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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
Ticker
Company
Forecast Score
Market Cap
Price
Price Target
Upside/Downside
Top Analysts Upside/Downside
Consensus
Top Analysts Consensus
Analysts
Top Analysts
Fore. Revenue Growth
Fore. Earnings Growth
Forecast ROE
Forecast ROA
FSLR
FIRST SOLAR INC
$16.44B$153.89$224.0645.60%Strong Buy1626.63%33.11%N/AN/A
ARRY
ARRAY TECHNOLOGIES INC
$2.06B$13.64$20.5450.57%Buy1318.18%63.47%N/AN/A
ENPH
ENPHASE ENERGY INC
$17.24B$127.01$138.529.06%Buy236.40%24.47%N/AN/A
SHLS
SHOALS TECHNOLOGIES GROUP INC
$2.19B$12.83$21.1564.88%Strong Buy1326.26%55.36%N/AN/A
JKS
JINKOSOLAR HOLDING CO LTD
$1.39B$27.04$24.19-10.56%Sell416.37%-0.02%N/AN/A
CSIQ
CANADIAN SOLAR INC
$1.39B$21.09$32.6054.58%Hold515.30%12.09%N/AN/A
SOL
EMEREN GROUP LTD
$125.52M$2.23$5.80160.09%Strong Buy451.09%N/AN/AN/A
SEDG
SOLAREDGE TECHNOLOGIES INC
$3.84B$67.17$99.9448.78%Hold24-9.44%333.44%N/AN/A
BEEM
BEAM GLOBAL
$99.62M$7.00N/AN/AN/AN/A38.15%N/AN/AN/A
NXT
NEXTRACKER INC
$7.68B$56.24$60.367.32%Strong Buy1413.31%N/AN/AN/A
MAXN
MAXEON SOLAR TECHNOLOGIES LTD
$211.65M$4.01$8.13102.62%Hold8-17.49%N/AN/AN/A
SPWR
SUNPOWER CORP
$545.37M$3.11$4.4643.34%Sell18-0.13%N/AN/AN/A
SPI
SPI ENERGY CO LTD
$20.23M$0.64N/AN/AN/AN/AN/AN/AN/AN/A
RUN
SUNRUN INC
$2.64B$12.04$21.6779.96%Strong Buy1811.86%N/AN/AN/A
ISUN
ISUN INC
$6.80M$0.18N/AN/AN/AN/A17.55%N/AN/AN/A
SPRU
SPRUCE POWER HOLDING CORP
$69.99M$3.84N/AN/AN/AN/AN/AN/AN/AN/A
FTCI
FTC SOLAR INC
$64.00M$0.51$1.75241.80%Buy451.43%N/AN/AN/A
NOVA
SUNNOVA ENERGY INTERNATIONAL INC
$891.69M$7.28$20.38179.88%Strong Buy2031.63%N/AN/AN/A
PEGY
PINEAPPLE ENERGY INC
$693.72k$0.07$2.503,576.47%Buy1N/AN/AN/AN/A
TYGO
TIGO ENERGY INC
$79.29M$1.35$3.60166.67%Buy2N/AN/AN/AN/A
TURB
TURBO ENERGY SA
$13.22M$1.20N/AN/AN/AN/AN/AN/AN/AN/A
VVPR
VIVOPOWER INTERNATIONAL PLC
$3.45M$1.34N/AN/AN/AN/AN/AN/A-261.60%-15.96%
ASTI
ASCENT SOLAR TECHNOLOGIES INC
$1.59M$0.42N/AN/AN/AN/AN/AN/AN/AN/A

Solar Stocks FAQ

What are the best solar stocks to buy right now in Mar 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 67, which is 38 points higher than the solar industry average of 29. It passed 22 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock lose -9.02% over the past year, overperforming other solar stocks by 43 percentage points.

First Solar has an average 1 year price target of $224.06, an upside of 45.6% from First Solar's current stock price of $153.89.

First Solar stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 16 analysts covering First Solar, 62.5% have issued a Strong Buy rating, 25% have issued a Buy, 12.5% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Array Technologies (NASDAQ:ARRY)


Array Technologies (NASDAQ:ARRY) is the second best solar stock with a Zen Score of 63, which is 34 points higher than the solar industry average of 29. It passed 20 out of 33 due diligence checks and has strong fundamentals. Array Technologies has seen its stock lose -27.21% over the past year, overperforming other solar stocks by 25 percentage points.

Array Technologies has an average 1 year price target of $20.54, an upside of 50.57% from Array Technologies's current stock price of $13.64.

Array Technologies stock has a consensus Buy recommendation according to Wall Street analysts. Of the 13 analysts covering Array Technologies, 38.46% have issued a Strong Buy rating, 0% have issued a Buy, 53.85% have issued a hold, while 0% have issued a Sell rating, and 7.69% have issued a Strong Sell.

3. Enphase Energy (NASDAQ:ENPH)


Enphase Energy (NASDAQ:ENPH) is the third best solar stock with a Zen Score of 52, which is 23 points higher than the solar industry average of 29. It passed 17 out of 33 due diligence checks and has strong fundamentals. Enphase Energy has seen its stock lose -39.67% over the past year, overperforming other solar stocks by 12 percentage points.

Enphase Energy has an average 1 year price target of $138.52, an upside of 9.06% from Enphase Energy's current stock price of $127.01.

Enphase Energy stock has a consensus Buy recommendation according to Wall Street analysts. Of the 23 analysts covering Enphase Energy, 43.48% have issued a Strong Buy rating, 21.74% have issued a Buy, 30.43% have issued a hold, while 4.35% have issued a Sell rating, and 0% 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 5.55%, which is the same as the solar industry average of 5.55%.

Jinkosolar Holding Co's dividend payout ratio of 0% indicates that its high dividend yield might not be sustainable for the long-term.

Why are solar stocks up?

Solar stocks were up 2.06% in the last day, and up 1.19% over the last week. Sunnova Energy International was the among the top gainers in the solar industry, gaining 11.49% yesterday.

Sunnova Energy shares are trading higher following the purchase of 152,450 shares by a company director.

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 61 points higher than the solar industry average of 25. It passed 6 out of 7 valuation due diligence checks.

Array Technologies's stock has dropped -27.21% in the past year. It has overperformed other stocks in the solar industry by 25 percentage points.

2. Canadian Solar (NASDAQ:CSIQ)


Canadian Solar (NASDAQ:CSIQ) is the second most undervalued solar stock based on WallStreetZen's Valuation Score. Canadian Solar has a valuation score of 71, which is 46 points higher than the solar industry average of 25. It passed 5 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -46.94% in the past year. It has overperformed other stocks in the solar industry by 5 percentage points.

3. First Solar (NASDAQ:FSLR)


First Solar (NASDAQ:FSLR) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. First Solar has a valuation score of 57, which is 32 points higher than the solar industry average of 25. It passed 4 out of 7 valuation due diligence checks.

First Solar's stock has dropped -9.02% in the past year. It has overperformed other stocks in the solar industry by 43 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 35.35% 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 27.95x.
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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.