In the latest trading session, 1.41 million Solaredge Technologies Inc (NASDAQ:SEDG) shares changed hands as the company’s beta touched 1.54. With the company’s most recent per share price at $13.87 changed hands at -$0.84 or -5.70% at last look, the market valuation stands at $803.82M. SEDG’s current price is a discount, trading about -534.32% off its 52-week high of $87.98. The share price had its 52-week low at $10.24, which suggests the last value was 26.17% up since then. When we look at Solaredge Technologies Inc’s average trading volume, we note the 10-day average is 5.03 million shares, with the 3-month average coming to 5.43 million.
Analysts gave the Solaredge Technologies Inc (SEDG) stock a consensus recommendation rating of Buy, calculated at a mean rating of 3.21. 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 -1.65.
Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Instantly SEDG was in red as seen in intraday trades today. With action -9.22%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 1.99%, with the 5-day performance at -9.22% in the red. However, in the 30-day time frame, Solaredge Technologies Inc (NASDAQ:SEDG) is -1.56% down. Looking at the short shares, we see there were 22.01 million shares sold at short interest cover period of 4.27 days.
The consensus price target for the stock as assigned by Wall Street analysts is 23, meaning bulls need an upside of 39.7% from its recent market value. According to analyst projections, SEDG’s forecast low is 9 with 28 as the target high. To hit the forecast high, the stock’s price needs a -101.87% plunge from its current level, while the stock would need to tank 35.11% 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 -56.17% over the past 6 months, a -563.35% in annual growth rate that is considerably lower than the industry average of -13.90%. Year-over-year growth is forecast to reach -69.06% down from the last financial year.
Consensus estimates given by 24 financial analysts project the company’s revenue in the current quarter to hit an average of 189.03M. 21 analysts are of the opinion that Solaredge Technologies Inc’s revenue for the current quarter will be 209.77M. 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 -40.19%. The estimates for the next quarter sales put growth at 2.63%.
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 2025 estimates are for Solaredge Technologies Inc earnings to decrease by -580.44%.
SEDG Dividends
Solaredge Technologies Inc is expected to release its next quarterly earnings report in February.
Solaredge Technologies Inc (NASDAQ:SEDG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.83% of Solaredge Technologies Inc shares while 103.30% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 105.23%. There are 103.30% 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.
Among Mutual Funds, the top two as of Oct 31, 2024 were iShares Core S&P Smallcap ETF and Invesco ETF TR II-Invesco Solar ETF. With 3.64 shares estimated at $50.14 million under it, the former controlled 6.29% of total outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held about 2.85% of the shares, roughly 1.65 shares worth around $22.73 million.
