The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Solaredge Technologies Inc shares valued at $474,250 were purchased by AVERY MORE on Feb 29 ’24. At $67.75 per share, AVERY MORE acquired 7,000 shares. The insider’s holdings grew to 77,446 shares worth approximately $5.48 million following the completion of this transaction.
Also, AVERY MORE purchased 15,300 shares, netting a total of over 1,085,632 in proceeds. Following the buying of shares at $70.96 each, the insider now holds 70,446 shares.
Before that, GANI MARCEL had added 5,000 shares to its account. In a trade valued at $367,450, the Director bought Solaredge Technologies Inc shares for $73.49 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $2.05 million.
As published in a research note from Janney on March 22, 2024, Solaredge Technologies Inc [SEDG] has been rated down from a Buy to a Neutral. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in late February. As of February 14, 2024, RBC Capital Mkts has initiated its “Sector perform” rating for SEDG. Earlier on January 17, 2024, Barclays downgraded its rating. Their new recommendation was “an Underweight” for SEDG stock which previously was a “an Equal weight”.
Analyzing SEDG Stock Performance
During the last five days, there has been a surge of approximately 3.38%. Over the course of the year, Solaredge Technologies Inc shares have dropped approximately -24.47%. Shares of the company reached a 52-week high of $97.27 on 01/02/24 and a 52-week low of $60.44 on 03/18/24. A 50-day SMA is recorded $70.42, while a 200-day SMA reached $120.30. Nevertheless, trading volume fell to 1.66 million shares from 1.08 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 68.39, which, if violated, would cause prices to drop to 66.07. In the upper region, resistance lies at 72.20. The next price resistance is at 73.69. RSI (Relative Strength Index) is 53.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.99, which suggests the price will increase in the coming days. Percent R is at 28.40%, indicating bullish price movement. Stochastics %K at holding 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 Mar 15, 2024 dropping by -1.07 million shares to 7.75 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.82 million shares. A decline of -13.81% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.91 of the overall float, the days-to-cover ratio (short ratio) decline to 2.91.
