Sectors & Industries TechnologySolar
Best Solar Stocks to Buy Now (2024)
Top solar stocks in 2024 ranked by overall Zen Score. See the best solar stocks to buy now, according to analyst forecasts for the solar industry.

Industry: Solar

Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Price	Graham Fair Value	Graham Fair Value %	P/E	Forward P/E	P/S	P/B	PEG	Free Cash Flow	Free Cash Flow Yield	Book Value	BVPS	EV	EV/EBITDA
FSLR	FIRST SOLAR INC	$180.51	$133.69	35.02%	18.82x	26.66x	5.41x	2.80x	0.78x	-$524.69M	-2.72%	$6.90B	64.56	$18.26B	12.49
CSIQ	CANADIAN SOLAR INC	$16.56	$73.96	-77.61%	3.95x	2.71x	0.14x	0.43x	0.11x	-$866.58M	-80.05%	$2.56B	39.15	$2.62B	3.48
JKS	JINKOSOLAR HOLDING CO LTD	$25.53	$70.02	-63.54%	2.78x	3.54x	0.08x	0.48x	0.46x	-$137.24M	-10.35%	$2.79B	53.69	$6.55B	3.38
ARRY	ARRAY TECHNOLOGIES INC	$13.06	$15.79	-17.30%	22.91x	10.79x	1.25x	7.62x	0.36x	$215.13M	10.91%	$259.25M	1.72	$2.41B	9.21
ENPH	ENPHASE ENERGY INC	$106.06	$43.23	145.31%	52.25x	21.25x	7.88x	15.64x	1.16x	$404.45M	2.81%	$922.72M	6.79	$15.47B	37.76
SHLS	SHOALS TECHNOLOGIES GROUP INC	$8.73	$5.97	46.28%	36.38x	9.92x	2.93x	2.73x	0.66x	$81.38M	5.68%	$545.00M	3.32	$1.65B	18.94
SOL	EMEREN GROUP LTD	$1.83	N/A	N/A	N/A	2.08x	1.19x	0.32x	N/A	-$38.51M	-37.38%	$322.34M	5.73	$101.92M	N/A
SEDG	SOLAREDGE TECHNOLOGIES INC	$59.66	$41.79	42.75%	97.80x	6.27x	1.13x	1.41x	0.54x	-$350.64M	-10.39%	$2.41B	42.65	$3.78B	39.12
BEEM	BEAM GLOBAL	$6.54	N/A	N/A	-5.03x	3.44x	1.20x	1.91x	N/A	-$14.24M	-17.65%	$49.54M	4.01	$85.24M	-6.01
NXT	NEXTRACKER INC	$43.68	N/A	N/A	N/A	N/A	1.19x	-1.91x	N/A	$348.39M	12.84%	-$3.12B	-50.19	$5.74B	15.13
FTCI	FTC SOLAR INC	$0.47	N/A	N/A	-1.06x	-2.33x	0.42x	0.94x	N/A	-$53.47M	-99.36%	$62.47M	0.54	$34.42M	-0.70
MAXN	MAXEON SOLAR TECHNOLOGIES LTD	$2.24	N/A	N/A	-0.62x	-2.17x	0.09x	0.70x	N/A	-$201.25M	-183.62%	$169.85M	3.47	$345.26M	-10.58
SPRU	SPRUCE POWER HOLDING CORP	$4.58	N/A	N/A	-1.28x	N/A	1.05x	0.39x	N/A	-$27.86M	-33.08%	$212.34M	11.55	$536.54M	-232.37
ISUN	ISUN INC	$0.14	N/A	N/A	N/A	0.23x	0.04x	0.49x	N/A	-$9.39M	-256.93%	$13.12M	0.49	$19.52M	-1.40
TYGO	TIGO ENERGY INC	$1.12	N/A	N/A	-14.00x	N/A	0.29x	1.06x	N/A	-$39.34M	-92.32%	$62.82M	1.65	$65.03M	6.94
SPI	SPI ENERGY CO LTD	$0.48	N/A	N/A	-0.53x	N/A	0.07x	1.22x	N/A	-$5.23M	-34.99%	$12.55M	0.41	$73.23M	-10.73
SPWR	SUNPOWER CORP	$2.18	N/A	N/A	-3.21x	3.41x	0.21x	0.90x	N/A	-$180.53M	-47.25%	$422.61M	2.41	$617.68M	-13.97
NOVA	SUNNOVA ENERGY INTERNATIONAL INC	$4.42	N/A	N/A	-1.30x	-4.06x	0.75x	0.34x	N/A	-$2.08B	-382.19%	$1.60B	13.05	$8.08B	67.68
RUN	SUNRUN INC	$10.95	N/A	N/A	-1.48x	-21.47x	1.05x	0.46x	N/A	-$3.43B	-144.54%	$5.23B	24.14	$12.47B	-28.84
PEGY	PINEAPPLE ENERGY INC	$0.05	N/A	N/A	-0.07x	N/A	0.01x	0.17x	N/A	-$1.32M	-244.44%	$20.44M	2.04	$17.84M	-81.42
TURB	TURBO ENERGY SA	$1.21	N/A	N/A	-5.63x	N/A	0.88x	2.36x	N/A	$166.47k	1.32%	$5.65M	0.55	$17.01M	-6.09
VVPR	VIVOPOWER INTERNATIONAL PLC	$3.71	N/A	N/A	-16.86x	N/A	0.78x	-2.37x	N/A	-$5.75M	-60.11%	-$4.04M	-1.57	$42.22M	-3.56
ASTI	ASCENT SOLAR TECHNOLOGIES INC	$0.10	N/A	N/A	-0.00x	N/A	0.22x	-0.25x	N/A	-$13.39M	-13,067.00%	-$1.53M	-1.49	$3.31M	-0.23

