SolarEdge Technologies Inc. (SEDG) Performance and Fundamentals Dashboard tells a completely different story

SolarEdge Technologies Inc. (NASDAQ: SEDG) stock fell -3.32% on Tuesday to $288.95 against a previous-day closing price of $298.87. With 0.78 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.1 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $302.30 whereas the lowest price it dropped to was $286.78. The 52-week range on SEDG shows that it touched its highest point at $375.90 and its lowest point at $190.15 during that stretch. It currently has a 1-year price target of $371.32. Beta for the stock currently stands at 1.41.

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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 -2.09%, but this was down by -9.26% over a month. Three-month performance dropped to -2.29% while six-month performance fell -5.69%. The stock gained 12.52% in the past year, while it has gained 2.01% so far this year. A look at the trailing 12-month EPS for SEDG yields 3.41 with Next year EPS estimates of 12.79. For the next quarter, that number is 2.46. This implies an EPS growth rate of -46.00% for this year and 17.50% for next year. EPS is expected to grow by 32.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -6.10%.

Float and Shares Shorts:

At present, 56.22 million SEDG shares are outstanding with a float of 55.33 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.0 million, which was 5.33% higher than short shares on Mar 30, 2023. 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 92.41% of SEDG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.15% of SEDG, in contrast to 36.51% held by mutual funds. Shares owned by individuals account for 28.86%. As the largest shareholder in SEDG with 4.97% of the stake, BlackRock Fund Advisors holds 2,793,244 shares worth 2,793,244. A second-largest stockholder of SEDG, The Vanguard Group, Inc., holds 2,073,739 shares, controlling over 3.69% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SEDG, holding 2,017,126 shares or 3.59% stake. With a 2.63% stake in SEDG, the iShares II Plc – Global Clean Ene is the largest stakeholder. A total of 1,477,172 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.32% of SEDG stock, is the second-largest Mutual Fund holder. It holds 1,304,900 shares valued at 372.72 million. iShares Global Clean Energy ETF holds 2.21% of the stake in SEDG, owning 1,241,588 shares worth 354.63 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, SEDG reported revenue of $727.77M and operating income of $36.01M. The EBITDA in the recently reported quarter was $48.49M and diluted EPS was $0.26.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SEDG since 0 analysts follow the stock currently. 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 $445.00 and a low target of $288.00, the average target price over the next 12 months is $375.56. Based on these targets, SEDG could surge 54.01% to reach the target high and fall by -0.33% to reach the target low. Reaching the average price target will result in a growth of 29.97% 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.

Summary of Insider Activity:

Insiders traded SEDG stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 1,192 shares were bought while 2,500 shares were sold. The number of buy transactions has increased to 32 while that of sell transactions has risen to 143 over the past year. The total number of shares bought during that period was 37,058 while 79,801 shares were sold.

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