Solaredge Technologies Inc (NASDAQ: SEDG) Surged 1.98% In 6 Months – Here’s What To Expect Next

During the last session, Solaredge Technologies Inc (NASDAQ:SEDG)’s traded shares were 1.15 million, with the beta value of the company hitting 1.49. At the end of the trading day, the stock’s price was $68.39, reflecting an intraday gain of 2.24% or $1.5. The 52-week high for the SEDG share is $322.19, that puts it down -371.11 from that peak though still a striking 11.62% gain since the share price plummeted to a 52-week low of $60.44. The company’s market capitalization is $3.91B, and the average intraday trading volume over the past 10 days was 1.62 million shares, and the average trade volume was 2.54 million shares over the past three months.

Solaredge Technologies Inc (NASDAQ:SEDG) trade information

Solaredge Technologies Inc (SEDG) registered a 2.24% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.24% in intraday trading to $68.39, hitting a weekly high. The stock’s 5-day price performance is 7.82%, and it has moved by 1.98% in 30 days. Based on these gigs, the overall price performance for the year is -77.50%. The short interest in Solaredge Technologies Inc (NASDAQ:SEDG) is 7.75 million shares and it means that shorts have 2.91 day(s) to cover.

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Solaredge Technologies Inc (SEDG) estimates and forecasts

Statistics show that Solaredge Technologies Inc has underperformed its competitors in share price, compared to the industry in which it operates. Solaredge Technologies Inc (SEDG) shares have gone down -44.20% during the last six months, with a year-to-date growth rate less than the industry average at -144.66% against 3.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -153.40% this quarter and then drop -135.90% in the quarter after that. In the rating firms’ projections, revenue will decrease -48.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $196.05 million as predicted by 23 analyst(s). Meanwhile, a consensus of 23 analyst(s) estimates revenue growth to $314.67 million by the end of Jun 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -25.90%. While earnings are projected to return -137.88% in 2024, the next five years will return 2.83% per annum.

SEDG Dividends

Solaredge Technologies Inc is due to release its next quarterly earnings between May 01 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Solaredge Technologies Inc (NASDAQ:SEDG)’s Major holders

Solaredge Technologies Inc insiders own 0.68% of total outstanding shares while institutional holders control 101.80%, with the float percentage being 102.50%. Blackrock Inc. is the largest shareholder of the company, while 754 institutions own stock in it. As of Jun 29, 2023, the company held over 5.86 million shares (or 10.36% of all shares), a total value of $1.58 billion in shares.

The next largest institutional holding, with 2.44 million shares, is of Vanguard Group Inc’s that is approximately 4.31% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $655.69 million.

Also, the Mutual Funds coming in first place with the largest holdings of Solaredge Technologies Inc (SEDG) shares are Vanguard 500 Index Fund and iShares Global Clean Energy ETF. Data provided on Jun 29, 2023 indicates that Vanguard 500 Index Fund owns about 1.34 million shares. This amounts to just over 2.37 percent of the company’s overall shares, with a $360.96 million market value. The same data shows that the other fund manager holds slightly less at 1.06 million, or about 1.88% of the stock, which is worth about $172.65 million.