The stock of SolarEdge Technologies Inc. (NASDAQ:SEDG) decreased by -$5.5 on Wednesday to $164.50, down -3.24 percent. The last five days have seen an average of 1,450,420 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$118.72. The average number of shares traded over the last 20 days was 2,133,235, while the average volume over the last 50 days totaled 1,514,186.
SEDG stock dropped -40.00% since last month. On 08/16/23, the company’s shares reached a one-month low of $161.13. The stock touched a high of $345.80 on 02/15/23, after rallying from a low of $169.86 in 52 weeks. The price of SEDG stock has declined by -41.93% or -$118.72 this year, reaching a new high 9 times. Still, the stock price is down -52.43% 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 7 days ago on Aug 09. On Aug 09, Chief Financial Officer Faier Ronen acquired 875 shares at $180.10 each. This transaction resulted in the insider spending $157,588. On Jun 02, Adest Meir sold 300 shares at a price of US$302.17. After the transaction, the insider now owns 126,624 shares. Chief Financial Officer Faier Ronen had earlier sold 57 shares on Jun 01 for $293.16 a share. The transaction was completed for $16,710.
Valuation Metrics
SolarEdge Technologies Inc. (SEDG) has a trailing price-to-earnings (P/E) ratio of 31.82. Beta for the stock is 1.42. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.56, the price-to-book (PB) ratio of 3.68.
Financial Health
For the three months ended June 29, SolarEdge Technologies Inc.’s quick ratio was 2.70, while its current ratio was 3.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.27, and the total debt to equity ratio is 0.27. As far as profitability goes, gross margin for the trailing twelve months is 30.00% percent. SolarEdge Technologies Inc.’s EBITDA margin for the year ended June 29 was 10.91%, whereas its operating margin stood at 10.20% for the same period. Based on annual data, it had gross profit of $166.12 million and revenue of $3.11 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SEDG’s return on assets (ROA) during the last 12 months has been 7.00%. There was a 2.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 13.30%.
Earnings Surprise
According to SolarEdge Technologies Inc.’s quarterly financial report for the quarter that ended June 29, it had $493.18 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $991.29 million, while revenues rose by 26.58% to $943.89 million. It was predicted that SolarEdge Technologies Inc.’s quarterly earnings would be $2.62, but it ended up being $2.52, beating the consensus by 4.00%. EBITDA was $163.62 million for the quarter. At the end of SolarEdge Technologies Inc.’s most recent quarter ended June 29, its liabilities totaled 2.18 billion, while its total debt was $735.03 million. Equity owned by shareholders amounts to $56.56 million.
Technical Picture
Here’s a quick look at SolarEdge Technologies Inc.’s (SEDG) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 13.08%, suggesting the stock is oversold, with a 29.83% historical volatility rate.
The stochastic %K and %D were 3.27% and 3.11% respectively, while the average true range (ATR) was 9.57. Based on the 14-day stochastic reading of 4.11%, the RSI (14) reading is 17.75%. On the 9-day MACD Oscillator, the stock is at -6.23, and the 14-day reading is at -21.90.
Analyst Ratings
SolarEdge Technologies Inc. (NASDAQ: SEDG) was downgraded by BofA Securities to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned SolarEdge Technologies Inc. (SEDG) an Overweight rating. SEDG is a stock that is recommended for selling by 1 brokerage firm, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 23 others recommend it as a buy.
What is SEDG’s price target for the next 12 months?
The current consensus forecast for the stock is between $103.95 and $384.00, with a median target price of $302.50. In analyzing these forecasts, the average price target given by analysts for SolarEdge Technologies Inc. (SEDG) is $306.63.
