A Top Stock To Watch And Buy For The August 10-14, 2020 Trading Week.

Stock picking is tough. Stock investing is riskier, compared to mutual funds. But picking and holding the right stock over the long term can make you rich. Here's our top stock pick for the August 10-14, 2020 trading week. You can check out our stock pick for the week of August 3-7.

World stock markets have somewhat recovered from their coronavirus pandemic March 2020 lows, but there are still lucrative opportunities out there. Each weekend, we will attempt to highlight a stock we think has great future upside, and could deliver solid returns in the near to long term. Without further ado, our top stock pick for the August 10-14 trading week is...

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Solar Edge Technologies, Inc (SEDG)

Let's take you to the technology sector and solar industry with Solar Edge Technologies, Inc (SEDG). SEDG is a global leader in smart energy technology. Together with its subsidiaries, SolarEdge "designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform. The company's products are used in a range of solar market segments, such as residential, commercial, and small utility-scale solar installations." Learn more about SolarEdge. 

In the early days of the Covid-19 pandemic, the stock was more affordable than it is today. SEDG closed down at $69.61 on 03/20/2020. However, the stock has recently surged. SEDG hit a 52-week high of $221.25 on 08/05/2020, after crushing Q2 earnings and estimates. SEDG gained +$5.15/share or 2.50% to close at $211.47 on 08/07/2020. We believe the stock has more room left to run for the long-term buy-and-hold investor.

SEDG Historical Performance

Below are the historical returns for SEDG. Where appropriate and available, we display returns for the S&P 500 for comparison. Returns data are courtesy of Seeking Alpha. Data is current as of the article publication date.

The bottom line

The secret to building sustainable wealth is investing in companies with solid business fundamentals and holding them for the long term. SolarEdge is one of such companies. It is currently trading at $211.47/share. It has a P/E ratio of 63.24 (Yahoo Finance) and a Zack's Rank of 3 (Hold). We believe SEDG is a great stock to add to your portfolio for long-term wealth. For more information on SEDG, visit the investor relations page. A Biden presidency, which could champion clean energy, should help propel SEDG to even greater heights. 

Do you have great stock ideas? Please share with us in the comment section.

Disclosure: We are Long $SEDG. All data is current as of the date of article publication. This article may contain affiliated links to one or more investment products. We may receive a small commission when you click on the links and sign up for services. Thanks! Information presented here should not be construed as financial advice. You are always encouraged to conduct your own research. Read our full disclaimer.

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