Solar Stocks FAQ

What are the best solar stocks to buy right now in May 2024?

According to Zen Score, the 3 best solar energy stocks to buy right now are:

1. First Solar (NASDAQ:FSLR)

First Solar (NASDAQ:FSLR) is the top solar stock with a Zen Score of 63, which is 31 points higher than the solar industry average of 32. It passed 21 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock return 2.33% over the past year, overperforming other solar stocks by 47 percentage points.

First Solar has an average 1 year price target of $239.82, an upside of 32.86% from First Solar's current stock price of $180.51.

First Solar stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 17 analysts covering First Solar, 82.35% have issued a Strong Buy rating, 17.65% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) is the second best solar stock with a Zen Score of 60, which is 28 points higher than the solar industry average of 32. It passed 19 out of 33 due diligence checks and has strong fundamentals. Canadian Solar has seen its stock lose -54.09% over the past year, underperforming other solar stocks by -9 percentage points.

Canadian Solar has an average 1 year price target of $27.01, an upside of 63.13% from Canadian Solar's current stock price of $16.56.

Canadian Solar stock has a consensus Hold recommendation according to Wall Street analysts. Of the 7 analysts covering Canadian Solar, 14.29% have issued a Strong Buy rating, 14.29% have issued a Buy, 42.86% have issued a hold, while 0% have issued a Sell rating, and 28.57% have issued a Strong Sell.

3. Jinkosolar Holding Co (NYSE:JKS)

Jinkosolar Holding Co (NYSE:JKS) is the third best solar stock with a Zen Score of 59, which is 27 points higher than the solar industry average of 32. It passed 22 out of 38 due diligence checks and has strong fundamentals. Jinkosolar Holding Co has seen its stock lose -45.68% over the past year, underperforming other solar stocks by -1 percentage points.

Jinkosolar Holding Co has an average 1 year price target of $24.12, a downside of -5.51% from Jinkosolar Holding Co's current stock price of $25.53.

Jinkosolar Holding Co stock has a consensus Sell recommendation according to Wall Street analysts. Of the 6 analysts covering Jinkosolar Holding Co, 0% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 33.33% have issued a Strong Sell.

What are the solar stocks with highest dividends?

Out of 1 solar stocks that have issued dividends in the past year, the 1 solar stocks with the highest dividend yields are:

1. Jinkosolar Holding Co (NYSE:JKS)

Jinkosolar Holding Co (NYSE:JKS) has an annual dividend yield of 5.88%, which is the same as the solar industry average of 5.88%.

Jinkosolar Holding Co's dividend payout ratio of 16.3% indicates that its high dividend yield is sustainable for the long-term.

Why are solar stocks up?

Solar stocks were up 2.07% in the last day, and up 3.53% over the last week. Sunnova Energy International was the among the top gainers in the solar industry, gaining 25.21% yesterday.

Sunnova Energy International shares are trading higher after the company reported better-than-expected Q1 adjusted EPS results.

What are the most undervalued solar stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued solar stocks right now are:

1. Array Technologies (NASDAQ:ARRY)

Array Technologies (NASDAQ:ARRY) is the most undervalued solar stock based on WallStreetZen's Valuation Score. Array Technologies has a valuation score of 86, which is 62 points higher than the solar industry average of 24. It passed 6 out of 7 valuation due diligence checks.

Array Technologies's stock has dropped -28.94% in the past year. It has overperformed other stocks in the solar industry by 16 percentage points.

2. Jinkosolar Holding Co (NYSE:JKS)

Jinkosolar Holding Co (NYSE:JKS) is the second most undervalued solar stock based on WallStreetZen's Valuation Score. Jinkosolar Holding Co has a valuation score of 71, which is 47 points higher than the solar industry average of 24. It passed 5 out of 7 valuation due diligence checks.

Jinkosolar Holding Co's stock has dropped -45.68% in the past year. It has underperformed other stocks in the solar industry by -1 percentage points.

3. Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. Canadian Solar has a valuation score of 71, which is 47 points higher than the solar industry average of 24. It passed 5 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -54.09% in the past year. It has underperformed other stocks in the solar industry by -9 percentage points.

Are solar stocks a good buy now?

37.5% of solar stocks rated by analysts are a strong buy right now. On average, analysts expect solar stocks to rise by 38.7% over the next year.

What is the average p/e ratio of the solar industry?

The average P/E ratio of the solar industry is 29.31x.

WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.