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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
Country
Market Cap
Shares
Institutional %
Insider %
Net Insider (L12M)
Net Insider (L3M)
FSLR
FIRST SOLAR INC
United States
$18.62B106,848,92975.74%24.26%Net SellingNet Selling
CSIQ
CANADIAN SOLAR INC
Canada
$959.49M66,035,33151.15%0.00%
ARRY
ARRAY TECHNOLOGIES INC
United States
$1.66B151,288,15999.01%0.99%Net SellingNet Selling
JKS
JINKOSOLAR HOLDING CO LTD
China
$1.13B209,582,7188.48%0.00%
ENPH
ENPHASE ENERGY INC
United States
$14.82B135,759,33954.93%45.07%Net BuyingNet Buying
SHLS
SHOALS TECHNOLOGIES GROUP INC
United States
$1.40B170,329,50971.06%28.94%Net SellingNet Selling
SOL
EMEREN GROUP LTD
China
$97.94M562,871,9304.72%67.28%Net Buying
SEDG
SOLAREDGE TECHNOLOGIES INC
Israel
$3.28B57,126,02361.94%38.06%Net BuyingNet Buying
BEEM
BEAM GLOBAL
United States
$92.40M14,438,27011.52%88.48%Net Buying
NXT
NEXTRACKER INC
United States
$6.08B136,542,42351.26%4.74%Net SellingNet Selling
FTCI
FTC SOLAR INC
United States
$47.86M125,613,64426.07%69.21%Net SellingNet Buying
SPWR
SUNPOWER CORP
United States
$396.32M175,361,08810.62%89.38%Net BuyingNet Buying
SPRU
SPRUCE POWER HOLDING CORP
United States
$63.86M18,297,59610.99%89.01%Net SellingNet Selling
MAXN
MAXEON SOLAR TECHNOLOGIES LTD
Singapore
$101.07M52,780,05249.00%0.00%
ISUN
ISUN INC
United States
$7.68M47,384,67211.78%20.62%Net Buying
TYGO
TIGO ENERGY INC
United States
$59.63M59,689,55315.04%84.96%Net BuyingNet Buying
RUN
SUNRUN INC
United States
$2.22B219,590,06257.02%42.98%Net SellingNet Buying
SPI
SPI ENERGY CO LTD
China
$15.64M31,603,1090.28%99.72%
NOVA
SUNNOVA ENERGY INTERNATIONAL INC
United States
$462.99M122,484,28673.43%26.57%Net BuyingNet Buying
PEGY
PINEAPPLE ENERGY INC
United States
$3.08M64,077,1191.06%9.30%Net SellingNet Selling
TURB
TURBO ENERGY SA
Spain
$13.06M55,085,7000.11%0.00%
ASTI
ASCENT SOLAR TECHNOLOGIES INC
United States
$398.35k3,793,8430.02%99.98%Net BuyingNet Buying
VVPR
VIVOPOWER INTERNATIONAL PLC
United States
$9.31M2,578,8260.02%15.78%Net BuyingNet Buying

Solar Stocks FAQ

What are the best solar stocks to buy right now in Apr 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 64, which is 32 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 lose -20.59% over the past year, overperforming other solar stocks by 37 percentage points.

First Solar has an average 1 year price target of $222.73, an upside of 27.79% from First Solar's current stock price of $174.29.

First Solar stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 15 analysts covering First Solar, 66.67% have issued a Strong Buy rating, 26.67% have issued a Buy, 6.67% 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 -64.5% over the past year, underperforming other solar stocks by -7 percentage points.

Canadian Solar has an average 1 year price target of $27.01, an upside of 85.92% from Canadian Solar's current stock price of $14.53.

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. Array Technologies (NASDAQ:ARRY)


Array Technologies (NASDAQ:ARRY) is the third best solar stock with a Zen Score of 58, which is 26 points higher than the solar industry average of 32. It passed 18 out of 33 due diligence checks and has strong fundamentals. Array Technologies has seen its stock lose -48.88% over the past year, overperforming other solar stocks by 9 percentage points.

Array Technologies has an average 1 year price target of $20.08, an upside of 83.02% from Array Technologies's current stock price of $10.97.

Array Technologies stock has a consensus Buy recommendation according to Wall Street analysts. Of the 13 analysts covering Array Technologies, 46.15% 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 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 6.93%, which is the same as the solar industry average of 6.93%.

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 down?

Solar stocks were down -2.27% in the last day, and down -10.05% over the last week. Sunrun was the among the top losers in the solar industry, dropping -6.78% yesterday.

Sunrun shares are trading lower, pulling back after gaining Wednesday on reports of Biden planning to remove tariff exemption for bifacial solar panel imports.

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 58 points higher than the solar industry average of 28. It passed 6 out of 7 valuation due diligence checks.

Array Technologies's stock has dropped -48.88% in the past year. It has overperformed other stocks in the solar industry by 9 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 43 points higher than the solar industry average of 28. It passed 5 out of 7 valuation due diligence checks.

Jinkosolar Holding Co's stock has dropped -56.44% in the past year. It has overperformed 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 43 points higher than the solar industry average of 28. It passed 5 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -64.5% in the past year. It has underperformed other stocks in the solar industry by -7 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 44.76% 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 25.36x.
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.