SolarEdge Technologies Inc. (SEDG) – Don’t Be So Quick to Call it Dead

784 institutions hold shares in SolarEdge Technologies Inc. (SEDG), with 639.61k shares held by insiders accounting for 1.24% while institutional investors hold 85.28% of the company’s shares. The shares outstanding are 51.34M, and float is at 50.01M with Short Float at 4.76%. Institutions hold 84.22% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 6.0 million shares valued at $1.91 billion. The investor’s holdings represent 11.63% of the SEDG Shares outstanding. As of Dec 30, 2020, the second largest holder is FMR, LLC with 2.97 million shares valued at $949.2 million to account for 5.77% of the shares outstanding. The other top investors are Swedbank which holds 2.74 million shares representing 5.31% and valued at over $874.58 million, while JP Morgan Chase & Company holds 3.19% of the shares totaling 1.65 million with a market value of $525.15 million.

SolarEdge Technologies Inc. (NASDAQ: SEDG) is -13.12% lower on its value in year-to-date trading and has touched a low of $78.36 and a high of $377.00 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SEDG stock was last observed hovering at around $268.97 in the last trading session, with the day’s gains setting it 8.28% off its average median price target of $334.00 for the next 12 months. It is also 36.26% off the consensus price target high of $435.00 offered by 23 analysts, but current levels are -443.63% lower than the price target low of $51.00 for the same period.

Currently trading at $277.25, the stock is -0.39% and -5.63% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.63 million and changing 3.08% at the moment leaves the stock 10.38% off its SMA200. SEDG registered 272.25% gain for a year compared to 6-month loss of 10.20%. The firm has a 50-day simple moving average (SMA 50) of $286.58 and a 200-day simple moving average (SMA200) of $282.96.

The stock witnessed a 11.15% gain in the last 1 month and extending the period to 3 months gives it a -10.95%, and is 6.62% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.94% over the week and 6.48% over the month.

SolarEdge Technologies Inc. (SEDG) has around 3174 employees, a market worth around $14.51B and $1.46B in sales. Current P/E ratio is 104.15 and Fwd P/E is 44.48. Profit margin for the company is 9.60%. Distance from 52-week low is 253.82% and -26.46% from its 52-week high. The company has generated returns on investments over the last 12 months (7.00%).

SolarEdge Technologies Inc. (SEDG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for SolarEdge Technologies Inc. (SEDG) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.80, where 11 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

SolarEdge Technologies Inc. is expected to release its quarterly report on 08/03/2021 and quarterly earnings per share for the current quarter are estimated at $1 with sales reaching $396.11M over the same period.The EPS is expected to shrink by -8.20% this year, but quarterly earnings will post 27.00% year-over-year. Quarterly sales are estimated to shrink -8.10% in year-over-year returns.

SolarEdge Technologies Inc. (SEDG) Insider Activity

A total of 229 insider transactions have happened at SolarEdge Technologies Inc. (SEDG) in the last six months, with sales accounting for 205 and purchases happening 24 times. The most recent transaction is an insider sale by GANI MARCEL, the company’s Director. SEC filings show that GANI MARCEL sold 3,000 shares of the company’s common stock on Apr 01 at a price of $293.15 per share for a total of $0.88 million. Following the sale, the insider now owns 27033.0 shares.

SolarEdge Technologies Inc. disclosed in a document filed with the SEC on Apr 01 that Adest Meir (VP, Core Technologies) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Apr 01 and was made at $288.59 per share for $2.89 million. Following the transaction, the insider now directly holds 0.3 million shares of the SEDG stock.

Still, SEC filings show that on Mar 24, Prishkolnik Rachel (VP,GC&Corporate Secretary) disposed off 3,742 shares at an average price of $275.08 for $1.03 million. The insider now directly holds 26,092 shares of SolarEdge Technologies Inc. (SEDG).

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SolarEdge Technologies Inc. (SEDG): Who are the competitors?

The company’s main competitors (and peers) include Analog Devices Inc. (ADI) that is trading 86.82% up over the past 12 months and Trimble Inc. (TRMB) that is 191.36% higher over the same period. Teradyne Inc. (TER) is 150.44% up on the 1-year trading charts. Short interest in the company’s stock has fallen -2.94% from the last report on Feb 11, 2021 to stand at a total of 2.45 million short shares sold with a short interest ratio of 1.98.

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