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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
Overview
Zen ScorePriceValuationFinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Exchange
Industry
Zen Score
Market Cap
Price
1d %
EBITDA
P/E
D/E
FSLR
FIRST SOLAR INC
NASDAQ
Solar
$20.45B$191.05-1.32%$1.46B19.92x0.56
ARRY
ARRAY TECHNOLOGIES INC
NASDAQ
Solar
$1.94B$12.762.00%$221.45M31.12x4.47
JKS
JINKOSOLAR HOLDING CO LTD
NYSE
Solar
$1.24B$23.73-9.12%$1.94B2.58x5.08
SHLS
SHOALS TECHNOLOGIES GROUP INC
NASDAQ
Solar
$1.18B$6.94-9.58%$63.57M38.56x0.49
ENPH
ENPHASE ENERGY INC
NASDAQ
Solar
$14.74B$108.35-2.50%$409.80M53.37x2.50
CSIQ
CANADIAN SOLAR INC
NASDAQ
Solar
$1.04B$15.70-9.14%N/A5.03x3.43
SOL
EMEREN GROUP LTD
NYSE
Solar
$102.44M$1.82-2.67%N/AN/A0.29
BEEM
BEAM GLOBAL
NASDAQ
Solar
$89.66M$6.21-0.64%-$14.17M-4.78x0.57
NXT
NEXTRACKER INC
NASDAQ
Solar
$5.77B$42.25-2.20%$379.50MN/A-0.43
SPRU
SPRUCE POWER HOLDING CORP
NYSE
Solar
$72.46M$3.96-2.94%-$2.31M-1.11x3.20
MAXN
MAXEON SOLAR TECHNOLOGIES LTD
NASDAQ
Solar
$114.53M$2.17-6.87%-$32.64M-0.60x6.63
ISUN
ISUN INC
NASDAQ
Solar
$7.11M$0.15-16.20%-$13.97MN/A4.08
TYGO
TIGO ENERGY INC
NASDAQ
Solar
$64.46M$1.08-1.82%$9.37M-13.50x1.03
SPI
SPI ENERGY CO LTD
NASDAQ
Solar
$16.34M$0.520.19%-$6.82M-0.56x17.06
FTCI
FTC SOLAR INC
NASDAQ
Solar
$58.71M$0.47-15.27%-$46.00M-1.19x1.09
SEDG
SOLAREDGE TECHNOLOGIES INC
NASDAQ
Solar
$2.83B$49.47-6.08%-$219.77M-10.78x0.86
SPWR
SUNPOWER CORP
NASDAQ
Solar
$403.33M$2.30-2.95%-$44.23M-3.38x2.42
NOVA
SUNNOVA ENERGY INTERNATIONAL INC
NYSE
Solar
$499.65M$4.03-6.93%$119.44M-1.19x5.92
RUN
SUNRUN INC
NASDAQ
Solar
$2.50B$11.26-9.27%-$145.67M-1.69x2.72
TURB
TURBO ENERGY SA
NASDAQ
Solar
$13.33M$1.212.54%-$2.79M-5.63x1.90
PEGY
PINEAPPLE ENERGY INC
NASDAQ
Solar
$5.85M$0.06-16.44%$3.27M-0.07x-5.89
ASTI
ASCENT SOLAR TECHNOLOGIES INC
NASDAQ
Solar
$2.92M$0.10-8.65%-$11.60M-0.00x-2.95
VVPR
VIVOPOWER INTERNATIONAL PLC
NASDAQ
Solar
$9.08M$3.52-1.68%-$11.87M-16.00x-16.20
1

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 33 points higher than the solar industry average of 30. It passed 21 out of 33 due diligence checks and has strong fundamentals. First Solar has seen its stock return 5.7% over the past year, overperforming other solar stocks by 55 percentage points.

First Solar has an average 1 year price target of $239.82, an upside of 25.53% from First Solar's current stock price of $191.05.

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. Array Technologies (NASDAQ:ARRY)


Array Technologies (NASDAQ:ARRY) is the second best solar stock with a Zen Score of 60, which is 30 points higher than the solar industry average of 30. It passed 20 out of 33 due diligence checks and has strong fundamentals. Array Technologies has seen its stock lose -31.58% over the past year, overperforming other solar stocks by 17 percentage points.

Array Technologies has an average 1 year price target of $19.80, an upside of 55.17% from Array Technologies's current stock price of $12.76.

Array Technologies stock has a consensus Buy recommendation according to Wall Street analysts. Of the 15 analysts covering Array Technologies, 46.67% have issued a Strong Buy rating, 13.33% have issued a Buy, 40% have issued a hold, while 0% have issued a Sell rating, and 0% 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 29 points higher than the solar industry average of 30. It passed 22 out of 38 due diligence checks and has strong fundamentals. Jinkosolar Holding Co has seen its stock lose -45.93% over the past year, overperforming other solar stocks by 3 percentage points.

Jinkosolar Holding Co has an average 1 year price target of $24.12, an upside of 1.66% from Jinkosolar Holding Co's current stock price of $23.73.

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 6.32%, which is the same as the solar industry average of 6.32%.

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 -3.17% in the last day, and down -5.79% over the last week. Pineapple Energy was the among the top losers in the solar industry, dropping -16.44% yesterday.

Pineapple Energy shares are trading lower after the company reported worse-than-expected Q1 financial results.

What are the most undervalued solar stocks?

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

1. Jinkosolar Holding Co (NYSE:JKS)


Jinkosolar Holding Co (NYSE:JKS) is the most undervalued solar stock based on WallStreetZen's Valuation Score. Jinkosolar Holding Co has a valuation score of 71, which is 49 points higher than the solar industry average of 22. It passed 5 out of 7 valuation due diligence checks.

Jinkosolar Holding Co's stock has dropped -45.93% in the past year. It has overperformed other stocks in the solar industry by 3 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 49 points higher than the solar industry average of 22. It passed 5 out of 7 valuation due diligence checks.

Canadian Solar's stock has dropped -57.07% in the past year. It has underperformed other stocks in the solar industry by -8 percentage points.

3. Array Technologies (NASDAQ:ARRY)


Array Technologies (NASDAQ:ARRY) is the third most undervalued solar stock based on WallStreetZen's Valuation Score. Array Technologies has a valuation score of 57, which is 35 points higher than the solar industry average of 22. It passed 4 out of 7 valuation due diligence checks.

Array Technologies's stock has dropped -31.58% in the past year. It has overperformed other stocks in the solar industry by 17 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 36.55% 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 23.9x.
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