In the last trading session, 1.87 million shares of the Solaredge Technologies Inc (NASDAQ:SEDG) were traded, and its beta was 1.82. Most recently the company’s share price was $14.22, and it changed around -$0.07 or -0.49% from the last close, which brings the market valuation of the company to $824.05M. SEDG currently trades at a discount to its 52-week high of $87.98, offering almost -518.71% off that amount. The share price’s 52-week low was $10.24, which indicates that the current value has risen by an impressive 27.99% since then. We note from Solaredge Technologies Inc’s average daily trading volume that its 10-day average is 2.95 million shares, with the 3-month average coming to 4.81 million.
Solaredge Technologies Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.18. If we narrow it down even further, the data shows that 3 out of 34 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 25 recommended SEDG as a Hold, whereas 0 deemed it a Buy, and 3 rated it as Underweight. Solaredge Technologies Inc is expected to report earnings per share of -1.66 for the current quarter.
Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Instantly SEDG has showed a red trend with a performance of -0.49% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 15.02 on recent trading dayincreased the stock’s daily price by 5.33%. The company’s shares are currently up 4.56% year-to-date, but still up 6.44% over the last five days. On the other hand, Solaredge Technologies Inc (NASDAQ:SEDG) is -5.14% down in the 30-day period. We can see from the shorts that 22.51 million shares have been sold at a short interest cover period of 4.22 day(s).
The consensus price target as assigned by Wall Street analysts is $20, which translates to bulls needing to increase their stock price by 28.9% from its current value. Analyst projections state that SEDG is forecast to be at a low of $9 and a high of $28.
Solaredge Technologies Inc (SEDG) estimates and forecasts
The year-over-year growth rate is expected to be -69.06%, down from the previous year.
Consensus estimates provided by 26 financial analysts predict the company will bring in an average of 189.23M in revenue for the current quarter. 24 analysts expect Solaredge Technologies Inc to make 207.87M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 316.04M and 204.4M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -40.13%. Forecasts for the next quarter put sales growth at 1.70%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -25.90%.
SEDG Dividends
Solaredge Technologies Inc’s next quarterly earnings report is expected to be released in March.
Solaredge Technologies Inc (NASDAQ:SEDG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.90% of Solaredge Technologies Inc shares, and 98.76% of them are in the hands of institutional investors. The stock currently has a share float of 100.67%. Solaredge Technologies Inc stock is held by 464.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 13.857% of the shares, which is about 7.92 million shares worth $200.01 million.
GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC, with 5.8424% or 3.34 million shares worth $84.33 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
