Shares are trading at $32.85 which is significantly higher than $29.03, the 50 day moving average and well above the 200 day moving average of $28.92. The 50 day moving average was up by +13.15% and the 200 day average went up $3.93 or +13.59%. (NASDAQ:SEDG) shares saw heavy trading volume with 641K shares changing hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 1.83% over the normal average daily volume.
Investors are a little more bullish on shares of the company lately if you take into consideration the downtick in short interest. The stock had a fall in short interest from September 29, 2017 to October 13, 2017 of -7.42%. Short shares decreased from 5,679,618 to 5,258,162 over that period. The short-interest ratio increased to 10.0 and the percentage of shorted shares is 0.13% as of October 13.
Additionally, here are a few investment firms who have increased or decreased their stake in (SEDG). Hamilton Lane Advisors LLC cut its investment by selling 110,263 shares a decrease of 49.9%. Hamilton Lane Advisors LLC currently owns 110,791 shares worth $3,163,000. The value of the position overall is down by 28.5%. Shell Asset Management CO reduced its holdings by shedding 163,704 shares a decrease of 20.3% from 06/30/2017 to 09/30/2017. Shell Asset Management CO owns 642,568 shares with a value of $18,345,000. The total value of its holdings increased 13.8%.
Caprock Group, Inc. augmented its stake by buying 3,815 shares an increase of 30.4% as of 09/30/2017. Caprock Group, Inc. controls 16,360 shares valued at $467,000. The total value of its holdings increased 86.1%. First Trust Advisors Lp trimmed its position by shedding 9,092 shares a decrease of 10.2% in the quarter. First Trust Advisors Lp now controls 80,080 shares with a value of $2,286,000. The total value of its holdings increased 28.2%.
On July 27 the company was upgraded to “Buy” from “Neutral” and a price target of $26.00 was set by Roth Capital. August 3 investment analysts at Deutsche Bank kept the company rating at “Overweight” but lowered the price target to $28.00 from $36.00.
On August 3 Barclays made no change to the company rating of “Overweight” and raised the price target from $17.00 to $28.00.
The P/E ratio is currently 29.12 and the market value is 1.38B. In the last earnings report the EPS was $1.13 and is projected to be $1.85 for the current year with 42,084,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.41 and the next full year EPS is anticipated to be $1.74.
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