10 Best Solar Energy Stocks to Invest In

6. First Solar, Inc. (NASDAQ:FSLR)

Hedge Funds Holding Stakes: 51

Upside potential as of August 2, 2024: 29%

First Solar, Inc. (NASDAQ:FSLR) is one of the biggest players in the US solar market, specializing in offering solar energy solutions to large-scale developers and operators. The company manufactures and sells photovoltaic solar modules that provide lower-carbon alternatives.

First Solar, Inc. (NASDAQ:FSLR) is one of the 10 best solar energy stocks to invest in as its focus on bigger customers instead of residential customers allows it better weather volatility and storms in the solar energy sector. The company delivered solid Q2 2024 results, with revenues increasing by $0.2 billion to $1 billion as earnings improved to $3.25 from $2.20 a share a year ago.

According to the Insider Monkey database, the number of hedge funds holding stakes in First Solar, Inc. (NASDAQ:FSLR) increased to 51 in Q1 2024 from 47 in Q4 2023. Based on 25 Wall Street analysts, the stock boasts an average price target of 283.57, implying a 29% upside potential.