8-Nov-2024
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SolarEdge Technologies designs, develops, and sells direct current optimized inverter systems for solar photovoltaic installations. The company system consists of power optimizers, inverters, and cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations. The company sells its products directly to solar installers, engineering, procurement, and construction firms and indirectly to solar installers through distributors and electrical equipment wholesalers.
Solaredge Technologies trades on the NASDAQ stock market under the symbol SEDG.
As of November 8, 2024, SEDG stock price declined to $13.53 with 7,596,564 million shares trading.
SEDG has a beta of 1.70, meaning it tends to be more sensitive to market movements. SEDG has a correlation of 0.06 to the broad based SPY ETF.
SEDG has a market cap of $775.26 million. This is considered a Small Cap stock.
Last quarter Solaredge Technologies reported $261 million in Revenue and -$15.33 earnings per share. This fell short of revenue expectation by $-8 million and missed earnings estimates by -$13.70.
In the last 3 years, SEDG traded as high as $389.71 and as low as $12.38.
The top ETF exchange traded funds that SEDG belongs to (by Net Assets): IJR, VGT, TAN, VXF, ICLN.
SEDG has underperformed the market in the last year with a price return of -80.9% while the SPY ETF gained +38.4%. SEDG has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -40.8% and -16.0%, respectively, while the SPY returned +13.1% and +3.3%, respectively.
SEDG support price is $13.97 and resistance is $15.79 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SEDG shares will trade within this expected range on the day.