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Summary
These Top 10 renewal energy stocks started the week strong, moving higher into the close. SolarEdge Technologies (SEDG) earns the No. 1 ranking among solar stocks, trading higher again this morning (+1.20) in the morning session. The stock is on IBD’s latest list of top mutual fund buys. Fidelity, in addition to more than 50 funds with an IBD A+ rating have reported owning SolarEdge shares in the most recent reporting period.
SEDG also sports a 99 Composite Rating signifying SolarEdge stock is outperforming 99% of all stocks as ranked by IBD.
Funds Top Pick – SolarEdge
SEDG has come back to all-time highs, mustering a gain of more than 120% from its March lows. In addition to top mutual fund support, SolarEdge’s exceptional earnings and sales growth elevates the company to the top pick category. SolarEdge has annual EPS growth averaging better than 80%.
SolarEdge Innovation
The company is a global leader in smart energy technology, changing the ways in which power is harvested and managed in photovoltaic (PV) systems. Since it began shipping in 2010, SolarEdge has shipped 1.5 million inverters and over 45 million power optimizers. – source IBD
The company has zero debt and exceptional EBITDA numbers.
SEDG stock is performing well. recently completing a cup and handle the continuation pattern. We are watching for volume to pick up.
Here are some additional stocks from the group
| NAME | CLOSE | % CHG | |||
|---|---|---|---|---|---|
| NOVA | Sunnova Energy International Inc. | 16.44 | 9.60 | ||
| BLDP | Ballard Power Systems, Inc. | 11.70 | 8.43 | ||
| SEDG | SolarEdge Technologies, Inc. | 150.70 | 6.20 | ||
| SOL | ReneSola Ltd. | 1.08 | 5.90 | ||
| RUN | Sunrun Inc. | 17.67 | 5.81 | ||
| FCEL | FuelCell Energy, Inc. | 2.25 | 5.63 | ||
| ENPH | Enphase Energy Inc. | 59.68 | 2.56 | ||
| SPWR | SunPower Corp. | 7.40 | 2.49 | ||
| VWSYF | Vestas Wind Systems | 104.00 | 1.86 | ||
| TPIC | TPI Composites, Inc. | 21.11 | 1.73 |
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Happy Trading,
Vinny
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