5 Best Mid-Cap Stocks For 2021

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

Number of Hedge Fund Holders: 37

SolarEdge Technologies, Inc. (NASDAQ: SEDG) is an energy technology company mainly developing and producing solar inverters as well as energy storage products. It is ranked third on our list of 15 best mid-cap stocks for 2021. The stock has returned over 30.66% to investors over the course of the past year.

On August 2, SolarEdge Technologies, Inc. (NASDAQ: SEDG) posted earnings for the second quarter of 2021, reporting earnings per share of $1.28, beating estimates by $0.17. The revenue over the period was around $480 million, up 44.66% year-over-year.

At the end of the second quarter of 2021, 37 hedge funds in the database of Insider Monkey held stakes worth $676 million in SolarEdge Technologies, Inc. (NASDAQ: SEDG), up from 32 the preceding quarter worth $421 million.

Out of the hedge funds tracked by Insider Monkey, billionaire Ken Griffin’s Citadel increased its stake in SolarEdge Technologies, Inc. (NASDAQ: SEDG) by 1040% during the second quarter of 2021. This stake is worth $92 million, comprising 0.02% of its 13F portfolio. Among the hedge funds tracked by Insider Monkey, Impax Asset Management has the most valuable stake in SolarEdge Technologies, Inc. (NASDAQ: SEDG) as of the end of the second quarter of 2021, worth close to $212 million, comprising 0.93% of its 13F portfolio.

On August 4, Susquehanna boosted its price target on SolarEdge Technologies, Inc. (NASDAQ: SEDG) to $350 from $325 while reiterating a Positive rating. Susquehanna notes that the volumes of energy storage products SolarEdge Technologies, Inc. (NASDAQ: SEDG) sells are anticipated to rise in the next year.