Solaredge Technologies Inc (NASDAQ:SEDG) shares traded 9.83% higher at $24.57 on Wall Street last session.
SEDG stock price is now -19.16% away from the 50-day moving average and -59.45% away from the 200-day moving average. The market capitalization of the company currently stands at $1.41B.
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With the price target reduced from $50 to $35, TD Cowen maintained Buy rating for Solaredge Technologies Inc (NASDAQ: SEDG). On July 23, 2024, ROTH MKM reiterated its ‘Neutral’ rating on the stock by increasing its target price from $55 to quote $27, while ‘DZ Bank’ rates the stock as ‘Sell’
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 $1.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 09 ’23, Director GANI MARCEL bought 5,000 shares of the business’s stock. A total of $367,450 was incurred on buying the stock at an average price of $73.49. This leaves the insider owning 29,049 shares of the company worth $0.71 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 $19.81 and a high of $175.82. As of last week, the company has a debt-to-equity ratio of 0.35, a current ratio of 5.10, and a quick ratio of 2.45. The fifty day moving average price for SEDG is $30.3928 and a two-hundred day moving average price translates $60.5924 for the stock.
The latest earnings results from Solaredge Technologies Inc (NASDAQ: SEDG) was released for 2024-06-30. The net profit margin was -33.86% and return on equity was -22.12% for SEDG. The company reported revenue of $265.4 million for the quarter, compared to $991.29 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -73.23 percent.
