In the latest trading session,, 0.37 million Solaredge Technologies Inc (NASDAQ:SEDG) shares changed hands as the company’s beta touched 1.49. With the company’s most recent per share price at $64.87 changing hands around $0.85 or 1.33% at last look, the market valuation stands at $3.71B. SEDG’s current price is a discount, trading about -396.67% off its 52-week high of $322.19. The share price had its 52-week low at $60.44, which suggests the last value was 6.83% up since then. When we look at Solaredge Technologies Inc’s average trading volume, we note the 10-day average is 2.1 million shares, with the 3-month average coming to 2.55 million.
Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Instantly SEDG is in green as seen in intraday trades today. With action 4.21%, the performance over the past five days has been green. The jump to weekly highs of 69.27 added 1.33% to the stock’s daily price. The company’s shares are showing year-to-date downside of -30.69%, with the 5-day performance at 4.21% in the green. However, in the 30-day time frame, Solaredge Technologies Inc (NASDAQ:SEDG) is -3.29% down. Looking at the short shares, we see there were 7.92 million shares sold at short interest cover period of 2.71 days.
Solaredge Technologies Inc (SEDG) estimates and forecasts
Data shows that the Solaredge Technologies Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -50.81% over the past 6 months, a -141.02% in annual growth rate that is considerably lower than the industry average of 7.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Solaredge Technologies Inc will fall -153.10%, while the growth in revenue is estimated to hit -135.90% for the next quarter. Year-over-year growth is forecast to reach -48.50% down from the last financial year.
Consensus estimates given by 23 financial analysts project the company’s revenue in the current quarter to hit an average of $196.05 million. 23 analysts are of the opinion that Solaredge Technologies Inc’s revenue for the quarter ending Jun 2024 will be $314.67 million. The company’s revenue for the corresponding quarters a year ago was $943.89 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -79.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -25.90%. The 2024 estimates are for Solaredge Technologies Inc earnings to decrease by -137.73%, but the outlook for the next 5-year period is at 2.83% per year.
SEDG Dividends
Solaredge Technologies Inc is expected to release its next quarterly earnings report between May 01 and May 06.
Solaredge Technologies Inc (NASDAQ:SEDG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.68% of Solaredge Technologies Inc shares while 101.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 102.50%. There are 101.81% institutions holding the Solaredge Technologies Inc stock share, with Blackrock Inc. the top institutional holder. As of Dec 30, 2023, the company held 15.67% of the shares, roughly 8.95 million SEDG shares worth $581.51 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.00% or 2.28 million shares worth $148.38 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Jan 30, 2024 were iShares Core S&P Smallcap ETF and Invesco ETF TR II-Invesco Solar ETF. With 3.86 million shares estimated at $250.83 million under it, the former controlled 6.76% of total outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held about 2.75% of the shares, roughly 1.57 million shares worth around $102.15 million.
