10 Best Solar Energy Stocks to Invest In

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

Hedge Funds Holding Stakes: 17

Upside potential as of August 2, 2024: 88%

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is one of the 10 best solar energy stocks to invest in to gain exposure to the burgeoning solar microinverter landscape. The company designs, manufactures and sells optimized inverter systems that enable the generation of optimized solar energy from solar photovoltaic installations.

SolarEdge Technologies, Inc. (NASDAQ:SEDG) boasts a diversified product line that includes inverters, power optimizers, and cloud-based monitoring systems. While the company initially targeted the residential market, it currently addresses the needs of the commercial market. While SolarEdge Technologies, Inc. (NASDAQ:SEDG) is down by about 20%, it offers a three-year average sales growth of 15.9%.

The number of hedge funds that hold stakes in SolarEdge Technologies, Inc. (NASDAQ:SEDG) dropped to 17 in Q1 2024 from 32 as of the end of last year, according to Insider Monkey. Based on 25 Wall Street analysts, SolarEdge boasts an average price target of $49.95, implying 88% upside potential from current levels.

The 10 best solar energy stocks to invest in offer exposure to the burgeoning solar energy sector amid the transition into clean, renewable energy. However, given that the artificial intelligence arms race is just starting, under-the-radar AI stocks are trading at highly discounted valuations with greater promise for anyone looking to diversify their portfolio. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.

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