Solaredge Technologies Inc (NASDAQ:SEDG) has a beta value of 1.55 and has seen 2.49 million shares traded in the last trading session. The company, currently valued at $777.71M, closed the last trade at $13.35 per share which meant it gained $0.07 on the day or 0.53% during that session. The SEDG stock price is -672.66% off its 52-week high price of $103.15 and 23.3% above the 52-week low of $10.24. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.97 million shares traded. The 3-month trading volume is 4.81 million shares.
The consensus among analysts is that Solaredge Technologies Inc (SEDG) is Buy stock at the moment, with a recommendation rating of 3.26. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 12 out of 25 have rated it as a Hold, with 12 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -1.52.
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Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Sporting 0.53% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the SEDG stock price touched $13.35 or saw a rise of 13.54%. Year-to-date, Solaredge Technologies Inc shares have moved -85.74%, while the 5-day performance has seen it change 4.46%. Over the past 30 days, the shares of Solaredge Technologies Inc (NASDAQ:SEDG) have changed 10.33%. Short interest in the company has seen 19.7 million shares shorted with days to cover at 3.07.
Wall Street analysts have a consensus price target for the stock at $24, which means that the shares’ value could jump 44.38% from current levels. The projected low price target is $9.0 while the price target rests at a high of $93.0. In that case, then, we find that the current price level is -596.63% off the targeted high while a plunge would see the stock lose 32.58% from current levels.
Solaredge Technologies Inc (SEDG) estimates and forecasts
Figures show that Solaredge Technologies Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -66.51% over the past 6 months, with this year growth rate of -508.01%, compared to -12.70% for the industry. Revenue growth from the last financial year stood is estimated to be -69.11%.
22 analysts offering their estimates for the company have set an average revenue estimate of 187.48M for the current quarter. 20 have an estimated revenue figure of 218.87M for the next ending quarter. Year-ago sales stood 316.04M and 204.4M respectively for this quarter and the next, and analysts expect sales will shrink by -40.68% for the current quarter and -69.11% 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 -25.90% over the past 5 years.
SEDG Dividends
Solaredge Technologies Inc is expected to release its next earnings report in January 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 1.83% of the company shares, while shares held by institutions stand at 104.32% with a share float percentage of 106.27%. Investors are also buoyed by the number of investors in a company, with Solaredge Technologies Inc having a total of 503.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 7.92 million shares worth more than $200.01 million. As of 2024-06-30, BLACKROCK INC. held 13.857% of shares outstanding.
The other major institutional holder is GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC, with the holding of over 3.34 million shares as of 2024-06-30. The firm’s total holdings are worth over $84.33 million and represent 5.8424% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Invesco ETF TR II-Invesco Solar ETF . As of Sep 30, 2024 , the former fund manager holds about 6.31% shares in the company for having 3.65 shares of worth $48.79 million while later fund manager owns 1.68 shares of worth $22.4 million as of Sep 30, 2024 , which makes it owner of about 2.90% of company’s outstanding stock.
