Hedge fund sentiment towards SunPower Corporation (NASDAQ:SPWR) recorded a boost over the fourth quarter, as the number of long positions increased to 22 at the end of December, from 20 a quarter earlier. Together those 22 funds controlled roughly 4% of the company’s common stock. Bernard Lambilliotte is optimistic about the prospects of SunPower Corporation (NASDAQ:SPWR), having increased his investment by 7% during the fourth quarter to 1.04 million shares. Billionaire Steve Cohen, on the other hand, dumped a third of his stake in the company over the quarter, leaving Point72 Asset Management with 480,300 shares of SunPower Corporation (NASDAQ:SPWR). The stock did not trend much in either direction during 2015, but managed to end the year on a high, up by more than 15%.
Solaredge Technologies Inc (NASDAQ:SEDG) is another solar stock that gained in popularity over the fourth quarter, with the number of long hedge fund positions reaching 21 at the end of December, up from 16 at the end of the third quarter. Based in Israel, Solaredge Technologies Inc (NASDAQ:SEDG) markets an inverter system that enhances the ability of photovoltaic systems to harvest solar energy. The company went public in March 2015 and the stock had great momentum, surging by 115% in less than three months. The rally was short-lived, though, as by mid-November the stock reached an all-time low of $15.02 per share. It seems hedge fund managers took advantage of the decline and bought the stock on the dip. Over the fourth quarter, Israel Englander bought some 1.29 million shares of Solaredge Technologies Inc (NASDAQ:SEDG), taking his holding to roughly 1.32 million shares valued at $23.6 million. Bernard Lambilliotte was also buying up the stock, having amassed 837,398 shares by the end of December, with his position up by 232% over the quarter.