Solaredge Technologies Inc (NASDAQ: SEDG) stock jumped 3.23% on Friday to $78.99 against a previous-day closing price of $76.52. With 2.91 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.72 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $78.99 whereas the lowest price it dropped to was $74.81. The 52-week range on SEDG shows that it touched its highest point at $345.80 and its lowest point at $63.25 during that stretch. It currently has a 1-year price target of $112.43. Beta for the stock currently stands at 1.53.
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 up-trending over the past week, with a rise of 11.03%, but this was down by -30.70% over a month. Three-month performance dropped to -51.54% while six-month performance fell -73.31%. The stock lost -72.74% in the past year, while it has lost -72.11% so far this year. A look at the trailing 12-month EPS for SEDG yields 3.65 with Next year EPS estimates of 2.44. For the next quarter, that number is -0.65. This implies an EPS growth rate of -18.64% for this year and -49.59% for next year. EPS is expected to grow by 12.94% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -2.72%.
Float and Shares Shorts:
At present, 56.81 million SEDG shares are outstanding with a float of 56.34 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.52 million, which was 13.24% higher than short shares on Sep 28, 2023. In addition to SEDG as the firm’s SolarEdge Technologies, Inc., SESG serves as its SESG.
Through their ownership of 93.91% of SEDG’s outstanding shares, institutional investors have majority control over the company.
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 $384.00 and a low target of $34.42, the average target price over the next 12 months is $112.43. Based on these targets, SEDG could surge 386.14% to reach the target high and fall by -56.42% to reach the target low. Reaching the average price target will result in a growth of 42.33% from current levels.
Summary of Insider Activity:
Insiders traded SEDG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 33,614 while 27,656 shares were sold.