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Tag: First Solar Stock

  • Three Top Renewable Energy Stocks for Long-term Investment

    Three Top Renewable Energy Stocks for Long-term Investment

    For all good reasons, you should jump in renewable energy stocks to invest in the long run.

    The 2020 year has shown a clear path to the investors that the future demands changes—specifically the mother nature. Over the past few decades, the evolution of technology and industrialization has destroyed the global environment.

    Now, the companies are focusing on green and clean energy and to save the natural resources that are diminishing swiftly. In that premise, the world is turning to renewable energy. The speed at which Electric Vehicle is growing is an example of it.

    Analysts believe that 2021 is going to be the year for renewable energy stocks, as they will revive following a downward period last year due to the economic crisis. Let’s have a look at the three top renewable energy stocks to invest in the long-term.

    First Solar (FSLR)

    First Solar (FSLR) is a leading manufacturer of solar panels and a provider of utility-scale PV power plants based in the US. One factor that makes First Solar stand out in the panel manufacturing sector is its strong balance sheet.

    The company is about to release its Q4 2020 results on Feb. 25. Increasing demand for its Series 6 modules is expected to record high quarterly shipments, thus helping in revenue increase. The company has been recording capacity utilization of almost 100% for this product, especially around the global factories recently.

    In that premise, the company reported an earnings surprise of 141.67% in Q3 2020. Whereas, in the preceding four quarters, First Solar has delivered a whopping 102.06%earnings surprise—on average. First Solar (FSLR) is one of the best to bet in renewable energy stocks.

    American Electric Power (AEP)

    American Electric Power (AEP) is a major investor-owned electric utility in the United States. The company has a presence in 11 states and provides electricity to approximately 5.5 million customers, making it one of the largest regulated utilities in the country.

    The company is focused to make a difference to environmental, social, and corporate governance (ESG) values. For instance, AEP is looking forward to obtaining a reduction of 42% in its coal capacity by 2030 and add green energy segments. By the next decade, the company anticipates adding around 3.8 gigawatts of solar power to its power portfolio and 4.2 gigawatts of wind power.

    For the current year, AEP expects to return around $2.96 per share to investors, which would reflect a 4.2% increase year-over-year. Looking at the firm’s long-term objective, AEP stands a fair chance as an investment option for the long run.

    NextEra Energy (NEE)

    NextEra Energy (NEE) is the world’s largest utility company. NEE supplies energy to almost 5.5 million customers in Florida across two different subsidiaries. Moreover, the company is emerging as the largest generator of wind and solar renewable power.

    As we head forward, NextEra will be among the leading renewable energy firms. The company is working with the combination of its highly regulated Florida utility business and fast-growing renewables arm. For investors, this is a key aspect that offers an industry-leading renewable energy growth potential stock. While, it also pays a dividend with a yield of 2.06%, as we write this.

    In the last year, in one of the quarterly reports, the CEO of NextEra Rebecca Kujawa said that producing “green” hydrogen presents a “potential significant opportunity for us.” So, NextEra Energy (NEE) can be another key stock for long-term investment.

  • The best-performing stocks in the Solar Sector last trading session

    The best-performing stocks in the Solar Sector last trading session

    During the third quarter of 2020, U.S. solar firms built 3.8 GW of new solar PV capacity. The industry struggled to recover from some of the worst effects of the Covid-19 pandemic in Q2, which saw installations rise by 9%.

    The Solar Energy Industries Association (SEIA) and Wood Mackenzie have released the “US Solar Market Insight Q4 2020” report, which indicates that solar will account for 43% of all additional capacity additions through Q3 2020, more than any other electricity source. In 2020, a record 19 GW of new solar capacity is projected, representing a 43% year-over-year increase from 2019.

    The residential solar sector, which seems to have been the hardest hit by the pandemic’s business effects, has surpassed recovery expectations, rising 14 percent over Q2. Even it stayed below the rate of Q1.

    Following are the best performing stocks in the Solar Sector in the last trading session.

    Array Technologies Inc. (NASDAQ:ARRY) shares were trading up 4.57% at $38.64 at the time of writing on Tuesday. On December 7, 2020, the company declared the closing of the secondary offering by a parent entity of the Company controlled by Oaktree Capital.

    Array Technologies Inc. (NASDAQ:ARRY) share price went from a low point around $29.05 to briefly over $50.99 in past 52 weeks, though shares have since pulled back to $38.64. ARRY market cap has remained high, hitting $4.86B at the time of writing, giving it price-to-sales ratio of more than 5.

    If we look at the recent analyst rating ARRY, JP Morgan upgraded coverage on ARRY shares with an Overweight rating and a $45.39 price target, which implies room for 6.75% upside momentum this year.

    Canadian Solar Inc. (CSIQ) last closed at $43.02, in a 52-week range of $12.00 to $45.70. The firm on November 23, 2020 reported that it signed a power purchase agreement with BTG Pactual and that it was awarded with two projects in a private auction by Furnas Centrais Elétricas for a total of 862 MWp in solar power projects in Brazil. Analysts have a consensus price target of $45.57.

    Enphase Energy Inc. (ENPH) stock soar by 10.61% to $160.46. The company recently revealed the launch of the Enphase Installer Network (EIN) in Australia. The most recent rating by Piper Sandler, on December 11, 2020, is at an Overweight.

    First Solar Inc. (NASDAQ:FSLR) Shares headed rising, higher as much as 5.39%. The most recent rating by Piper Sandler, on December 11, 2020, is at a Neutral.

    JinkoSolar Holding Co. Ltd. (NYSE:JKS) rose 17.78% after gaining more than $9.55 on Tuesday following declaration of changes to its senior management team.

    Sunnova Energy International Inc. (NOVA) last closed at $42.97, in a 52-week range of $6.12 to $46.00. On December 4, 2020, the firm reported that it closed its securitization of leases and power purchase agreements on November 30, 2020. Analysts have a consensus price target of $40.18.

    Sunrun Inc. (RUN) stock soar by 10.63% to $63.17. The firm on November 24, 2020 reported five environmental justice initiatives to expand access to solar and its benefits. The most recent rating by UBS, on October 27, 2020, is at a Sell.

    SolarEdge Technologies Inc. (NASDAQ:SEDG) Shares headed rising, higher as much as 6.97%. The most recent rating by Piper Sandler, on December 11, 2020, is at an Overweight.

    ReneSola Ltd (NYSE:SOL) rose 17.19% after gaining more than $1.2 on Tuesday. The company stated on December 8, 2020, that China’s Ministry of Finance approved ten of the Company’s rooftop projects to receive incentive payments.

    SPI Energy Co. Ltd. (SPI) last closed at $7.64, in a 52-week range of $0.55 to $46.67.

    SunPower Corporation (SPWR) stock soar by 13.10% to $24.87. The firm on November 24, 2020, declared a tender offer to purchase any and all of its outstanding 0.875% Convertible Senior Debentures due 2021. The most recent rating by UBS, on October 27, 2020, is at a Sell.

    Sunworks Inc. (NASDAQ:SUNW) Shares headed rising, higher as much as 12.81%. On December 7, 2020, the company announced that it has sold approximately 3.8 million shares of common stock. The most recent rating by ROTH Capital, on April 02, 2020, is at a Neutral.

    VivoPower International PLC (NASDAQ:VVPR) rose 19.16% after gaining more than $1.23 on Tuesday after announcing the appointment of Gemma Godfrey to the Company’s Board of Directors.