SolarEdge Technologies, Inc. (NASDAQ:SEDG) has a beta value of 0.76 and has seen 1,386,650 shares traded in the last trading session. The company, currently valued at $13.21 Billion, closed the last trade at $257.99 per share which meant it gained $13.94 on the day or 5.71% during that session. The SEDG stock price is -23.21% off its 52-week high price of $317.88 and 74.02% above the 52-week low of $67.02. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.08 Million shares traded. The 3-month trading volume is 1.48 Million shares.
The consensus among analysts is that SolarEdge Technologies, Inc. (SEDG) is a Hold stock at the moment, with a recommendation rating of 2.8. 2 analysts rate the stock as a Sell, while 1 rate it as Overweight. 8 out of 16 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.86.
SolarEdge Technologies, Inc. (NASDAQ:SEDG) trade information
Sporting 5.71% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Nov 20 when the SEDG stock price touched $262.82 or saw a rise of 1.84%. Year-to-date, SolarEdge Technologies, Inc. shares have moved 171.31%, while the 5-day performance has seen it change 16.42%. Over the past 30 days, the shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have changed -16.72%. Short interest in the company has seen 2.96 Million shares shorted with days to cover at 2.
Wall Street analysts have a consensus price target for the stock at $250.85, which means that the shares’ value could jump -2.77% from current levels. The projected low price target is $190 while the price target rests at a high of $364. In that case, then, we find that the current price level is +41.09% off the targeted high while a plunge would see the stock lose -26.35% from current levels.
SolarEdge Technologies, Inc. (SEDG) estimates and forecasts
Figures show that SolarEdge Technologies, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +88.95% over the past 6 months, with this year growth rate of -10.59%, compared to 20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -47.9% and -2.1% for the next quarter. Revenue growth from the last financial year stood is estimated to be +2.2%.
16 analysts offering their estimates for the company have set an average revenue estimate of $356.07 Million for the current quarter. 15 have an estimated revenue figure of $386.08 Million for the next quarter concluding in March 01, 2021. Year-ago sales stood $418.22 Million and $431.22 Million respectively for this quarter and the next, and analysts expect sales will grow by -14.9% for the current quarter and -10.5% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +39.2% over the past 5 years. Earnings growth for 2020 is a modest +8.9% while over the next 5 years, the company’s earnings are expected to increase by 20%.
SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s Major holders
Insiders own 3.48% of the company shares, while shares held by institutions stand at 88.75% with a share float percentage of 91.95%. Investors are also buoyed by the number of investors in a company, with SolarEdge Technologies, Inc. having a total of 638 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 5.37 Million shares worth more than $1.28 Billion. As of September 29, 2020, Blackrock Inc. held 10.49% of shares outstanding.
The other major institutional holder is Swedbank, with the holding of over 3.11 Million shares as of September 29, 2020. The firm’s total holdings are worth over $740.38 Million and represent 6.07% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Midcap ETF and Fidelity Contrafund Inc. As of September 29, 2020, the former fund manager holds about 2.56% shares in the company for having 1313221 shares of worth $313.01 Million while later fund manager owns 1.12 Million shares of worth $195.38 Million as of July 30, 2020, which makes it owner of about 2.18% of company’s outstanding stock.