Market Analysts see Solaredge Technologies Inc [SEDG] falling to $50. Time to buy?

Solaredge Technologies Inc [NASDAQ: SEDG] stock went on a downward path that fall over -6.33% on Wednesday, amounting to a one-week price decrease of less than -11.66%. The company report on January 2, 2024 at 6:00 AM that 4 Solar Stocks Poised for Growth In 2024.

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Over the last 12 months, SEDG stock dropped by -78.34%. The one-year Solaredge Technologies Inc stock forecast points to a potential upside of 31.16. The average equity rating for SEDG stock is currently 2.86, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.88 billion, with 56.81 million shares outstanding and 56.29 million shares in the current float. Compared to the average trading volume of 3.70M shares, SEDG stock reached a trading volume of 4137545 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Solaredge Technologies Inc [SEDG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SEDG shares is $99.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SEDG stock is a recommendation set at 2.86. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Solaredge Technologies Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on Jan-18-24.

The Average True Range (ATR) for Solaredge Technologies Inc is set at 4.94, with the Price to Sales ratio for SEDG stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 18.10.

SEDG Stock Performance Analysis:

Solaredge Technologies Inc [SEDG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.66. With this latest performance, SEDG shares dropped by -29.17% in over the last four-week period, additionally sinking by -75.12% over the last 6 months – not to mention a drop of -78.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SEDG stock in for the last two-week period is set at 30.51, with the RSI for the last a single of trading hit 22.94, and the three-weeks RSI is set at 34.56 for Solaredge Technologies Inc [SEDG]. The present Moving Average for the last 50 days of trading for this stock 82.09, while it was recorded at 74.78 for the last single week of trading, and 183.87 for the last 200 days.

Insight into Solaredge Technologies Inc Fundamentals:

Solaredge Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.49 and a Current Ratio set at 3.84.

SEDG Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SEDG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Solaredge Technologies Inc go to 12.94%.

Solaredge Technologies Inc [SEDG] Institutonal Ownership Details

The top three institutional holders of SEDG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SEDG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SEDG stock with ownership which is approximately 5.8325%.