In the last trading session, 3.63 million Solaredge Technologies Inc (NASDAQ:SEDG) shares changed hands as the company’s beta touched 1.54. With the company’s per share price at $14.66 changed hands at -$1.23 or -7.74% during last session, the market valuation stood at $849.55M. SEDG’s last price was a discount, traded about -603.62% off its 52-week high of $103.15. The share price had its 52-week low at $10.24, which suggests the last value was 30.15% up since then. When we look at Solaredge Technologies Inc’s average trading volume, we note the 10-day average is 5.13 million shares, with the 3-month average coming to 4.78 million.
Analysts gave the Solaredge Technologies Inc (SEDG) stock a consensus recommendation rating of Buy, calculated at a mean rating of 3.26. If we narrow down to specifics, the data shows that 1 out of 25 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 12 recommended SEDG as a Hold, 12 felt it is a Buy and 0 rated the stock as Underweight. Solaredge Technologies Inc’s EPS for the current quarter is expected to be -1.5.
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Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Instantly SEDG was in red as seen at the end of in last trading. With action 6.46%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -84.34%, with the 5-day performance at 6.46% in the green. However, in the 30-day time frame, Solaredge Technologies Inc (NASDAQ:SEDG) is -17.13% down. Looking at the short shares, we see there were 19.4 million shares sold at short interest cover period of 3.14 days.
The consensus price target for the stock as assigned by Wall Street analysts is 64, meaning bulls need an upside of 77.09% from its current market value. According to analyst projections, SEDG’s forecast low is 9 with 490 as the target high. To hit the forecast high, the stock’s price needs a -3242.43% plunge from its current level, while the stock would need to tank 38.61% for it to hit the projected low.
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 -69.05% over the past 6 months, a -504.37% in annual growth rate that is considerably lower than the industry average of -21.00%. Year-over-year growth is forecast to reach -69.11% down from the last financial year.
Consensus estimates given by 21 financial analysts project the company’s revenue in the current quarter to hit an average of 187.34M. 20 analysts are of the opinion that Solaredge Technologies Inc’s revenue for the current quarter will be 218.87M. The company’s revenue for the corresponding quarters a year ago was 316.04M and 204.4M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -40.72%. The estimates for the next quarter sales put growth at 7.08%.
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 -538.36%.
SEDG Dividends
Solaredge Technologies Inc is expected to release its next quarterly earnings report in January.
Solaredge Technologies Inc (NASDAQ:SEDG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.42% of Solaredge Technologies Inc shares while 104.39% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 105.90%. There are 104.39% institutions holding the Solaredge Technologies Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 13.857% of the shares, roughly 7.92 million SEDG shares worth $200.01 million.
GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC holds the second largest percentage of outstanding shares, with 5.8424% or 3.34 million shares worth $84.33 million as of 2024-06-30.
