10 Cheapest Stocks to Buy On Robinhood

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

Market Cap: $20 billion

FWD PE Ratio: 14

Average Price Target Upside: 50.23%

First Solar, Inc. (NASDAQ:FSLR) is a solar technology company established in 1999. It provides photovoltaic (PV) solar energy solutions globally. The company specializes in manufacturing cadmium telluride thin-film solar modules, offering a lower-carbon alternative to traditional crystalline silicon PV modules. Its services include project development, operations and maintenance, and selling PV solar systems to third-party clients.

As of Q3, the company has a 73.3 GW backlog with orders extending to 2030. The company aims to reach 14 GW of U.S. production capacity and 25 GW globally by 2026, supported by its Alabama factory and a Louisiana facility expected to start in late 2025. Growing capacity, stable solar panel prices, and a favorable interest rate outlook position it to meet rising demand.

First Solar’s (NASDAQ:FSLR) stock has recently seen a sell-off after missing estimates and US election results. However, many analysts view this in a positive light. After Trump’s presidential win, Roth MKM says cutting the investment tax credit/production tax credit earlier could hurt solar demand as Republicans look for ways to fund tax cuts. However, the 45X tax credit seems safe, which is good news for First Solar (NASDAQ:FSLR) and others. GOP House Speaker Mike Johnson said they would make careful changes to the IRA. With solar stocks falling, Roth suggests this may be a good time to buy First Solar and Nextracker.