Solaredge Technologies Inc (NASDAQ:SEDG) shares, rose in value on Friday, April 05, with the stock price down by -4.18% to the previous day’s close as strong demand from buyers drove the stock to $65.89.
Actively observing the price movement in the recent trading, the stock is buoying the session at $68.77. The value of beta (5-year monthly) is 1.50 whereas the PE ratio is 148.78 over 12-month period. Referring to stock’s 52-week performance, its high was $322.19, and the low was $60.44. On the whole, SEDG has fluctuated by -6.35% over the past month.
With the market capitalization of Solaredge Technologies Inc currently standing at about $3.76 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.55, which is expected to increase to -$0.03 for fiscal year -$1.86 and then to about $4.39 by fiscal year 2025. Data indicates that the EPS growth is expected to be -145.10% in 2025, while the next year’s EPS growth is forecast to be 336.00%.
Analysts have estimated the company’s revenue for the quarter at $196.05 million, with a low estimate of $177.25 million and a high estimate of $215.88 million. According to the average forecast, sales growth in current quarter could jump down -79.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.53 billion, representing a decrease of -48.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SEDG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 52.67, with the price of SEDG currently trading nearly -2.85% and -6.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.44, while the 7-day volatility ratio is showing 5.43% which for the 30-day chart, stands at 5.47%. Furthermore, Solaredge Technologies Inc (SEDG)’s beta value is 1.49, and its average true range (ATR) is 4.00.
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 -4.18% in today’s session so far, and over the past year, it shrunk by -77.49%%.
Data on historical trading for Solaredge Technologies Inc (NASDAQ:SEDG) indicates that the trading volumes over the past 10 days have averaged 1.63 million and over the past 3 months, they’ve averaged 2.50 million. According to company’s latest data on outstanding shares, there are 57.12 million shares outstanding.
Nearly 0.92% of Solaredge Technologies Inc’s shares belong to company insiders and institutional investors own 92.02% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.75 million shares as on Mar 15, 2024, resulting in a short ratio of 2.91. According to the data, the short interest in Solaredge Technologies Inc (SEDG) stood at 13.57% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.82 million. The stock has fallen by -29.60% 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.
