5 Best Solar Energy Stocks to Invest In

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

Number of Hedge Fund Holders: 32

SolarEdge Technologies, Inc. (NASDAQ: SEDG) is a developer of direct current optimized inverter systems for solar photovoltaic installations worldwide. The company offers power optimizers, communication devices, and smart energy management solutions for residential, commercial, and small utility-scale solar installations and inverters. It ranks 4th on our list of the best solar energy stocks to invest in.

In the first quarter of 2021, SolarEdge Technologies, Inc. (NASDAQ: SEDG) had EPS of $0.98, and its revenue came in at $405.49 million, beating estimates by $9.92 million. According to the Wall Street Journal, the stock has gained 94.84% in the past year and has Buy ratings from 13 analysts.

By the end of the first quarter of 2021, 32 hedge funds out of the 866 tracked by Insider Monkey held stakes in SolarEdge Technologies, Inc. (NASDAQ: SEDG). The total value of their stakes was roughly $420 million. This is compared to the previous quarter’s 28 hedge fund holders with a total stake value of approximately $458 million.

Richie Capital Group, an investment management firm, mentioned SolarEdge Technologies, Inc. (NASDAQ: SEDG) in their first-quarter 2021 investor letter. Here’s what they said:

“Our biggest detractors for the quarter included SolarEdge Technologies (SEDG – down 11.2%) – The Smart Energy solar company declined during the quarter along with most other solar energy stocks due to concerns over higher interest rates. Higher interest rates will make it more expensive for businesses and consumers to borrow money for residential and commercial solar projects. We expect interest rates to be somewhat of a headwind for years to come. However, the stronger underlying trends are in their favor. We expect SEDG to be a net winner from the Biden Administration’s infrastructure plan which focuses on Clean Energy.”