Stock Traders Purchase High Volume of Solaredge Technologies Put Options (SEDG)
Solaredge Technologies Inc (NASDAQ:SEDG) was the target of some unusual options trading on Monday. Stock traders acquired 3,728 put options on the stock. This represents an increase of approximately 947% compared to the typical volume of 356 put options.
A number of equities analysts have recently commented on SEDG shares. BidaskClub cut Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, May 25th. Roth Capital set a $70.00 target price on Solaredge Technologies and gave the stock a “buy” rating in a report on Saturday, May 26th. ValuEngine cut Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research cut Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, B. Riley set a $64.00 target price on Solaredge Technologies and gave the stock a “buy” rating in a report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $58.36.
SEDG opened at $42.10 on Tuesday. Solaredge Technologies has a 52-week low of $25.25 and a 52-week high of $70.74. The firm has a market cap of $1.92 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.68 and a beta of -0.51.
In other Solaredge Technologies news, VP Meir Adest sold 28,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $55.48, for a total transaction of $1,553,440.00. Following the completion of the transaction, the vice president now owns 341,040 shares in the company, valued at approximately $18,920,899.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 53,601 shares of company stock valued at $2,837,334 in the last 90 days. 9.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ayalon Holdings Ltd. purchased a new position in Solaredge Technologies during the 2nd quarter valued at $134,000. NewSquare Capital LLC purchased a new position in Solaredge Technologies during the 2nd quarter valued at $161,000. Sei Investments Co. boosted its holdings in Solaredge Technologies by 114.4% during the 1st quarter. Sei Investments Co. now owns 3,107 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 1,658 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Solaredge Technologies during the 2nd quarter valued at $193,000. Finally, Cypress Capital Group purchased a new position in Solaredge Technologies during the 1st quarter valued at $201,000. Institutional investors own 73.77% of the company’s stock.
About Solaredge Technologies
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.
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