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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
$18.04B$168.80$222.8632.02%Strong Buy1426.18%33.11%N/AN/A
CSIQ
CANADIAN SOLAR INC
$1.30B$19.76$27.0136.71%Hold715.80%46.06%N/AN/A
JKS
JINKOSOLAR HOLDING CO LTD
$1.32B$25.19$24.62-2.25%Sell615.12%5.96%N/AN/A
ARRY
ARRAY TECHNOLOGIES INC
$2.26B$14.91$20.3936.72%Buy136.54%63.47%N/AN/A
ENPH
ENPHASE ENERGY INC
$16.42B$120.98$137.2913.48%Buy215.99%24.47%N/AN/A
SHLS
SHOALS TECHNOLOGIES GROUP INC
$1.90B$11.18$20.5383.66%Strong Buy1519.24%55.36%N/AN/A
SOL
EMEREN GROUP LTD
$108.63M$1.93$5.80200.52%Strong Buy451.09%N/AN/AN/A
SEDG
SOLAREDGE TECHNOLOGIES INC
$4.05B$70.98$99.7740.56%Hold24-9.57%333.44%N/AN/A
BEEM
BEAM GLOBAL
$96.77M$6.80N/AN/AN/AN/A37.94%N/AN/AN/A
FTCI
FTC SOLAR INC
$67.71M$0.54$1.29139.33%Buy542.39%N/AN/AN/A
MAXN
MAXEON SOLAR TECHNOLOGIES LTD
$175.76M$3.33$7.25117.72%Hold8-17.49%N/AN/AN/A
NXT
NEXTRACKER INC
$7.68B$56.27$61.799.80%Strong Buy1412.63%N/AN/AN/A
TYGO
TIGO ENERGY INC
$63.87M$1.07$3.60236.45%Buy23.42%N/AN/AN/A
SPWR
SUNPOWER CORP
$526.08M$3.00$3.9932.83%Sell17-0.49%N/AN/AN/A
SPI
SPI ENERGY CO LTD
$19.50M$0.62N/AN/AN/AN/AN/AN/AN/AN/A
ISUN
ISUN INC
$9.39M$0.25N/AN/AN/AN/A17.55%N/AN/AN/A
RUN
SUNRUN INC
$2.89B$13.18$20.5055.54%Strong Buy1811.15%N/AN/AN/A
SPRU
SPRUCE POWER HOLDING CORP
$72.36M$3.97N/AN/AN/AN/AN/AN/AN/AN/A
NOVA
SUNNOVA ENERGY INTERNATIONAL INC
$750.83M$6.13$19.48217.70%Strong Buy2029.85%N/AN/AN/A
PEGY
PINEAPPLE ENERGY INC
$693.72k$0.07$2.503,576.47%Buy1N/AN/AN/AN/A
TURB
TURBO ENERGY SA
$12.67M$1.15N/AN/AN/AN/AN/AN/AN/AN/A
VVPR
VIVOPOWER INTERNATIONAL PLC
$3.55M$1.38N/AN/AN/AN/AN/AN/AN/AN/A
ASTI
ASCENT SOLAR TECHNOLOGIES INC
$1.49M$0.39N/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 70, which is 39 points higher than the solar industry average of 31. It passed 23 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock lose -19.62% over the past year, overperforming other solar stocks by 30 percentage points.

First Solar has an average 1 year price target of $222.86, an upside of 32.02% from First Solar's current stock price of $168.80.

First Solar stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 14 analysts covering First Solar, 57.14% have issued a Strong Buy rating, 28.57% have issued a Buy, 14.29% 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 57, which is 26 points higher than the solar industry average of 31. It passed 18 out of 33 due diligence checks and has strong fundamentals. Canadian Solar has seen its stock lose -47.82% over the past year, overperforming other solar stocks by 2 percentage points.

Canadian Solar has an average 1 year price target of $27.01, an upside of 36.71% from Canadian Solar's current stock price of $19.76.

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 55, which is 24 points higher than the solar industry average of 31. It passed 21 out of 38 due diligence checks and has strong fundamentals. Jinkosolar Holding Co has seen its stock lose -48.2% over the past year, overperforming other solar stocks by 1 percentage points.

Jinkosolar Holding Co has an average 1 year price target of $24.62, a downside of -2.25% from Jinkosolar Holding Co's current stock price of $25.19.

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 5.95%, which is the same as the solar industry average of 5.95%.

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 0.43% in the last day, and up 5.41% over the last week.

We couldn't find a catalyst for why solar stocks are up.

What are the most undervalued solar stocks?

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

1. First Solar (NASDAQ:FSLR)


First Solar (NASDAQ:FSLR) is the most undervalued solar stock based on WallStreetZen's Valuation Score. First 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.

First Solar's stock has dropped -19.62% in the past year. It has overperformed other stocks in the solar industry by 30 percentage points.

2. Array Technologies (NASDAQ:ARRY)


Array Technologies (NASDAQ:ARRY) is the second most undervalued solar stock based on WallStreetZen's Valuation Score. Array Technologies 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.

Array Technologies's stock has dropped -24.01% in the past year. It has overperformed other stocks in the solar industry by 26 percentage points.

3. Jinkosolar Holding Co (NYSE:JKS)


Jinkosolar Holding Co (NYSE:JKS) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. Jinkosolar Holding Co 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.

Jinkosolar Holding Co's stock has dropped -48.2% in the past year. It has overperformed other stocks in the solar industry by 1 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 31.19% 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 28.16x.
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.