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SolarEdge Technologies Inc. (NASDAQ: SEDG) Stock: Does It Have The Potential To Rise?

In today’s recent session, 2.19 million shares of the SolarEdge Technologies Inc. (NASDAQ:SEDG) have been traded, and its beta is 1.11. Most recently the company’s share price was $298.20, and it changed around -$67.21 or -18.39% from the last close, which brings the market valuation of the company to $18.27B. SEDG at last check was trading at a discount to its 52-week high of $389.71, offering almost -30.69% off that amount. The share price’s 52-week low was $200.86, which indicates that the recent value has risen by an impressive 32.64% since then. We note from SolarEdge Technologies Inc.’s average daily trading volume that its 10-day average is 1.21 million shares, with the 3-month average coming to 896.08K.

SolarEdge Technologies Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 1 out of 26 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended SEDG as a Hold, whereas 19 deemed it a Buy, and 1 rated it as Underweight. SolarEdge Technologies Inc. is expected to report earnings per share of $1.39 for the current quarter.

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SolarEdge Technologies Inc. (NASDAQ:SEDG) trade information

Instantly SEDG has been showing red trend so far today with a performance of -18.39% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 375.90 on Tuesday, 08/02/22 increased the stock’s daily price by 20.67%. The company’s shares are currently up 30.24% year-to-date, but still up 23.25% over the last five days. On the other hand, SolarEdge Technologies Inc. (NASDAQ:SEDG) is 32.25% up in the 30-day period. We can see from the shorts that 1.8 million shares have been sold at a short interest cover period of 2.15 day(s).

SolarEdge Technologies Inc. (SEDG) estimates and forecasts

SolarEdge Technologies Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 53.39 percent over the past six months and at a 42.41% annual growth rate that is well above the industry average of 24.20%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 8.60% in revenue this quarter, and will report an increase of 33.10% in the next quarter. The year-over-year growth rate is expected to be 55.40%, up from the previous year.

Consensus estimates provided by 18 financial analysts predict the company will bring in an average of $725.23 million in revenue for the current quarter. 17 analysts expect SolarEdge Technologies Inc. to make $813.27 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $455.49 million and $526.4 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 59.20%. Forecasts for the next quarter put sales growth at 54.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 39.50%. SolarEdge Technologies Inc. earnings are expected to increase by 15.20% in 2022, but the outlook is positive 29.81% per year for the next five years.

SEDG Dividends

SolarEdge Technologies Inc.’s next quarterly earnings report is expected to be released around May 02 and May 06.

SolarEdge Technologies Inc. (NASDAQ:SEDG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.06% of SolarEdge Technologies Inc. shares, and 84.70% of them are in the hands of institutional investors. The stock currently has a share float of 85.61%. SolarEdge Technologies Inc. stock is held by 1,017 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 8.28% of the shares, which is about 4.59 million shares worth $1.48 billion.

JP Morgan Chase & Company, with 4.52% or 2.5 million shares worth $806.98 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

iShares Global Clean Energy ETF and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2022. The former held 1.31 million shares worth $358.49 million, making up 2.36% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 1.15 million shares worth around $370.59 million, which represents about 2.08% of the total shares outstanding.

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