Four Solar Stocks to Buy Now

In First Solar, Inc. (NASDAQ:FSLR), there were 27 funds holding shares at the end of 2017, unchanged over the quarter, but higher than 21 funds with long positions a year earlier. First Solar, Inc. (NASDAQ:FSLR) is one of the companies that stand to benefit the most from the tariffs, because it manufactures some of its panels in the US and its thin-film panels may be exempt from the import tariffs. The company has already announced plans to restart some production at its Ohio factory that it had shut down last year on the back of strong demand. The production was halted because First Solar, Inc. (NASDAQ:FSLR) was preparing to launch its next-gen Series 6 panels, but it is seeing such a strong demand for the existing Series 4 panels that it will restart two of the lines. In addition, First Solar, Inc. (NASDAQ:FSLR) said last month it will build a 200-Megawatt solar power plant in Georgia, which will be the largest standalone PV facility in the southeast US. The construction is expected to begin in November and completed in late 2019.

The number of investors from our database that hold shares of Solaredge Technologies Inc (NASDAQ:SEDG) inched down by one during the last three months of 2017, but appreciated by 10 to 27 over the year. Solaredge Technologies Inc (NASDAQ:SEDG)’s stock has surged by over 260% in the last 12 months amid optimism regarding the company’s prospects and better-than-expected earnings reported for the last three quarters. For the fourth quarter, the company posted EPS of $0.85, which easily beat the consensus estimate of $0.65, while its revenue soared by almost 70% on the year to $189.30 million and topped the expectations by $8.60 million. Solaredge Technologies Inc (NASDAQ:SEDG) also said it is seeing a healthy growth rate in sales and the management is focused on the earnings as it expanded margins and continues to cut costs. For the current quarter, Solaredge Technologies Inc (NASDAQ:SEDG) expects revenue between $200 million and $210 million, significantly above the consensus estimate of $157 million.

TerraForm Power Inc (NASDAQ:TERP) saw 16 funds tracked by Insider Monkey long its stock heading into 2018, unchanged over the year, but higher than 12 funds at the end of September. As a former yieldco of the now bankrupt Sun Edison, TerraForm Power Inc (NASDAQ:TERP) went through a transitional period as it became majority owned by Brookfield Asset Management Inc (NYSE:BAM) flagship renewable power company, Brookfield Renewable Partners LP (NYSE:BEP). In addition to buying a 51% stake in TerraForm Power Inc (NASDAQ:TERP), Brookfield Renewable also acquired 100% of Sun Edison’s other yieldco TerraForm Global last year. Under Brookfield, TerraForm Power Inc (NASDAQ:TERP) has reinstated its dividend and as it expects to grow its dividend in the long run, it has to acquire more renewable projects, having obtained a $500 million subordinated acquisition facility. Last month, TerraForm Power Inc (NASDAQ:TERP) said it had launched a $1.2 billion bid for Spanish renewable energy company Saeta Yield. The deal will be financed by a $400 million equity offering backed by Brookfield and with available liquidity. The company also raised its annual dividend target to $0.76 per share from $0.72, citing the accretion of the transaction.

Last but not least, in Canadian Solar Inc. (NASDAQ:CSIQ), there were 13 funds with long positions at the end of the year, down by one fund over the quarter, but slightly higher than 12 funds at the end of 2016. Earlier this month, Canadian Solar Inc. (NASDAQ:CSIQ)’s stock jumped by over 6%, which offset most of the decline since the beginning of the year. The stock appreciated on the back of a strong fourth-quarter report, which included EPS of $1.01 and revenue of $1.11 billion, versus expectations of $0.96 and $1.13 billion, respectively. Even though, the company’s revenue was slightly lower than the consensus estimate, it grew by 66% on the year as solar module shipments stood at 1.83 Gigawatts, higher than the company’s guidance of 1.72 GW to 1.82 GW, while gross margin of 19.7% went up from 17.5% in the third quarter and was above the guidance of 16.5%-18.5%. For the full year, Canadian Solar Inc. (NASDAQ:CSIQ) forecasts revenue between $4.40 billion and $4.60 billion and module shipments in the range of 6.6 GW to 7.1 GW.

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