In yesterday’s Wall Street session, Solaredge Technologies Inc (NASDAQ:SEDG) shares traded at $24.99, down -5.34% from the previous session.
SEDG stock price is now -50.26% away from the 50-day moving average and -67.85% away from the 200-day moving average. The market capitalization of the company currently stands at $1.43B.
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With the price target reduced from $72 to $46, Scotiabank maintained Sector Perform rating for Solaredge Technologies Inc (NASDAQ: SEDG). On June 25, 2024, JP Morgan reiterated its ‘Overweight’ rating on the stock by increasing its target price from $59 to quote $49, while ‘Canaccord Genuity’ rates the stock as ‘Hold’
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 $1.94 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 $1.76 million. A total of 0.90% of the company’s stock is owned by insiders.
During the past 12 months, Solaredge Technologies Inc has had a low of $24.72 and a high of $288.87. 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 $49.5366 and a two-hundred day moving average price translates $77.1151 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.
