SolarEdge Technologies Inc. (NASDAQ:SEDG) finished Thursday with a subtraction of -$2.43 to close at $175.41, a downside of -1.37 percent. An average of 1,774,186 shares of common stock have been traded in the last five days. There was a fall of -$6.72 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 2,076,062 shares traded, while the 50-day average volume stands at 1,464,545.
SEDG stock has decreased by -35.51% in the last month. The company shares reached their 1-month lowest point of $174.03 on 08/11/23. With the stock rallying to its 52-week high on 02/15/23, shares of the company touched a low of $176.24 and a high of $345.80 in 52 weeks. It has reached a new high 9 times so far this year and lost -38.08% or -$107.34 in price. In spite of this, the price is down -49.27% from the 52-week high.
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Insider Transactions
SEDG stock investors should be aware that SolarEdge Technologies Inc. (SEDG) stock had its last reported insider trading activity 70 days ago on Jun 02. In this transaction, the insider spent $90,650. Chief Financial Officer, Faier Ronen, disposed of 57 shares at a price of $293.16 on Jun 01. The insider now owns more than $16,710 worth of shares. Prior to that, VP, Core Technologies Adest Meir went on to Sale 57 shares at $293.16 each on Jun 01. An amount of $16,710 was transacted.
Valuation Metrics
SolarEdge Technologies Inc. (SEDG) has a trailing price-to-earnings (P/E) ratio of 33.92. The stock’s beta is 1.40. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.80, the price-to-book (PB) ratio at 4.19.
Financial Health
The quick ratio of SolarEdge Technologies Inc. for the three months ended June 29 was 2.60, and the current ratio was 3.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.28 and a total debt to equity ratio of 0.00 for the quarter ending June 29. SolarEdge Technologies Inc.’s EBITDA margin for the year ending June 29 is 10.91%, while its operating margin for the same period stands at 4.50%. Its gross profit as reported stood at $166.12 million compared to revenue of $3.11 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, SolarEdge Technologies Inc.’s return on assets was 2.30%.
Earnings Surprise
For the three-month period that ended June 29, SolarEdge Technologies Inc. had $493.18 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $119.51 million in the quarter, while revenues of $138.38 million were grew 87.38%. The analyst consensus anticipated SolarEdge Technologies Inc.’s latest quarter earnings to come in at $2.52 per share, but it turned out to be $2.62, a 4.00% surprise. For the quarter, EBITDA amounted to $163.62 million. Shareholders own equity worth $56.56 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at SolarEdge Technologies Inc. (SEDG) price momentum. RSI 9-day as of the close on 10 August was 15.73%, suggesting the stock is oversold, with historical volatility in this time frame at 93.73%.
As of today, SEDG’s price is $179.22 -3.68% or -$6.72 from its 5-day moving average. SEDG is currently trading -35.69% lower than its 20-day SMA and -35.39% lower than its 100-day SMA. However, the stock’s current price level is -38.23% below the SMA50 and -13.65% below the SMA200.
The stochastic %K and %D were 3.80% and 3.90%, respectively, and the average true range (ATR) was 10.54. With the 14-day stochastic at 2.08% and the average true range at 10.97, the RSI (14) stands at 20.02%. The stock has reached -10.31 on the 9-day MACD Oscillator while the 14-day reading was at -30.12.
Analyst Ratings
Deutsche Bank upgraded SolarEdge Technologies Inc. (NASDAQ: SEDG) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for SolarEdge Technologies Inc. (SEDG) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell SEDG, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 23 others rate it as a “buy”.
What is SEDG’s price target for the next 12 months?
Analysts predict a range of price targets between $103.95 and $384.00, with a median target of $305.00. Taking a look at these predictions, the average price target given by analysts for SolarEdge Technologies Inc. (SEDG) stock is $308.58.
