SolarEdge Technologies, Inc. (NASDAQ: SEDG) shares rose in value on Tuesday January 17 on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trade, the Dow Jones Industrial Average was 47 points lower, or 0.24% to 19838, the S&P 500 fell 7 points, or 0.29% to 2267, while the Nasdaq was down 19 points, or 0.35% to 5554.
Analysts at Zacks Investment Research upgraded shares of SolarEdge Technologies, Inc. (NASDAQ: SEDG) from Sell to Hold today. Zacks Investment Research currently has a rating of Hold on the shares. The one-year price target of $16.85 is above the opening price of $13.55, causing a number of other analysts to comment on the stock recently. Looking back over the last year, SolarEdge Technologies, Inc. stock has a high of $30.50. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Yesterday SolarEdge Technologies, Inc. (NASDAQ: SEDG) shares last traded at $14.00, which represents an increase of $0.50 over the previous closing price. Opening at $13.55, they fluctuated from $13.50 and $14.00 throughout the day.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) now has a market cap of 574.88M.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) Average Daily Trading Volume
The stock’s average daily volume is 842,743 shares out of a total float 15,956,000 and some 96,461 shares traded hands yesterday, 29 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for SolarEdge Technologies, Inc. (NASDAQ: SEDG) have ranged from $11.35 – 30.50, and the stock now has a 50-day MA of $13.17 and 200-day MA of $15.94. Today’s last price is 54.10%% below the 52 week high of $30.50.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors look for companies that have raised their earnings at least 25% or more over the past 3 years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.