Solaredge Technologies Inc (NASDAQ:SEDG) shares, rose in value on Thursday, March 06, with the stock price up by 2.76% to the previous day’s close as strong demand from buyers drove the stock to $16.02.
Actively observing the price movement in the last trading, the stock closed the session at $15.59. Referring to stock’s 52-week performance, its high was $78.40, and the low was $10.24. On the whole, SEDG has fluctuated by 15.33% over the past month.
With the market capitalization of Solaredge Technologies Inc currently standing at about $941.70 million, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.11B, with a low estimate of 198.95M and a high estimate of 215.12M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 206.17M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SEDG’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of SEDG currently trading nearly -1.17% and 6.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.86, while the 7-day volatility ratio is showing 11.76% which for the 30-day chart, stands at 9.90%. Furthermore, Solaredge Technologies Inc (SEDG)’s beta value is 1.69, and its average true range (ATR) is 1.71.
A comparison of Solaredge Technologies Inc (SEDG) with its peers suggests the former has fared considerably weaker in the market. SEDG showed an intraday change of 2.76% in last session, and over the past year, it shrunk by -76.11%%.
Data on historical trading for Solaredge Technologies Inc (NASDAQ:SEDG) indicates that the trading volumes over the past 3 months, they’ve averaged 4.76 million. According to company’s latest data on outstanding shares, there are 58.03 million shares outstanding.
Nearly 2.34% of Solaredge Technologies Inc’s shares belong to company insiders and institutional investors own 99.60% of the company’s shares. The stock has risen by 17.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SEDG stock heading into the next quarter.
