During the last session, Solaredge Technologies Inc (NASDAQ:SEDG)’s traded shares were 3.25 million, with the beta value of the company hitting 1.53. At the end of the trading day, the stock’s price was $10.73, reflecting an intraday loss of -1.29% or -$0.14. The 52-week high for the SEDG share is $103.15, that puts it down -861.32 from that peak though still a striking 4.57% gain since the share price plummeted to a 52-week low of $10.24. The company’s market capitalization is $621.81M, and the average intraday trading volume over the past 10 days was 8.16 million shares, and the average trade volume was 4.52 million shares over the past three months.
Solaredge Technologies Inc (SEDG) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 3.26. SEDG has a Sell rating from 1 analyst(s) out of 25 analysts who have looked at this stock. 12 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 12 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -1.48.
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Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Solaredge Technologies Inc (SEDG) registered a -1.29% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.29% in intraday trading to $10.73, hitting a weekly high. The stock’s 5-day price performance is -16.37%, and it has moved by -28.20% in 30 days. Based on these gigs, the overall price performance for the year is -86.40%. The short interest in Solaredge Technologies Inc (NASDAQ:SEDG) is 19.16 million shares and it means that shorts have 5.25 day(s) to cover.
The consensus price target of analysts on Wall Street is $64, which implies an increase of 83.23% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9 and $490 respectively. As a result, SEDG is trading at a discount of -4466.64% off the target high and 16.12% off the low.
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 -77.27% during the last six months, with a year-to-date growth rate less than the industry average at -505.10% against -19.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -60.91% this quarter and then jump 33.91% in the quarter after that. In the rating firms’ projections, revenue will decrease -69.07% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 188.76M as predicted by 21 analyst(s). Meanwhile, a consensus of 20 analyst(s) estimates revenue growth to 219.66M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 316.04M and 204.4M respectively. In this case, analysts expect current quarter sales to shrink by -40.28% and then jump by 7.46% in the coming quarter.
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 -527.35% in 2024.
SEDG Dividends
Solaredge Technologies Inc is due to release its next quarterly earnings in December. 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 1.42% of total outstanding shares while institutional holders control 104.36%, with the float percentage being 105.87%. BLACKROCK INC. is the largest shareholder of the company, while 508.0 institutions own stock in it. As of 2024-06-30, the company held over 7.92 million shares (or 13.857% of all shares), a total value of $200.01 million in shares.
The next largest institutional holding, with 3.34 million shares, is of GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC’s that is approximately 5.8424% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $84.33 million.
