8 Best Climate Change Stocks To Invest In Right Now

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

Upside Potential: 70.60%  

SolarEdge Technologies, Inc. (NASDAQ:SEDG) develops smart energy solutions, including inverters and energy storage systems for solar installations. The company’s innovative technologies enhance the efficiency of solar energy systems while offering real-time monitoring and energy optimization.

On November 6, SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported third-quarter results for the three months that ended September 30, revealing a complex picture that may have initially disappointed investors. However, upon closer examination, it becomes clear that the company is navigating a challenging period with a clear plan to emerge stronger and more resilient. Despite a 2% decline in revenue, SolarEdge Technologies, Inc.’s (NASDAQ:SEDG) solar segment showed a 3% increase in revenue compared to the prior quarter. Moreover, the company’s non-GAAP operating expenses remained relatively stable, increasing only 1% from the prior quarter and down 9% from $128.0 million in the same quarter last year, which indicates effective cost management.

SolarEdge Technologies, Inc. (NASDAQ:SEDG) undertook an asset valuation analysis which resulted in a write-down and impairment of various assets. In total, the write-down and impairment amount was $1.03 billion. This impairment charge was a major contributor to the company’s reported losses. While this charge is undoubtedly substantial, it is a one-time event that allows the company to revalue its assets and move forward with a cleaner balance sheet.

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has a strong position in the solar inverter market. While the company’s European market has been challenging, SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been working to diversify its revenue streams and expand into new markets. The company has made significant progress in the US market, and its products are gaining traction in other regions such as Australia and Asia. This diversification effort should help to reduce the company’s dependence on the European market and provide a more balanced revenue stream.