Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SolarEdge Technologies Inc. shares valued at $157,588 were purchased by Faier Ronen on Aug 09. At $180.10 per share, Faier Ronen acquired 875 shares. The insider’s holdings grew to 73,414 shares worth approximately $11.52 million following the completion of this transaction.
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Also, Adest Meir sold 300 shares, netting a total of over 90,650 in proceeds. Following the sale of shares at $302.17 each, the insider now holds 126,624 shares.
Before that, Faier Ronen had sold 57 shares from its account. In a trade valued at $16,710, the Chief Financial Officer traded SolarEdge Technologies Inc. shares for $293.16 each. Upon closing the transaction, the insider’s holdings decreased to 57 shares, worth approximately $11.38 million.
As published in a research note from BofA Securities on August 16, 2023, SolarEdge Technologies Inc. [SEDG] has been rated down from a Buy to a Neutral and the price target has been revised to $181 from $320. This represents a 13.29% premium over Thursday’s closing price.
Analyzing SEDG Stock Performance
On Thursday, SolarEdge Technologies Inc. [NASDAQ: SEDG] plunged -6.06% to $156.94. The stock’s lowest price that day was $156.74, but it reached a high of $167.935 in the same session. During the last five days, there has been a drop of approximately -3.58%. Over the course of the year, SolarEdge Technologies Inc. shares have dropped approximately -44.60%. Shares of the company reached a 52-week high of $345.80 on 02/15/23 and a 52-week low of $156.74 on 08/24/23. A 50-day SMA is recorded $230.66, while a 200-day SMA reached $282.23. Nevertheless, trading volume fell to 1.83 million shares from 0.94 million shares the previous day.
Support And Resistance Levels for SolarEdge Technologies Inc. (SEDG)
According to the 24-hour chart, there is a support level at 153.14, which, if violated, would cause prices to drop to 149.34. In the upper region, resistance lies at 164.34. The next price resistance is at 171.73. RSI (Relative Strength Index) is 20.09 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.43, which suggests the price will decrease in the coming days. Percent R is at 99.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is SolarEdge Technologies Inc. subject to short interest?
Stocks of SolarEdge Technologies Inc. saw a sharp steep in short interest on Jul 30, 2023 dropping by -0.23 million shares to 3.46 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 3.69 million shares. A decline of -6.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.11 of the overall float, the days-to-cover ratio (short ratio) decline to 3.11.
Which companies own the most shares of SolarEdge Technologies Inc. (SEDG)?
According to BlackRock Fund Advisors filings, the company currently owns 2,961,946 shares, which is about 5.26% of the total SEDG shares outstanding. The investor’s shares have appreciated by 168,702 from its previous 13-F filing of 2793244.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $554,471,117. The Vanguard Group, Inc. acquire a 7.44% interest valued at $535.21 million while BlackRock Advisors purchased a 158,692 stake. A total of 50,000 shares of SolarEdge Technologies Inc. were bought by Swedbank Robur Fonder AB during the quarter, and 608,291 were bought by D. E. Shaw & Co. LP. In its current portfolio, Invesco Capital Management LLC holds 1,411,789 shares valued at $340.89 million.
In terms of SolarEdge Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $298.40 in the next 12 months, up nearly 79.57% from the previous closing price of $167.07. Analysts anticipate SolarEdge Technologies Inc. stock to reach $384.00 by 2023, with the lowest price target being $103.95. In spite of this, 36 analysts ranked SolarEdge Technologies Inc. stock as an Overweight at the end of 2023.