SolarEdge Technologies’ earnings edged past analysts’ expectations for the first quarter.
The solar energy technology company reported adjusted earnings of 64 cents per share, which exceeded analysts' estimates of 62 cents. Revenue of $271.9 million also beat analysts’ expectations of $265.4 million.
Guy Sella, founder, chairman and CEO of SolarEdge, mentioned Europe as a strong contributor to the first quarter growth. Sella also said that the acquisition of SMRE makes way for SolarEdge’s entry into the e-mobility market.
For the current quarter, the company expects revenue to range between $310 million and $320 million. Analysts are expecting the company’s revenue to be $314.9 million for the quarter.
SEDG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 39 cases where SEDG's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 56 cases where SEDG's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on June 07, 2023. You may want to consider a long position or call options on SEDG as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SEDG advanced for three days, in of 317 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for SEDG turned negative on May 31, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 56 similar instances when the indicator turned negative. In of the 56 cases the stock turned lower in the days that followed. This puts the odds of success at .
SEDG moved below its 50-day moving average on June 06, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for SEDG crossed bearishly below the 50-day moving average on June 02, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SEDG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock better than average.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. SEDG’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.954) is normal, around the industry mean (5.967). P/E Ratio (85.470) is within average values for comparable stocks, (75.678). Projected Growth (PEG Ratio) (1.009) is also within normal values, averaging (2.134). Dividend Yield (0.000) settles around the average of (0.026) among similar stocks. P/S Ratio (5.023) is also within normal values, averaging (93.034).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of distributed solar power harvesting and photovoltaics monitoring solutions
A.I.dvisor indicates that over the last year, SEDG has been closely correlated with ENPH. These tickers have moved in lockstep 75% of the time. This A.I.-generated data suggests there is a high statistical probability that if SEDG jumps, then ENPH could also see price increases.
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