5 Best Alternative Energy Stocks to Buy Now

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

Number of Hedge Fund Holders: 26  

First Solar, Inc. (NASDAQ:FSLR) provides photovoltaic solar energy solutions globally. It is one of the elite clean energy stocks to invest in. On September 19, the company announced that it had signed a deal to supply 600 MW of advanced thin film photovoltaic solar modules to Azure Power Global (NYSE:AZRE), an  India-based firm. The company said the deal is the first of its kind for production from the factory in Tamil Nadu in India, which is expected to be commissioned in the second half of 2023. Azure expects to take deliveries starting in the fourth quarter of 2023 through 2025.

On September 9, Susquehanna analyst Biju Perincheril maintained a Positive rating on First Solar, Inc. (NASDAQ:FSLR) stock and raised the price target to $175 from $120, noting that the company recently announced plans to expand capacity.  

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in First Solar, Inc. (NASDAQ:FSLR), with 1.88 million shares worth more than $128 million.