5 Most Popular Green Energy Stocks Among Elite Hedge Funds

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

Number of Hedge Fund Holders: 34

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is an Israel-based company that manufactures and markets power optimizers, solar inverters, and monitoring systems for photovoltaic arrays. 

Elite hedge funds own large stakes in SolarEdge Technologies, Inc. (NASDAQ:SEDG). In Q4 2021, 34 hedge funds reported owning stakes in SolarEdge Technologies, Inc. (NASDAQ:SEDG), with total stakes worth $766.5 million. Impax Asset Management owns 754,007 shares of the company, worth $210.8 million. It is the largest stakeholder of SolarEdge Technologies, Inc. (NASDAQ:SEDG). 

On February 15, SolarEdge Technologies, Inc. (NASDAQ:SEDG) posted earnings for the fourth quarter of 2021. The company posted an EPS of $1.10, missing estimates by $0.22. SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s revenue increased 54.12% from the prior-year quarter to approximately $552 million, outperforming estimates by $1.96 million. 

Citi analyst J.B. Lowe raised the price target on SolarEdge Technologies, Inc. (NASDAQ:SEDG) on February 17 to $320 from $310 and kept a Buy rating on the shares. The company posted a “weak” Q4 but issued Q1 guidance 3% ahead of the Street, largely on a higher revenue outlook, the analyst told investors in a research note. 

Here is what ClearBridge Investments has to say about SolarEdge Technologies, Inc. (NASDAQ:SEDG) in its Q2 2021 investor letter:

“Our sustainability orientation has led us to favor renewable energy providers such as SolarEdge over traditional fossil fuel energy companies. Renewables stocks moved up very strongly over the last several quarters on optimism about huge green stimulus plans in Europe and the U.S. so we took profits and sold SolarEdge Technologies as valuations became demanding.”