SolarEdge Technologies Inc. (NASDAQ:SEDG) marked $292.77 per share on Tuesday, down from a previous closing price of $298.31. While SolarEdge Technologies Inc. has underperformed by -1.86%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SEDG fell by -9.31%, with highs and lows ranging from $375.90 to $190.15, whereas the simple moving average jumped by 1.69% in the last 200 days.
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On April 03, 2023, Morgan Stanley started tracking SolarEdge Technologies Inc. (NASDAQ: SEDG) recommending Equal-Weight. A report published by KeyBanc Capital Markets on March 06, 2023, Initiated its previous ‘Sector Weight’ rating for SEDG. Scotiabank also rated SEDG shares as ‘Sector Perform’, setting a target price of $345 on the company’s shares in an initiating report dated March 02, 2023. Daiwa Securities Initiated an Neutral rating on December 23, 2022, and assigned a price target of $325. Barclays December 14, 2022d its ‘Equal Weight’ rating to ‘Overweight’ for SEDG, as published in its report on December 14, 2022. BofA Securities’s report from December 07, 2022 suggests a price prediction of $367 for SEDG shares, giving the stock a ‘Buy’ rating. Cowen also rated the stock as ‘Outperform’.
Analysis of SolarEdge Technologies Inc. (SEDG)
Further, the quarter-over-quarter increase in sales is 61.40%, showing a positive trend in the upcoming months.
In order to gain a clear picture of SolarEdge Technologies Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of 4.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.14M can be a very valuable indicator of volatility for SEDG stock. On a monthly basis, the volatility of the stock is set at 5.41%, whereas on a weekly basis, it is put at 4.66%, with a gain of 5.39% over the past seven days. Furthermore, long-term investors anticipate a median target price of $367.14, showing growth from the present price of $292.77, which can serve as yet another indication of whether SEDG is worth investing in or should be passed over.
How Do You Analyze SolarEdge Technologies Inc. Shares?
The Israel based company SolarEdge Technologies Inc. (SEDG) is one of the biggest names in Solar. When comparing SolarEdge Technologies Inc. shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 176.47, there is a growth in quarterly earnings of -50.90%.
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 90.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SEDG shares?
The recent increase in stakes in SEDG appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in SEDG has decreased by -8.73% in the first quarter. The company now owns 2,742,029 shares of the stock, with a value of $871.75 million, following the sale of -262,243 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in SEDG during the first quarter, upping its stake by 2.22%. During the last quarter, the company dropped down 45,032 additional shares for a total stake of worth $659.28 million, bringing number of shares owned by the company to 2,073,739.
During the first quarter, SSgA Funds Management, Inc. subtracted a -39,506 position in SEDG. BlackRock Advisors sold an additional -0.32 million shares in the last quarter, decreasing its holdings by -17.29%, now holding 1.51 million shares worth $481.2 million. At the end of the first quarter, Invesco Capital Management LLC increased its SEDG holdings by 2.92% and now holds 1.37 million SEDG shares valued at $436.69 million with the added 38916.0 shares during the period. SEDG shares are owned by institutional investors to the tune of 90.30% at present.
