Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund Manager David Einhorn Recommends Solar Stocks Sunedison Inc (SUNE) And TerraForm Power Inc (TERP)

Greenlight Capital’s President David Einhorn recommended two solar stock names at the Robin Hood Investors conference. Einhorn’s interest in renewables stock was well known since he bought Sunedison Inc (NYSE:SUNE) in the second quarter. Bloomberg’s Julie Hyman reported about the Einhorn’s recommendations on Bloomberg TV.

Greenlight Capital

Einhorn recommended the Sunedison Inc (NYSE:SUNE) earlier this year and bought its shares at $15.55 in the second quarter. The stock is currently trading at more than $17.5, which gained more than 6% since Einhorn bought its shares. Now Einhorn has added TerraForm Power Inc (NASDAQ:TERP) to his favorites list, which again is a solar stock like Sunedison. TerraForm Power is currently trading at more than $27 per share.

“David Einhorn spoke at the Rohin Hood Conference, apparently recommending a couple of solar stocks, that’s according to people who were at the conference, who disclosed to the media. TerraForm Power and Sunedison are the names that he mentioned,” Hyman reported.

Hyman mentioned that Einhorn has talked about his interest in Sunedison Inc (NYSE:SUNE) in beginning of the year and bought it in the second quarter. Einhorn’s Greenlight Capital believed that the rise in electricity prices and decreasing cost of solar energy might position the Sunedison comfortably in the days to come. To strengthen his stand on that belief, Einhorn has added another solar stock, TerraForm Power Inc (NASDAQ:TERP) to his list of favorite stocks.

Hyman added that both Sunedison Inc (NYSE:SUNE) and TerraForm Power Inc (NASDAQ:TERP) stocks are soaring at the wake of this recommendation by Einhorn.

David Einhorn has been a very successful hedge manager for almost a decade. Einhorn’s Greenlight Capital has returned 19.5% till date and currently has a portfolio value of more than $7 billion. As of 30 June 2014, Greenlight Capital owns more than 21 billion Sunedison Inc (NYSE:SUNE) shares.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.