SolarEdge Technologies Inc. (NASDAQ:SEDG) has a beta value of 1.31 and has seen 1.02 million shares traded in the last trading session. The company, currently valued at $16.77B, closed the last trade at $308.37 per share which meant it lost -$0.81 on the day or -0.26% during that session. The SEDG stock price is -21.9% off its 52-week high price of $375.90 and 38.34% above the 52-week low of $190.15. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.97 million shares traded. The 3-month trading volume is 1.05 million shares.
The consensus among analysts is that SolarEdge Technologies Inc. (SEDG) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 7 out of 27 have rated it as a Hold, with 18 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.44.
SolarEdge Technologies Inc. (NASDAQ:SEDG) trade information
Sporting -0.26% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the SEDG stock price touched $308.37 or saw a rise of 6.24%. Year-to-date, SolarEdge Technologies Inc. shares have moved 8.86%, while the 5-day performance has seen it change -3.69%. Over the past 30 days, the shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) have changed -4.58%. Short interest in the company has seen 2.04 million shares shorted with days to cover at 1.93.
SolarEdge Technologies Inc. (SEDG) estimates and forecasts
Figures show that SolarEdge Technologies Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 3.00% over the past 6 months, with this year growth rate of -1.04%, compared to -5.60% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -0.70% and 60.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 56.20%.
19 analysts offering their estimates for the company have set an average revenue estimate of $822.37 million for the current quarter. 19 have an estimated revenue figure of $856.78 million for the next quarter concluding in Dec 2022. Year-ago sales stood $526.4 million and $551.91 million respectively for this quarter and the next, and analysts expect sales will grow by 56.20% for the current quarter and 55.20% 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 39.50% over the past 5 years. Earnings growth for 2023 is a modest 15.20% while over the next 5 years, the company’s earnings are expected to increase by 32.89%.
SolarEdge Technologies Inc. is expected to release its next earnings report between February 13 and February 17 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
SolarEdge Technologies Inc. (NASDAQ:SEDG)’s Major holders
Insiders own 1.17% of the company shares, while shares held by institutions stand at 88.98% with a share float percentage of 90.03%. Investors are also buoyed by the number of investors in a company, with SolarEdge Technologies Inc. having a total of 999 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 5.6 million shares worth more than $1.53 billion. As of Jun 29, 2022, Blackrock Inc. held 10.12% of shares outstanding.
The other major institutional holder is JP Morgan Chase & Company, with the holding of over 2.23 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $611.52 million and represent 4.03% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Global Clean Energy ETF and Vanguard 500 Index Fund. As of Sep 29, 2022, the former fund manager holds about 2.31% shares in the company for having 1.28 million shares of worth $295.64 million while later fund manager owns 1.23 million shares of worth $335.55 million as of Jun 29, 2022, which makes it owner of about 2.21% of company’s outstanding stock.