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Best Solar Stocks to Buy Now (2023)
Top solar stocks in 2023 ranked by overall Zen Score. See the best solar stocks to buy now, according to analyst forecasts for the solar industry.

Industry: Solar

Overview Zen Score Price Valuation Financials Forecast

Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Market Cap	Price	Price Target	Upside/Downside	Consensus	Analysts	Fore. Revenue Growth	Fore. Earnings Growth	Forecast ROE	Forecast ROA
ENPH	ENPHASE ENERGY INC	$30.30B	$222.93	$294.58	32.14%	Buy	21	27.18%	40.81%	N/A	N/A
CSIQ	CANADIAN SOLAR INC	$2.62B	$40.63	$34.04	-16.21%	Hold	5	34.44%	88.74%	22.11%	4.56%
SEDG	SOLAREDGE TECHNOLOGIES INC	$17.66B	$316.00	$350.65	10.96%	Strong Buy	18	32.11%	115.01%	31.21%	16.41%
FSLR	FIRST SOLAR INC	$17.93B	$168.19	$158.80	-5.58%	Buy	22	22.81%	139.42%	N/A	N/A
SHLS	SHOALS TECHNOLOGIES GROUP INC	$4.34B	$25.96	$30.10	15.95%	Buy	11	53.74%	182.84%	563.92%	28.10%
SPWR	SUNPOWER CORP	$3.05B	$17.51	$19.43	10.95%	Hold	16	22.65%	28.10%	N/A	N/A
JKS	JINKOSOLAR HOLDING CO LTD	$2.74B	$54.66	$49.58	-9.30%	Hold	5	18.23%	252.79%	84.86%	11.86%
ARRY	ARRAY TECHNOLOGIES INC	$2.98B	$19.78	$22.62	14.33%	Buy	13	26.85%	N/A	294.57%	10.83%
SOL	RENESOLA LTD	$346.17M	$5.17	$9.67	86.98%	Strong Buy	3	118.00%	N/A	N/A	N/A
BEEM	BEAM GLOBAL	$174.86M	$17.32	$31.50	81.87%	Strong Buy	3	80.10%	N/A	N/A	N/A
ISUN	ISUN INC	$30.30M	$1.99	$7.00	251.76%	Strong Buy	1	102.54%	N/A	0.72%	0.47%
MAXN	MAXEON SOLAR TECHNOLOGIES LTD	$953.94M	$21.20	$23.00	8.49%	Buy	4	68.08%	N/A	-37.13%	-3.69%
RUN	SUNRUN INC	$5.75B	$26.96	$40.43	49.96%	Buy	15	10.80%	N/A	-1.84%	-0.65%
NOVA	SUNNOVA ENERGY INTERNATIONAL INC	$2.22B	$19.35	$33.06	70.87%	Strong Buy	17	39.85%	N/A	-11.25%	-1.83%
SUNW	SUNWORKS INC	$77.41M	$2.20	$4.75	115.91%	Strong Buy	2	N/A	N/A	-13.94%	-8.12%
FTCI	FTC SOLAR INC	$290.23M	$2.81	$5.30	88.61%	Buy	5	158.19%	N/A	-25.34%	-13.91%
VVPR	VIVOPOWER INTERNATIONAL PLC	$17.01M	$0.80	N/A	N/A	Strong Buy	1	167.93%	N/A	-36.88%	-11.63%
SPI	SPI ENERGY CO LTD	$4.99M	$1.73	$7.00	304.62%	Strong Buy	1	N/A	N/A	N/A	N/A

Solar Stocks FAQ

What are the best solar stocks to buy right now in Feb 2023?

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

1. Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH) is the top solar stock with a Zen Score of 65, which is 32 points higher than the solar industry average of 33. It passed 22 out of 33 due diligence checks and has strong fundamentals. Enphase Energy has seen its stock return 67.73% over the past year, overperforming other solar stocks by 13 percentage points.

Enphase Energy has an average 1 year price target of $294.58, an upside of 32.14% from Enphase Energy's current stock price of $222.93.

Enphase Energy stock has a consensus Buy recommendation according to Wall Street analysts. Of the 21 analysts covering Enphase Energy, 38.1% have issued a Strong Buy rating, 33.33% have issued a Buy, 28.57% 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 61, which is 28 points higher than the solar industry average of 33. It passed 19 out of 33 due diligence checks and has strong fundamentals. Canadian Solar has seen its stock return 57.66% over the past year, overperforming other solar stocks by 3 percentage points.

Canadian Solar has an average 1 year price target of $34.04, a downside of -16.21% from Canadian Solar's current stock price of $40.63.

Canadian Solar stock has a consensus Hold recommendation according to Wall Street analysts. Of the 5 analysts covering Canadian Solar, 20% have issued a Strong Buy rating, 0% have issued a Buy, 40% have issued a hold, while 0% have issued a Sell rating, and 40% have issued a Strong Sell.

3. Solaredge Technologies (NASDAQ:SEDG)

Solaredge Technologies (NASDAQ:SEDG) is the third best solar stock with a Zen Score of 45, which is 12 points higher than the solar industry average of 33. It passed 15 out of 33 due diligence checks and has strong fundamentals. Solaredge Technologies has seen its stock return 36.68% over the past year, underperforming other solar stocks by -18 percentage points.

Solaredge Technologies has an average 1 year price target of $350.65, an upside of 10.96% from Solaredge Technologies's current stock price of $316.00.

Solaredge Technologies stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 18 analysts covering Solaredge Technologies, 50% have issued a Strong Buy rating, 22.22% have issued a Buy, 27.78% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Are solar stocks a good buy now?

44.44% of solar stocks rated by analysts are a strong buy right now. On average, analysts expect solar stocks to rise by 16.29% 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 119.26x.

What are the most undervalued solar stocks?

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

1. Canadian Solar (NASDAQ:CSIQ)

Canadian Solar (NASDAQ:CSIQ) is the most undervalued solar stock based on WallStreetZen's Valuation Score. Canadian Solar has a valuation score of 100, which is 72 points higher than the solar industry average of 28. It passed 7 out of 7 valuation due diligence checks.

Canadian Solar's stock has gained 57.66% in the past year. It has overperformed other stocks in the solar industry by 3 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 43, which is 15 points higher than the solar industry average of 28. It passed 3 out of 7 valuation due diligence checks.

Jinkosolar Holding Co's stock has gained 36.58% in the past year. It has underperformed other stocks in the solar industry by -18 percentage points.

3. Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. Sunrun has a valuation score of 43, which is 15 points higher than the solar industry average of 28. It passed 3 out of 7 valuation due diligence checks.

Sunrun's stock has gained 17.01% in the past year. It has underperformed other stocks in the solar industry by -38 percentage points.

Why are solar stocks down?

Solar stocks were down -2.6% in the last day, and up 0.51% over the last week.

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

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.