Solaredge Technologies Inc’s filing revealed that its Director AVERY MORE acquired Company’s shares for reported $0.47 million on Feb 29 ’24. In the deal valued at $67.75 per share,7,000 shares were bought. As a result of this transaction, AVERY MORE now holds 77,446 shares worth roughly $5.16 million.
Then, AVERY MORE bought 15,300 shares, generating $1,085,632 in total proceeds. Upon buying the shares at $70.96, the Director now owns 70,446 shares.
Before that, GANI MARCEL bought 5,000 shares. Solaredge Technologies Inc shares valued at $367,450 were divested by the Director at a price of $73.49 per share. As a result of the transaction, GANI MARCEL now holds 29,049 shares, worth roughly $1.94 million.
Janney downgraded its Solaredge Technologies Inc [SEDG] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late February has reiterated a ‘”an Outperform”‘ rating for it. RBC Capital Mkts began covering SEDG with “Sector perform” recommendation on February 14, 2024. Barclays revised its rating on January 17, 2024. It rated SEDG as “an Underweight” which previously was an “an Equal weight”.
Price Performance Review of SEDG
On Friday, Solaredge Technologies Inc [NASDAQ:SEDG] saw its stock fall -3.02% to $66.69. Over the last five days, the stock has lost -6.04%. Solaredge Technologies Inc shares have fallen nearly -28.75% since the year began. Nevertheless, the stocks have fallen -77.22% over the past one year. While a 52-week high of $322.19 was reached on 01/02/24, a 52-week low of $60.44 was recorded on 03/18/24. SMA at 50 days reached $70.43, while 200 days put it at $122.95. A total of 1.71 million shares were traded, compared to the trading of 1.15 million shares in the previous session.
Levels Of Support And Resistance For SEDG Stock
The 24-hour chart illustrates a support level at 65.12, which if violated will result in even more drops to 63.55. On the upside, there is a resistance level at 68.54. A further resistance level may holdings at 70.39. The Relative Strength Index (RSI) on the 14-day chart is 46.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.40, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 52.49%. Stochastics %K at 57.85% indicates the stock is a holding.
How much short interest is there in Solaredge Technologies Inc?
A steep rise in short interest was recorded in Solaredge Technologies Inc stocks on Mar 15, 2024, dropping by -1.07 million shares to a total of 7.75 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 8.82 million shares. There was a decline of -13.81%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 13.67% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.91.
The most recent change occurred on January 16, 2024 when Canaccord Genuity began covering the stock and recommended ‘”a Hold”‘ rating along with a $80 price target.
