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

Solaredge Technologies Inc [NASDAQ: SEDG] traded at a high on Thursday, posting a 0.34 gain after which it closed the day’ session at $70.44. The company report on January 21, 2024 at 11:48 AM that SolarEdge Announces a Global Workforce Reduction.

SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced today a restructuring plan that includes workforce reduction designed to reduce operating expenses and align its cost structure to current market dynamics.

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The workforce reduction impacts approximately 16% of the SolarEdge global workforce, or approximately 900 employees, of which approximately 500 are from the Company’s various manufacturing sites.

The results of the trading session contributed to over 3734248 shares changing hands. Over the past one week, the price volatility of Solaredge Technologies Inc stands at 6.89% while the volatility over the past one month is 5.28%.

The market cap for SEDG stock reached $4.00 billion, with 56.81 million shares outstanding and 56.29 million shares in the current float. Compared to the average trading volume of 3.40M shares, SEDG reached a trading volume of 3734248 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $99.03 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 January 17, 2024.

The Average True Range (ATR) for Solaredge Technologies Inc is set at 4.86, with the Price to Sales ratio for SEDG stock in the period of the last 12 months amounting to 1.13. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 18.10.

How has SEDG stock performed recently?

Solaredge Technologies Inc [SEDG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.69. With this latest performance, SEDG shares dropped by -26.65% in over the last four-week period, additionally sinking by -71.16% over the last 6 months – not to mention a drop of -77.16% 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 35.91, with the RSI for the last a single of trading hit 32.99, and the three-weeks RSI is set at 37.92 for Solaredge Technologies Inc [SEDG]. The present Moving Average for the last 50 days of trading for this stock 81.89, while it was recorded at 70.69 for the last single week of trading, and 177.30 for the last 200 days.

Solaredge Technologies Inc [SEDG]: Deeper insight into the 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.

Earnings analysis for Solaredge Technologies Inc [SEDG]

With the latest financial reports released by the company, Solaredge Technologies Inc posted 2.86/share EPS, while the average EPS was predicted by analysts to be reported at 1.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 83.30%. 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%.

Insider trade positions for Solaredge Technologies Inc [SEDG]

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%.