In today’s recent session, 0.47 million shares of the Solaredge Technologies Inc (NASDAQ:SEDG) have been traded, and its beta is 1.62. Most recently the company’s share price was $17.68, and it changed around $0.65 or 3.80% from the last close, which brings the market valuation of the company to $1.04B. SEDG at last check was trading at a discount to its 52-week high of $73.60, offering almost -316.29% off that amount. The share price’s 52-week low was $10.24, which indicates that the recent value has risen by an impressive 42.08% since then. We note from Solaredge Technologies Inc’s average daily trading volume that its 10-day average is 2.29 million shares, with the 3-month average coming to 4.13 million.
Solaredge Technologies Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.26. If we narrow it down even further, the data shows that 2 out of 34 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 25 recommended SEDG as a Hold, whereas 0 deemed it a Buy, and 5 rated it as Underweight. Solaredge Technologies Inc is expected to report earnings per share of -1.16 for the current quarter.
Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Instantly SEDG has been showing a green trend so far today with a performance of 3.80% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 17.97 on recent trading dayincreased the stock’s daily price by 1.61%. The company’s shares are currently up 29.98% year-to-date, but still up 1.71% over the last five days. On the other hand, Solaredge Technologies Inc (NASDAQ:SEDG) is 0.33% up in the 30-day period. We can see from the shorts that 21.85 million shares have been sold at a short interest cover period of 4.4 day(s).
The consensus price target as assigned by Wall Street analysts is $15, which translates to bulls needing to decrease their stock price by -17.87% 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 22.72%, up from the previous year.
Consensus estimates provided by 24 financial analysts predict the company will bring in an average of 206.17M in revenue for the current quarter. 23 analysts expect Solaredge Technologies Inc to make 253.49M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 204.4M and 265.4M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.87%. Forecasts for the next quarter put sales growth at -4.49%.
Solaredge Technologies Inc (NASDAQ:SEDG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.86% of Solaredge Technologies Inc shares, and 101.79% of them are in the hands of institutional investors. The stock currently has a share float of 103.71%. Solaredge Technologies Inc stock is held by 454.0 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 5.8891% or 3.34 million shares worth $84.33 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
iShares Core S&P Small-Cap ETF and Invesco Solar ETF were the top two Mutual Funds as of Jan 31, 2025. The former held 3.73 shares worth $65.46 million, making up 6.35% of all outstanding shares. On the other hand, Invesco Solar ETF held roughly 1.66 shares worth around $29.1 million, which represents about 2.82% of the total shares outstanding.
