Stock traders are buying a high volume of SolarEdge Technologies call options (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) saw unusually heavy options trading activity on Tuesday. Equity investors bought 6,488 call options on the company. This is a 117% increase from the average volume of 2,992 call options.

Analyst upgrades and downgrades

A number of brokerages have published reports on SEDG. Morgan Stanley cut its price target on SolarEdge Technologies shares from $352.00 to $344.00 and set an “equal weight” rating on the stock in a Wednesday, Nov. 2 research note. TheStreet upgraded SolarEdge Technologies shares from a “b-” rating to a “c+” rating in a Wednesday, September 28 research report. Barclays began covering SolarEdge Technologies in a research report on Friday August 5. They set an “equal weight” rating and a price target of $389.00 on the stock. Northland Securities upgraded SolarEdge Technologies from an “underperforming” rating to a “market performing” rating in a research note on Tuesday. Finally, Truist Financial cut its price target on SolarEdge Technologies from $385.00 to $320.00 and placed a “buy” rating on the stock in a Tuesday, October 18 report. One research analyst rated the stock with a sell rating, eight assigned a hold rating, and fifteen assigned the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $349.71.

SolarEdge Technologies stock performance

The NASDAQ SEDG traded at $35.25 on Tuesday, hitting $246.55. The stock recorded a trading volume of 61,179 shares, compared to an average volume of 1,159,242 shares. The stock has a market capitalization of $13.66 billion, a P/E ratio of 96.64, a price-to-earnings growth ratio of 2.12 and a beta of 1.22. SolarEdge Technologies has a 12-month low of $190.15 and a 12-month high of $389.71. The company’s 50-day moving average price is $247.60 and its 200-day moving average price is $269.04. The company has a debt ratio of 0.33, a quick ratio of 2.96 and a current ratio of 3.73.

Insiders place their bets

In other news, manager More Avery sold 3,681 shares in a trade that took place on Saturday August 27. The shares were sold at an average price of $83.37, for a total value of $306,884.97. Following the completion of the sale, the director now owns 540,101 shares of the company, valued at approximately $45,028,220.37. The transaction was disclosed in a filing with the SEC, accessible via this link. In other SolarEdge Technologies news, Vice President Meir Adest sold 5,000 shares of the company in a trade dated Monday, September 19. The shares were sold at an average price of $307.75, for a total value of $1,538,750.00. Following the transaction, the vice president now owns 162,248 shares of the company, valued at $49,931,822. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Additionally, director More Avery sold 3,681 shares of the company in a trade that took place on Saturday, August 27. The shares were sold at an average price of $83.37, for a total transaction of $306,884.97. Following the completion of the sale, the administrator now directly owns 540,101 shares of the company, valued at $45,028,220.37. The disclosure of this sale can be found here. Insiders sold 14,178 shares of the company valued at $3,530,473 in the past ninety days. Insiders of the company own 1.17% of the shares of the company.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Michigan Retirement System increased its stake in SolarEdge Technologies by 0.3% in the first quarter. State of Michigan Retirement System now owns 13,236 shares of the semiconductor company valued at $4,267,000 after buying 36 additional shares during the period. Albion Financial Group UT increased its stake in SolarEdge Technologies by 0.6% during the 2nd quarter. Albion Financial Group UT now owns 6,288 shares of the semiconductor company valued at $1,721,000 after acquiring 39 additional shares in the last quarter. JW Cole Advisors Inc. increased its position in SolarEdge Technologies by 2.0% during the second quarter. JW Cole Advisors Inc. now owns 2,118 shares of the semiconductor company worth $580,000 after acquiring 41 additional shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of SolarEdge Technologies by 79.2% in Q2. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company valued at $26,000 after buying 42 more shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of SolarEdge Technologies by 2.8% in the second quarter. Cetera Investment Advisers now owns 1,538 shares of the semiconductor company valued at $421,000 after buying 42 additional shares during the period. Hedge funds and other institutional investors hold 81.86% of the company’s shares.

SolarEdge Technologies Company Profile

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SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: solar, energy storage, e-mobility, critical power and automation machinery. The company offers inverters, power optimizers, communication devices and smart energy management solutions used in residential, commercial and small-scale solar installations; and a cloud-based monitoring platform that collects and processes information from power optimizers and inverters, as well as monitors and manages the solar PV system.

Further reading

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