Solaredge Technologies Inc (NASDAQ: SEDG): Reassessing Prospects

Solaredge Technologies Inc (SEDG) concluded trading on Thursday at a closing price of $14.86, with 7.97 million shares of worth about $118.43 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -69.87% during that period and on November 28, 2024 the price saw a gain of about 8.55%. Currently the company’s common shares owned by public are about 57.12M shares, out of which, 57.09M shares are available for trading.

Stock saw a price change of 36.71% in past 5 days and over the past one month there was a price change of -11.39%. Year-to-date (YTD), SEDG shares are showing a performance of -84.12% which decreased to -80.69% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $10.24 but also hit the highest price of $103.15 during that period. The average intraday trading volume for Solaredge Technologies Inc shares is 4.61 million. The stock is currently trading 8.62% above its 20-day simple moving average (SMA20), while that difference is down -12.32% for SMA50 and it goes to -61.31% lower than SMA200.

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Solaredge Technologies Inc (NASDAQ: SEDG) currently have 57.12M outstanding shares and institutions hold larger chunk of about 101.09% of that.

The stock has a current market capitalization of $934.74M and its 3Y-monthly beta is at 1.52. It has posted earnings per share of -$29.05 in the same period. It has Quick Ratio of 1.46 while making debt-to-equity ratio of 0.79. 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 11.70% while standing at 11.27% over the month.

Stock’s fiscal year EPS is expected to drop by -528.32% while it is estimated to increase by 85.44% in next year.

Coverage by Morgan Stanley stated Solaredge Technologies Inc (SEDG) stock as an Underweight in their note to investors on November 15, 2024, suggesting a price target of $9 for the stock. On November 07, 2024, TD Cowen Reiterated their recommendations, while on November 07, 2024, Piper Sandler Downgrade their ratings for the stock with a price target of $9. Stock get a Neutral rating from Mizuho on November 07, 2024.

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