Stocks were flat this morning to start the final trading day of the month, the quarter and the first half of 2021. So far, for the year the Nasdaq and the Dow are both up 12% and the S&P 500 has seen a 14% gain. The S&P 500 and the Nasdaq Composite are both set for monthly gains for June while the Dow is looking towards a monthly loss for the first time in four months.
Solar stocks got slammed in May due to the impact of supply chain bottlenecks and parts shortages, but the sector seems to be gaining strength as the move toward renewable energy is becoming more mainstream in the U.S. and especially internationally.
Rapidly declining installation costs and increasing demand across the public and private sector could send solar stocks on an upward path for years to come. Business Insights projects that the $163 billion global solar industry will reach $194.75 billion by 2027, exhibiting a CAGR of 6%.
Solar power isn’t going anywhere anytime soon, which means continued growth can be expected in the long term. In today’s trade alert we’ll focus on a company that’s gearing up for the global shift to solar. Read on to find out why this company stands out among its peers.
Israel based SolarEdge Technologies (SEDG). SolarEdge operates in more than 30 markets, providing inverters, optimizers, monitoring equipment & tools and accessories for harvesting and conversion of solar energy.
The American marketplace is more saturated and has heavier competition, but SolarEdge has shown itself adept at making hay in Europe. The company reported that the European continent accounted for $144 million in revenue, which represents a revenue increase of $22 million from the previous quarter.
SolarEdge technology is some of the most respected in the industry, mostly due to the fantastic job they’ve done in reinvesting in the business. This is especially true when it comes to its inverters where it is hands down the market leader. Its solar photovoltaic (PV) inverter systems are being installed in more than 133 countries across five continents.
Climate change is an important global issue right now. SEDG share price will likely rise even more over the next few years as more residential and solar properties switch to solar power.
The current consensus among 22 polled analysts is to Buy SEDG stock. 13 rate the stock a Buy, 6 call it a Hold and only 3 analysts say to Sell SEDG. The 20 analysts offering 12-month price forecasts for SolarEdge have a median target of $313, which represents a 10% increase from its current price.
Where to invest $1,000 right now...
Before you consider buying SolarEdge, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not SolarEdge.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
Click here to watch his presentation, and decide for yourself...
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Click here to find out the name and ticker of Keith's #1 pick...
