In yesterday’s Wall Street session, Solaredge Technologies Inc (NASDAQ:SEDG) shares traded at $82.90, down -27.27% from the previous session.
36 analysts cover Solaredge Technologies Inc (NASDAQ:SEDG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $384.00 and a low of $65.00, we find $151.00. Given the previous closing price of $113.98, this indicates a potential upside of 32.48 percent. SEDG stock price is now -42.48% away from the 50-day moving average and -66.96% away from the 200-day moving average. The market capitalization of the company currently stands at $4.69B.
The stock has received a hold rating from 11 analysts and a buy rating from 20. Brokers who have rated the stock have averaged $179.58 as their price target over the next twelve months.
With the price target of $140, Exane BNP Paribas recently initiated with Outperform rating for Solaredge Technologies Inc (NASDAQ: SEDG).
In other news, Faier Ronen, Chief Financial Officer bought 875 shares of the company’s stock on Aug 09. The stock was bought for $157,588 at an average price of $180.10. Upon completion of the transaction, the Chief Financial Officer now directly owns 73,414 shares in the company, valued at $6.09 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 02, VP, Core Technologies Adest Meir sold 300 shares of the business’s stock. A total of $90,650 was realized by selling the stock at an average price of $302.17. This leaves the insider owning 126,624 shares of the company worth $10.5 million. Insiders disposed of 35,156 shares of company stock worth roughly $2.91 million over the past 1 year. A total of 0.79% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SEDG stock. A new stake in Solaredge Technologies Inc shares was purchased by UNISUPER MANAGEMENT PTY LTD during the first quarter worth $39,860,000. COATUE MANAGEMENT LLC invested $10,560,000 in shares of SEDG during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Solaredge Technologies Inc valued at approximately $8,273,000. AVALON TRUST CO acquired a new stake in SEDG for approximately $3,512,000. EDENTREE ASSET MANAGEMENT LTD purchased a new stake in SEDG valued at around $2,653,000 in the second quarter. In total, there are 1,118 active investors with 91.43% ownership of the company’s stock.
On Friday morning Solaredge Technologies Inc (NASDAQ: SEDG) stock kicked off with the opening price of $75.57. During the past 12 months, Solaredge Technologies Inc has had a low of $113.43 and a high of $345.80. As of last week, the company has a debt-to-equity ratio of 0.29, a current ratio of 3.84, and a quick ratio of 2.75. According to the stock market information, the enterprise value for the company is $4.37B, which is based on a 16.06 price-to-earnings ratio, a 0.57 price-to-earnings-growth ratio, and a beta of 1.51. The fifty day moving average price for SEDG is $142.22 and a two-hundred day moving average price translates $249.91 for the stock.
The latest earnings results from Solaredge Technologies Inc (NASDAQ: SEDG) was released for Jun, 2023. According to the Solar Company, earnings per share came in at $2.62, beating analysts’ expectations of $2.52 by 0.1. This compares to $0.26 EPS in the same period last year. The net profit margin was 8.29% and return on equity was 13.35% for SEDG. The company reported revenue of $991.29 million for the quarter, compared to $727.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 36.21 percent. For the current quarter, analysts expect SEDG to generate $883.51M in revenue.
Solaredge Technologies Inc(SEDG) Company Profile
SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system. It also provides residential, commercial, and large scale PV, energy storage and backup, electric vehicle charging, and home energy management solutions, as well as grid services; and e-Mobility, automation machines, and lithium-ion cells and batteries, as well as virtual power plants. In addition, the company offers pre-sales support, ongoing trainings, and technical support and after installation services. The company sells its products to the providers of solar PV systems; and solar installers and distributors, electrical equipment wholesalers, and PV module manufacturers, as well as engineering, procurement, and construction firms. SolarEdge Technologies, Inc. was incorporated in 2006 and is headquartered in Herzliya, Israel.
