The stock of Solaredge Technologies Inc (NASDAQ:SEDG) last traded at $10.64, down -17.07% from the previous session.
SEDG stock price is now -41.50% away from the 50-day moving average and -73.97% away from the 200-day moving average. The market capitalization of the company currently stands at $511.34M.
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With the price target reduced from $23 to $9, Morgan Stanley Downgraded its rating from Equal-Weight to Underweight for Solaredge Technologies Inc (NASDAQ: SEDG). On November 07, 2024, TD Cowen reiterated its ‘Hold’ rating on the stock by increasing its target price from $16 to quote $11, while ‘Piper Sandler’ rates the stock as ‘Underweight’
In other news, GANI MARCEL, Director bought 20,000 shares of the company’s stock on Nov 13 ’24. The stock was bought for $228,648 at an average price of $11.43. Upon completion of the transaction, the Director now directly owns 53,035 shares in the company, valued at $0.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 11 ’24, Chairman of the Board AVERY MORE bought 156,000 shares of the business’s stock. A total of $2,129,400 was incurred on buying the stock at an average price of $13.65. This leaves the insider owning 244,478 shares of the company worth $2.6 million. A total of 1.23% of the company’s stock is owned by insiders.
During the past 12 months, Solaredge Technologies Inc has had a low of $11.02 and a high of $103.15. As of last week, the company has a debt-to-equity ratio of 0.79, a current ratio of 2.34, and a quick ratio of 1.46. The fifty day moving average price for SEDG is $18.1889 and a two-hundred day moving average price translates $40.872227 for the stock.
The latest earnings results from Solaredge Technologies Inc (NASDAQ: SEDG) was released for 2024-09-30. The net profit margin was -158.19% and return on equity was -96.08% for SEDG. The company reported revenue of $260.9 million for the quarter, compared to $725.3 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -64.03 percent.
