5 Cheap Solar Stocks to Buy

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

Number of Hedge Fund Holders: 45

First Solar, Inc. (NASDAQ:FSLR) manufactures solar panels and provides solar farms. It is headquartered in Arizona. Furthermore, the company also provides maintenance and end-of-life- recycling services. As of December 19, the First Solar, Inc. (NASDAQ:FSLR) stock is trading at 49.61% below its all-time high.

First Solar, Inc. (NASDAQ:FSLR) is already up 76.98% year-to-date at the time of writing, yet Wall Street analysts remain bullish on the stock. Out of 18 analysts that have covered the stock, 12 analysts maintain a Buy or Overweight rating on First Solar, Inc. (NASDAQ:FSLR), while the rest of the 6 have a Hold rating. Their average price target of $174.80, represents approximately a 12% upside to the stock price of $156.77 on December 19.

First Solar, Inc. (NASDAQ:FSLR) became quite a famous stock among hedge funds in the third quarter of 2022. 45 hedge funds were bullish on the company in the September quarter and owned a combined stake of $703.697 million, compared to 26 hedge funds with a combined value of $189.14 million in Q2.