Check Out What Whales Are Doing With SEDG

Investors with a lot of money to spend have taken a bearish stance on SolarEdge Technologies SEDG.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SEDG, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for SolarEdge Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 10% bullish and 90%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $809,393, and 3 are calls, for a total amount of $108,260.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $125.0 for SolarEdge Technologies over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in SolarEdge Technologies's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to SolarEdge Technologies's substantial trades, within a strike price spectrum from $50.0 to $125.0 over the preceding 30 days.

SolarEdge Technologies 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SEDG PUT SWEEP BEARISH 03/15/24 $105.00 $478.9K 112 112
SEDG PUT SWEEP BEARISH 03/15/24 $66.00 $91.6K 1.7K 1.2K
SEDG PUT SWEEP BEARISH 03/15/24 $66.00 $74.7K 1.7K 798
SEDG PUT SWEEP BEARISH 03/15/24 $66.00 $70.3K 1.7K 409
SEDG CALL SWEEP BULLISH 07/19/24 $65.00 $48.7K 46 46

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.

Current Position of SolarEdge Technologies

  • With a volume of 1,043,345, the price of SEDG is down -1.22% at $63.78.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 47 days.

What Analysts Are Saying About SolarEdge Technologies

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $83.6.

  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on SolarEdge Technologies with a target price of $73.
  • An analyst from Mizuho persists with their Buy rating on SolarEdge Technologies, maintaining a target price of $106.
  • An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on SolarEdge Technologies, which currently sits at a price target of $81.
  • An analyst from Citigroup has decided to maintain their Neutral rating on SolarEdge Technologies, which currently sits at a price target of $83.
  • Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for SolarEdge Technologies, targeting a price of $75.

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
ticker
Put/Call
Strike Price
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Posted In: OptionsMarketsBZI-UOA
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