At the last check on Friday, SolarEdge Technologies Inc.’s (NASDAQ:SEDG) stock was down -$0.77, moving down -0.47 percent to $161.80. The average number of shares traded per day over the past five days has been 974,112 shares. 4 times new highs have been achieved over the past 5 days, with a $0.07 gain in that time frame. In the last twenty days, the average volume was 1,433,708, while in the previous 50 days, it was 1,544,615.
Since last month, SEDG stock retreated -14.75%. Shares of the company fell to $156.47 on 08/25/23, the lowest level in the past month. A 52-week high of $345.80 was reached on 02/15/23 after having rallying from a 52-week low of $156.47. Since the beginning of this year, SEDG’s stock price has dropped by -42.88% or -$121.50, and marked a new high 9 times. However, the stock has declined by -53.21% since its 52-week high.
SEDG stock investors should be aware that SolarEdge Technologies Inc. (SEDG) stock had its last reported insider trading activity 23 days ago on Aug 09. Faier Ronen, the Chief Financial Officer of the company, purchased of 875 shares for $180.10 on Aug 09. It resulted in a $157,588 investment by the insider. Adest Meir sold 300 shares at an average price of $302.17 on Jun 02. The insider now owns 126,624 shares following the transaction. On Jun 01, Chief Financial Officer Faier Ronen sold 57 shares at $293.16 apiece. The transaction was valued at $16,710.
Valuation Metrics
Right now, SolarEdge Technologies Inc. (SEDG) has a P/E ratio of about 31.30. The stock’s beta is 1.40. Besides these, the trailing price-to-sales (P/S) ratio of 2.42, the price-to-book (PB) ratio of 3.62.
Financial Health
In the three months ended June 29, SolarEdge Technologies Inc.’s quick ratio stood at 2.70, while its current ratio was 3.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.27, and the total debt-to-equity ratio was 0.27. On the profitability front, the trailing twelve-month gross margin is 30.00% percent. In the year ended June 29, EBITDA margin amounted to 10.91%, whereas operating margins totaled 10.20%. Based on annual data, SEDG earned $166.12 million in gross profit and brought in $3.11 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 2.90%. Return on equity (ROE) for the past 12 months was 13.30%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SEDG’s revenue rose 26.58% to $943.89 million during the quarter, while net income inched up to $991.29 million. While analysts expected SolarEdge Technologies Inc. to report $2.52 quarterly earnings, the actual figure was $2.62 per share, beating the consensus estimate by 4.00%. During the quarter, the company generated $163.62 million in EBITDA. The liabilities of SolarEdge Technologies Inc. were 2.18 billion at the end of its most recent quarter ended June 29, and its total debt was $735.03 million. The value of shareholders’ equity is $56.56 million.
Technical Picture
This quick technical analysis looks at SolarEdge Technologies Inc.’s (SEDG) price momentum. With a historical volatility rate of 42.53%, the RSI 9-day stood at 32.34% on 31 August.
With respect to its five-day moving average, the current SolarEdge Technologies Inc. price is up by +0.04% percent or $0.07. At present, SEDG shares trade -11.43% below its 20-day simple moving average and -43.90% percent below its 100-day simple moving average. However, the stock is currently trading approximately -33.86% below its SMA50 and -43.04% below its SMA200.
Stochastic coefficient K was 30.55% and Stochastic coefficient D was 30.53%, while ATR was 6.68. Given the Stochastic reading of 27.39% for the 14-day period, the RSI (14) reading has been calculated as 28.91%. As of today, the MACD Oscillator reading stands at -0.11, while the 14-day reading stands at -0.53.
Analyst Ratings
SolarEdge Technologies Inc. downgraded its rating on SolarEdge Technologies Inc. (NASDAQ: SEDG) to a Neutral in a note to investors on August 16, 2023. The analysts firm previously had a Buy rating on the stock.SolarEdge Technologies Inc. (SEDG) has been rated Overweight by analysts. According to 1 brokerage firm, SEDG is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 5 analysts rate SolarEdge Technologies Inc. stock as buy, with 23 recommending it as overweight.
With a median target price of $300.00, the current consensus forecast for the stock is $103.95 – $384.00. Based on these forecasts, analysts predict SolarEdge Technologies Inc. (SEDG) will achieve an average price target of $291.11.
