7 Most Undervalued Solar Stocks to Buy According to Analysts

1. Array Technologies (NASDAQ:ARRY)  

Upside Potential as of October 4: 67.22%  

Number of Hedge Fund Investors: 30  

Forward P/E Ratio as of October 4: 9.60  

Array Technologies (NASDAQ:ARRY) is a leading manufacturer and supplier of single-axis trackers for solar panels, enabling them to track the sun’s movement and optimize energy production and efficiency. By maximizing exposure to sunlight, these trackers play a crucial role in enhancing the performance of solar panels.

In Q1, Array Technologies (NASDAQ:ARRY) introduced the innovative Hail Alert Response system, designed to enhance the resilience and durability of solar trackers. This cutting-edge system leverages advanced weather prediction algorithms to automatically stow solar trackers approximately 30 minutes before a predicted hail event, minimizing potential damage and downtime. The Hail Alert Response system is compatible with the company’s existing product portfolio and requires a SmarTrack Controller to function to provide a proactive approach to protecting solar assets from severe weather conditions.

Array Technologies (NASDAQ:ARRY) has strengthened its presence in the Middle Eastern market through a strategic partnership with Alpuco in Saudi Arabia. This collaboration enables the company to capitalize on domestic incentives and source materials locally. Saudi Arabia has set an ambitious target of 130 GW of renewable energy by 2030, making this partnership a potential driver of Array Technologies (NASDAQ:ARRY) market expansion and order book growth.

Array Technologies (NASDAQ:ARRY) trades at an attractive multiple of 9.60 times its earnings, representing a 52.21% discount to the sector median of 20.09.

While we acknowledge the potential of Array Technologies (NASDAQ:ARRY) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than ARRY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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