Investors with significant funds have taken a bullish position in SolarEdge Technologies SEDG, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SEDG usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for SolarEdge Technologies. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 50% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $1,422,658, and there was a single call, worth $36,750.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $100.0 for SolarEdge Technologies, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for SolarEdge Technologies's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of SolarEdge Technologies's whale activity within a strike price range from $50.0 to $100.0 in the last 30 days.
SolarEdge Technologies 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SEDG | PUT | TRADE | NEUTRAL | 06/21/24 | $17.95 | $15.4 | $16.7 | $65.00 | $918.5K | 2.7K | 604 |
| SEDG | PUT | SWEEP | BEARISH | 06/21/24 | $21.2 | $19.15 | $21.2 | $70.00 | $190.8K | 1.3K | 90 |
| SEDG | PUT | TRADE | BEARISH | 06/21/24 | $31.65 | $27.55 | $31.0 | $80.00 | $105.4K | 219 | 90 |
| SEDG | PUT | TRADE | BULLISH | 06/21/24 | $17.6 | $17.1 | $17.1 | $65.00 | $92.3K | 2.7K | 54 |
| SEDG | PUT | TRADE | NEUTRAL | 12/20/24 | $43.95 | $41.15 | $42.4 | $90.00 | $42.4K | 22 | 10 |
About SolarEdge Technologies
SolarEdge Technologies designs, develops, and sells direct current optimized inverter systems for solar photovoltaic installations. The company system consists of power optimizers, inverters, and cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations. The company sells its products directly to solar installers, engineering, procurement, and construction firms and indirectly to solar installers through distributors and electrical equipment wholesalers.
After a thorough review of the options trading surrounding SolarEdge Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of SolarEdge Technologies
- With a volume of 531,737, the price of SEDG is up 0.96% at $48.48.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 63 days.
What Analysts Are Saying About SolarEdge Technologies
In the last month, 5 experts released ratings on this stock with an average target price of $58.2.
- An analyst from Roth MKM has decided to maintain their Neutral rating on SolarEdge Technologies, which currently sits at a price target of $60.
- An analyst from Canaccord Genuity persists with their Hold rating on SolarEdge Technologies, maintaining a target price of $58.
- An analyst from B of A Securities has decided to maintain their Underperform rating on SolarEdge Technologies, which currently sits at a price target of $44.
- An analyst from TD Cowen has decided to maintain their Buy rating on SolarEdge Technologies, which currently sits at a price target of $80.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Sell rating on SolarEdge Technologies with a target price of $49.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest SolarEdge Technologies options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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