5 Best Climate Change Stocks To Buy According To Hedge Funds

4. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Number of Hedge Fund Holders: 40

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is a Herzliya, Israel-based developer of solar inverters that play an integral part in how power is generated and managed in the solar PV system.

The inverter ensures that maximum power is generated at the lowest possible cost to enhance the return on investment (ROI). Mark Strouse at JPMorgan increased the price target on SolarEdge Technologies, Inc. (NASDAQ:SEDG) from $373 to $419 and reiterated an Overweight rating in an update issued on August 8. The target price reflects a potential upside of over 45% from the closing price as of September 23. The analyst increased the target price by over 12% to incorporate the positive impact of the Inflation Reduction Act (IRA). SolarEdge Technologies, Inc. (NASDAQ:SEDG) stock price has already achieved an eightfold increase since 2017.

ClearBridge Investments discussed its outlook on SolarEdge Technologies, Inc. (NASDAQ:SEDG) in its Q1 2022 investor letter. Here’s what the firm said:

“SolarEdge Technologies (NASDAQ:SEDG) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation and supply chain challenges as their long-term value was reaffirmed.”