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SolarEdge Technologies (NASDAQ:SEDG) shares were on track to end their seven-day losing streak on Wednesday, noting the first gains since December 28, 2023.
SEDG rose 1.07% to $78.05 by 1250 ET on Wednesday. The company fell about 20% over the course of the seven-day slump. At its current value, the stock hovered near its December lows. Overall, on a 12-month reading, the stock has fallen 72.68%
Looking at Seeking Alpha’s Quant ratings, SolarEdge had a Strong Sell rating along with a score of 1.26 out of 5. The company was graded a C on profitability and an F on momentum.
Turning to the Wall Street community, about seven analysts surveyed in the last 90 days had rated the stock as a Buy or higher. Meanwhile, about 22 analysts recommended the company as a Hold. Two rated the stock as a Sell or lower.
Seeking Alpha analysts generally saw the company as a Buy. SA Analyst Julian Lin endorsed SolarEdge as a Strong Buy noting an attractive valuation.
“As demand grows worldwide for electricity, I find it hard to believe a scenario where renewable energy generation is not larger — much larger, rather — in the future. SEDG is well positioned to capitalize on this trend, offering a complete solar product portfolio highlighted by its inverter solution,” said the analyst.