Swedbank Robur Fonder AB has recently announced that it has increased stake in Solaredge Technologies Inc (NASDAQ:SEDG) by 3.06%. After grabbing 4.27 million shares, the institutional investor is now in possession of 0.13 million shares of the Technology Company. The new investment brought the stake of investor firm to 7.52% having worth around $400.01 million. Moreover, The Vanguard Group, Inc. increased its share by 90246.0 to have a control over 2.31 million shares. And Invesco Capital Management LLC raised its holdings to 0.84 million shares by acquiring 2.25 million shares or 3.96% of the stake.
Solaredge Technologies Inc (SEDG) concluded trading on Thursday at a closing price of $70.44, with 3.73 million shares of worth about $263.04 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -71.16% during that period and on Thursday, January 25 the price saw a gain of about 0.34%. Currently the company’s common shares owned by public are about 56.81M shares, out of which, 56.29M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 28 times over the past 12 months. They bought 29,148 shares in 15 of the transactions. In 13 selling transactions, insiders dumped 10,470 shares.
iShares Core S&P Small Cap ETF, Swedbank Robur Technology, and Invesco Solar ETF are the top 3 mutual funds which are holding stakes in Solaredge Technologies Inc iShares Core S&P Small Cap ETF is currently holding 3.8 million shares of worth totaling $355.84 million. The company recently came selling 6019.0 shares which brought its stake up to 6.69% of the company’s outstanding shares. Invesco Solar ETF, after selling 1.55 million shares, have now control over 2.72% of the stake in the company. It holds 7656.0 shares of worth $144.7 million.
However, the stock later moved at a day high price of 70.76, or with a gain of 0.34%. Stock saw a price change of 1.69% in past 5 days and over the past one month there was a price change of -26.65%. Year-to-date (YTD), SEDG shares are showing a performance of -24.74% which decreased to -77.16% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $63.25 but also hit the highest price of $345.80 during that period. The average intraday trading volume for Solaredge Technologies Inc shares is 3.40 million. The stock is currently trading -12.29% below its 20-day simple moving average (SMA20), while that difference is down -13.99% for SMA50 and it goes to -60.51% lower than SMA200.
Swedbank Robur Fonder AB acquired 4.27 million shares of Solaredge Technologies Inc having value of about $400.01 million. Data submitted at the U.S SEC by Swedbank Robur Fonder AB revealed that the firm now holds 0.13 million shares in the company valued at close to $8936088.84, or have control over 3.06% stake in the company. Solaredge Technologies Inc (NASDAQ: SEDG) currently have 56.81M outstanding shares and institutions hold larger chunk of about 90.21% of that. Holding of mutual funds in the company is about 33.98% while other institutional holders and individual stake holders have control over 65.19% and 28.68% of the stake respectively.
The stock has a current market capitalization of $4.00B and its 3Y-monthly beta is at 1.50. PE ratio of stock for trailing 12 months is 19.30, while it has posted earnings per share of $3.65 in the same period. Its PEG reads 1.49 and has Quick Ratio of 2.49 while making debt-to-equity ratio of 0.29. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SEDG, volatility over the week remained 6.89% while standing at 5.28% over the month.
Analysts are in expectations that Solaredge Technologies Inc (SEDG) stock would likely to be making an EPS of -$1.29 in the current quarter, while forecast for next quarter EPS is -$0.86 and it is $0.24 for next year. For the current quarter EPS, analysts have given the company a lowest target -$2.37 which is -$0.44 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.86 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -32.98% while it is estimated to decrease by -75.62% in next year. EPS is likely to grow at an annualized rate of 12.94% for next 5-years, compared to annual growth of -2.72% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on January 17, 2024 offering an Underweight rating for the stock and assigned a target price range of between $74 and $50 to it.
