5 Best Solar Energy Stocks to Buy for 2022

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1. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 52

Enphase Energy, Inc. (NASDAQ:ENPH) ranks first on our list of the best solar energy stocks to buy for 2022, with Wells Fargo analyst Michael Blum on November 22 initiating coverage of Enphase Energy, Inc. (NASDAQ:ENPH) with an Overweight rating and a $313 price target.

The analyst stated that Enphase Energy, Inc. (NASDAQ:ENPH) “stands to benefit from a number of long-term tailwinds” in the solar market, like the continued expansion of the residential and commercial solar demand, higher battery attach rates over time, and the decentralization of energy production. 

Enphase Energy, Inc. (NASDAQ:ENPH) is a California-based clean energy technology company offering solar solutions and home energy storage. 

On October 26, Enphase Energy, Inc. (NASDAQ:ENPH) posted its Q3 earnings. EPS in the quarter totaled $0.60, beating estimates by $0.11. The revenue came in at $351.52 million, up 96.93% year-over-year, outperforming estimates by $7.60 million. 

Bruce Emery’s Greenvale Capital is one of the biggest Enphase Energy, Inc. (NASDAQ:ENPH) stakeholders from Q3, holding an $85.4 million stake in the company. Overall, 52 hedge funds in the third quarter were long  Enphase Energy, Inc. (NASDAQ:ENPH), up from 44 funds in the preceding quarter. 

Here is what ClearBridge Investments has to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q2 2021 investor letter:

“Also in the solar space, we initiated a position in Enphase Energy (classified in the IT sector), which designs and manufactures microinverters for residential and small commercial solar photovoltaic (PV) systems. Enphase was the first company to commercialize microinverters for residential and small commercial solar PV systems. A microinverter, a type of MLPE, is a small inverter placed directly on the back of each solar module, as opposed to the traditional system of one string inverter on the side of the building.”

You can also take a look at 10 Best Fintech Stocks To Buy Now and 10 Cheap Stocks to Buy Before Christmas.

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