies from $20.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Finally, Jefferies Financial Group cut SolarEdge Technologies from a "hold" rating to an "underperform" rating and reduced their price target for the stock from $27.00 to $17.00 in a research report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of "Hold" and an average price target of $22.40.
Check Out Our Latest Research Report on SEDG
Insider Activity
In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following 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 position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.67% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of SEDG. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies in the second quarter worth $28,000. KBC Group NV increased its stake in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after acquiring an additional 1,378 shares during the period. US Bancorp DE raised its stake in shares of SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock valued at $156,000 after buying an additional 4,834 shares during the last quarter. GFG Capital LLC acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $229,000. Finally, Magnetar Financial LLC acquired a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at about $286,000. Hedge funds and other institutional investors own 95.10% of the company's stock.
About SolarEdge Technologies
(
Get Free Report)
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.
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