10 Best EV Stocks to Buy Under $50

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

Share Price: $15.85

Number of Hedge Fund Holders: 30

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is an Israeli smart energy technology company that is best known for its intelligent inverter solutions that enhance the efficiency of solar photovoltaic (PV) systems. The company also specializes in developing and selling products for the EV market. Overall, the company serves a broad range of energy market segments through its PV, storage, EV charging, batteries, and grid services solutions. Through its e-Mobility segment, SolarEdge Technologies, Inc. (NASDAQ:SEDG) offers a range of solutions for the EV market, including e-Drive systems, charging and DC converter solutions, vehicle management, and energy storage and distribution solutions.

The company is making strategic investments to position itself for future growth within the EV industry. According to SolarEdge Technologies, Inc. (NASDAQ:SEDG), distributed renewable energy will play a vital role in maximizing the potential of electric mobility. In April 2024, the company completed the acquisition of Wevo Energy Ltd., a software startup that focuses on optimizing and managing EV charging systems. Wevo’s software is used to support locations with large numbers of EV chargers. These can include apartment buildings, workplace parking lots, and public charging locations. SolarEdge Technologies, Inc. (NASDAQ:SEDG) will be looking to use Wevo’s expertise in EV charging optimization to integrate on-site solar generation, battery storage, and large-scale EV charging. Through this acquisition, SolarEdge Technologies, Inc. (NASDAQ:SEDG) expands its offerings for commercial and industrial customers.