5 Best Green Energy Stocks To Buy

2. Canadian Solar Inc. (NASDAQ:CSIQ)

Number of Hedge Fund Holders: 15

Stock Price Change Over the Past Six Months as of November 17: +36%

Canadian Solar Inc. (NASDAQ:CSIQ) is a Canadian manufacturer of solar PV modules and operates large-scale solar projects.

The company intends to achieve 35% growth in sales during 2022. Canadian Solar Inc. (NASDAQ:CSIQ) has a healthy balance sheet with $870 million in cash, total assets of $7.4 billion, and $5.2 billion in liabilities. The global solar installations are expected to grow at a compound annual growth rate (CAGR) of 14% from 2022 to 2026. Canadian Solar Inc. (NASDAQ:CSIQ) also has a solid battery storage business that can grow and contribute significantly to the top line. Moreover, Canadian Solar Inc. (NASDAQ:CSIQ) is in the process of having an IPO on the Shanghai Stock Exchange (SSE) to unlock the potential of the Chinese market.

As of Q1 2022, Canadian Solar Inc. (NASDAQ:CSIQ) was held by 15 hedge funds.