5 Alternative Energy Stocks to Buy Amid Energy Crisis in Europe

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

Number of Hedge Fund Holders: 26

First Solar, Inc. (NASDAQ:FSLR) is a leading developer and supplier of solar photovoltaic (PV) energy solutions. The company operates in the United States, Japan, France, Canada, India, Australia, and other international markets. As of June 30, D E Shaw owns roughly 1 million shares of First Solar, Inc. (NASDAQ:FSLR) and is the most prominent shareholder in the company.

On July 28, First Solar, Inc. (NASDAQ:FSLR) announced earnings for the second quarter of fiscal 2022. The company generated a revenue of $621 million and outperformed Wall Street expectations by $14.5 million. First Solar, Inc. (NASDAQ:FSLR) is on the rise. As of September 5, the stock has returned 42.71% to investors year to date.

Wall Street is bullish on First Solar, Inc. (NASDAQ:FSLR). On August 31, Baird analyst Ben Kallo raised his price target on First Solar, Inc. (NASDAQ:FSLR) to $164 from $119 and reiterated a buy-side Outperform rating on the shares. This August, BofA analyst Julien Dumoulin-Smith raised his price target on First Solar, Inc. (NASDAQ:FSLR) to $152 from $141 and maintained a Buy rating on the shares.

At the close of the second quarter of 2022, 26 hedge funds held stakes in First Solar, Inc. (NASDAQ:FSLR). The total value of these stakes amounted to $189.14 million.