10 Best Alternative Fuel Stocks To Buy According to Hedge Funds

7. Array Technologies, Inc. (NASDAQ:ARRY)

Number of Hedge Fund Holders: 36

Array Technologies, Inc. (NASDAQ:ARRY) is a leading manufacturer of ground-mount solar tracking systems, which enhance the efficiency of solar power generation. The company’s solar tracking systems primarily cater to utility-scale solar projects. Array Technologies, Inc. (NASDAQ:ARRY) works closely with major developers and utilities to help optimize energy production.

Array Technologies, Inc. (NASDAQ:ARRY) is leveraging its strong domestic manufacturing capabilities to capitalize on favorable legislative support and emerging market opportunities. The company’s new Albuquerque manufacturing facility is a strategic investment that aligns with the Inflation Reduction Act (IRA) and the 45X tax credits and incentivizes domestic production and onshoring of critical components. By increasing its domestic production, Array Technologies, Inc. (NASDAQ:ARRY) aims to reduce supply chain risks and enhance its ability to deliver projects on time.

Array Technologies, Inc. (NASDAQ:ARRY) is also expanding its international presence and diversifying its revenue streams. The company is also making targeted investments in Europe, where it is confident that its customer activities will support share growth in the coming quarters.