A new trading data show SolarEdge Technologies Inc. (SEDG) is showing positive returns.

SolarEdge Technologies Inc. (NASDAQ: SEDG) stock jumped 4.64% on Friday to $309.22 against a previous-day closing price of $295.52. With 2.09 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.96 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $319.40 whereas the lowest price it dropped to was $292.37. The 52-week range on SEDG shows that it touched its highest point at $389.71 and its lowest point at $200.86 during that stretch. It currently has a 1-year price target of $347.96. Beta for the stock currently stands at 1.11.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SEDG was down-trending over the past week, with a drop of -9.37%, but this was up by 14.62% over a month. Three-month performance surged to 8.65% while six-month performance rose 29.76%. The stock gained 5.63% in the past year, while it has gained 10.21% so far this year. A look at the trailing 12-month EPS for SEDG yields 3.11 with Next year EPS estimates of 9.82. For the next quarter, that number is 1.39. This implies an EPS growth rate of 15.20% for this year and 46.04% for next year. EPS is expected to grow by 29.81% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 39.50%.

Float and Shares Shorts:

At present, 53.13 million SEDG shares are outstanding with a float of 52.27 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.8 million, which was 3.24% higher than short shares on Jun 14, 2022. In addition to Mr. Zvi Lando as the firm’s CEO & Director, Mr. Yoav Galin serves as its VP of R&D and Founder.

Institutional Ownership:

Through their ownership of 84.70% of SEDG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.85% of SEDG, in contrast to 30.28% held by mutual funds. Shares owned by individuals account for 29.39%. As the largest shareholder in SEDG with 4.75% of the stake, BlackRock Fund Advisors holds 2,632,879 shares worth 2,632,879. A second-largest stockholder of SEDG, Swedbank Robur Fonder AB, holds 2,021,893 shares, controlling over 3.65% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SEDG, holding 1,953,483 shares or 3.53% stake. With a 2.79% stake in SEDG, the iShares II Plc – Global Clean Ene is the largest stakeholder. A total of 1,544,810 shares are owned by the mutual fund manager. The iShares Global Clean Energy ETF, which owns about 2.37% of SEDG stock, is the second-largest Mutual Fund holder. It holds 1,310,911 shares valued at 358.77 million. Vanguard 500 Index Fund holds 2.21% of the stake in SEDG, owning 1,225,811 shares worth 335.48 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SEDG since 26 analysts follow the stock currently. There are 19 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SEDG analysts setting a high price target of $428.00 and a low target of $245.00, the average target price over the next 12 months is $364.67. Based on these targets, SEDG could surge 38.41% to reach the target high and fall by -20.77% to reach the target low. Reaching the average price target will result in a growth of 17.93% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SEDG will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of $5.97 being high and $2.46 being low. For SEDG, this leads to a yearly average estimate of $3.69. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SolarEdge Technologies Inc. surprised analysts by -$0.62 when it reported $0.26 EPS against a consensus estimate of $0.88. The surprise factor in the prior quarter was -$0.30. Based on analyst estimates, the high estimate for the next quarter is $1.77 and the low estimate is $0.67. The average estimate for the next quarter is thus $1.21.

Summary of Insider Activity:

Insiders traded SEDG stock several times over the past three months with 8 Buys and 39 Sells. In these transactions, 5,216 shares were bought while 19,601 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 235 over the past year. The total number of shares bought during that period was 78,113 while 214,978 shares were sold.

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