Solaredge Technologies Inc (NASDAQ:SEDG) price on Thursday, January 16, fall -2.00% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $14.21.
A look at the stock’s price movement, the close in the last trading session was $14.50, moving within a range at $14.075 and $14.6261. The beta value (5-Year monthly) was 1.585. Turning to its 52-week performance, $87.98 and $10.24 were the 52-week high and 52-week low respectively. Overall, SEDG moved 6.44% over the past month.
Solaredge Technologies Inc’s market cap currently stands at around $823.47 million, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 189.07M for the company’s revenue for the quarter, with a low and high estimate of 176M and 214M respectively. The average forecast suggests down to a -40.17% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 920.83M, representing a -69.06% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SEDG is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
25 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 12 analyst(s) rate the stock as a Hold, 12 recommend SEDG as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SEDG’s current price about -2.81% and 1.67% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.12, while 7-day volatility ratio is 7.06% and 9.62% in the 30-day chart. Further, Solaredge Technologies Inc (SEDG) has a beta value of 1.56, and an average true range (ATR) of 1.50. Analysts have given the company’s stock an average 52-week price target of $23, forecast between a low of $9 and high of $28. Looking at the price targets, the low is 36.66% off current price level while to achieve the yearly target high, price needs to move -97.04%. Nonetheless, investors will most likely welcome a -61.86% jump to $23 which is the analysts’ median price.
If we refocus on Solaredge Technologies Inc (NASDAQ:SEDG), historical trading data shows that trading volumes averaged 4.93 over the past 10 days and 5.44 million over the past 3 months. The company’s latest data on shares outstanding shows there are 57.18 million shares.
The 2.29% of Solaredge Technologies Inc’s shares are in the hands of company insiders while institutional holders own 101.62% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 22.4 million on 2024-12-31, giving us a short ratio of 4.68. The data shows that as of 2024-12-31 short interest in Solaredge Technologies Inc (SEDG) stood at 4621.0 of shares outstanding, with shares short rising to 19.7 million registered in 2024-11-29. Current price change has pushed the stock 4.49% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SEDG stock continues to rise going into the next quarter.
