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Solaredge Technologies Inc [SEDG] Director makes an insider acquire of 7,000 shares worth 474,250.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $1.95 million following the completion of this transaction.

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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 $0.73 million.

As published in a research note from Scotiabank on June 25, 2024, Solaredge Technologies Inc [SEDG] has been retained to a Sector perform and the price target has been revised to $46. Analysts at JP Morgan resumed the stock at ‘”an Overweight”‘ outlook in a report released in late June. As of June 25, 2024, Canaccord Genuity has reiterated its “Hold” rating for SEDG. Earlier on May 13, 2024, Susquehanna downgraded its rating. Their new recommendation was “a Neutral” for SEDG stock which previously was a “a Positive”.

Analyzing SEDG Stock Performance

During the last five days, there has been a surge of approximately 0.92%. Over the course of the year, Solaredge Technologies Inc shares have dropped approximately -73.06%. Shares of the company reached a 52-week high of $97.27 on 01/02/24 and a 52-week low of $23.51 on 07/02/24. A 50-day SMA is recorded $46.28, while a 200-day SMA reached $74.09. Nevertheless, trading volume fell to 3.87 million shares from 5.28 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 24.55, which, if violated, would cause prices to drop to 23.79. In the upper region, resistance lies at 25.78. The next price resistance is at 26.25. RSI (Relative Strength Index) is 20.04 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.52, which suggests the price will decrease in the coming days. Percent R is at 91.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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