In yesterday’s Wall Street session, Solaredge Technologies Inc (NASDAQ:SEDG) shares traded at $47.21, down -10.64% from the previous session.
SEDG stock price is now -22.08% away from the 50-day moving average and -48.24% away from the 200-day moving average. The market capitalization of the company currently stands at $2.71B.
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With the price target maintained at $56, Susquehanna recently Downgraded its rating from Positive to Neutral for Solaredge Technologies Inc (NASDAQ: SEDG). On May 09, 2024, TD Cowen reiterated its ‘Buy’ rating on the stock by increasing its target price from $85 to quote $80, while ‘Northland Capital’ rates the stock as ‘Market Perform’
In other news, AVERY MORE, Director bought 7,000 shares of the company’s stock on Feb 29 ’24. The stock was bought for $474,250 at an average price of $67.75. Upon completion of the transaction, the Director now directly owns 77,446 shares in the company, valued at $3.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 09 ’23, Director AVERY MORE bought 15,300 shares of the business’s stock. A total of $1,085,632 was incurred on buying the stock at an average price of $70.96. This leaves the insider owning 70,446 shares of the company worth $3.33 million. A total of 0.83% of the company’s stock is owned by insiders.
During the past 12 months, Solaredge Technologies Inc has had a low of $47.59 and a high of $306.86. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 4.54, and a quick ratio of 2.19. The fifty day moving average price for SEDG is $60.1756 and a two-hundred day moving average price translates $90.55695 for the stock.
The latest earnings results from Solaredge Technologies Inc (NASDAQ: SEDG) was released for 2024-03-31. The net profit margin was -11.68% and return on equity was -11.38% for SEDG. The company reported revenue of $204.4 million for the quarter, compared to $943.89 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -78.35 percent.
