5 Best Solar Energy Stocks to Buy Today

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In this article, we discuss the 5 best solar energy stocks to buy today. If you want to read our detailed analysis of these companies, go directly to the 10 Best Solar Energy Stocks to Buy Today.

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

Number of Hedge Fund Holders: 37

SolarEdge Technologies, Inc. (NASDAQ:SEDG) ranks fifth on the list of 10 best solar energy stocks to buy today. The Israeli-based solar energy company develops and sells residential solar systems which include power optimizers, inverters, storage, and a monitoring platform. 

On August 31, Wolfe Research analyst Steve Fleishman initiated an Outperform rating on SolarEdge Technologies, Inc. (NASDAQ:SEDG), noting that the company’s inverter products are likely to drive solar industry advancement.

In the second quarter of 2021, SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported an EPS of $1.28, beating estimates by $0.17. The company’s revenue in the second quarter was $480.1 million, an increase of 55% year over year, and beat revenue estimates by $24.42 million. The stock has gained 41.5% in the past twelve months.

At the end of the second quarter of 2021, 37 hedge funds in the database of Insider Monkey held stakes worth $675 million in SolarEdge Technologies, Inc. (NASDAQ:SEDG), up from 32 hedge funds in the previous quarter worth $421 million.

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