5 Best Wind Power and Solar Stocks To Buy

In this article, we will discuss 5 best wind power and solar stocks to buy. To read our detailed analysis of the wind and solar segments in the energy sector, go to 10 Best Wind Power and Solar Stocks To Buy.

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

Number of Hedge Fund Holders: 34

SolarEdge Technologies, Inc. (NASDAQ:SEDG) designs, develops, and sells direct current optimized inverter systems for solar photovoltaic installations worldwide. The company operates through five business segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. 

On May 2, SolarEdge Technologies, Inc. (NASDAQ:SEDG) announced earnings for the fiscal first quarter of 2022. The company registered an EPS of $1.20 and generated revenues of $655.08 million, up 61.55% year over year, and outperformed revenue consensus by $20.75 million.

Shortly after SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported Q1 2022 earnings, Needham analyst Vikram Bagri raised his price target on the stock to $390 from $347 and maintained a Buy rating on the shares. Bagri further noted the company’s market-beating Q1 performance and told investors that the company is well-positioned to experience growing margins in the second half of 2022, citing robust demand to be a key driver. SolarEdge Technologies, Inc. (NASDAQ:SEDG) is among the 5 best wind power and solar stocks to buy.

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is becoming a popular stock pick among investor circles. At the end of the fourth quarter of 2021, 34 hedge funds were long SolarEdge Technologies, Inc. (NASDAQ:SEDG) with stakes of $766.59 million. This is compared to 33 hedge funds in the third quarter with stakes worth $594.46 million. The hedge fund sentiment for the stock is positive.

As of March 31, 2022, Montanaro Asset Management is the most bullish hedge fund on SolarEdge Technologies, Inc. (NASDAQ:SEDG). The fund’s stakes were valued at $50.54 million, which represents 6.22% of its 13F portfolio.

ClearBridge Investments, an investment management firm, published its first-quarter 2022 investor letter, in which it shared its insights on SolarEdge Technologies, Inc. (NASDAQ:SEDG). Here is 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.”