5 Best Clean Energy Stocks To Buy According to Wall Street Analysts

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In this article, we discuss the 5 best clean energy stocks to buy according to Wall Street analysts. To read the detailed analysis of the renewable energy industry, go directly to the 12 Best Clean Energy Stocks To Buy According to Wall Street Analysts.

5. Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Average Analyst Price Target Upside: 66.36%

Shoals Technologies Group, Inc. (NASDAQ:SHLS) is a Tennessee-based company that produces electrical balance of system components for solar technology, battery electric storage, and EV charging systems. The company’s main clients are solar technology companies.

Shoals Technologies Group, Inc. (NASDAQ:SHLS) ranks 5th on our list of clean energy stocks to buy according to analysts with an average analyst price target showing an upside of 66.36%. Furthermore, compared to the company’s growth, its trailing twelve-month price-to-earnings ratio of 19.41 makes the stock quite attractive. Shoals Technologies Group, Inc. (NASDAQ:SHLS) experienced a 62.2% year-over-year (YoY) revenue growth and a nearly 160% YoY growth in net income in the second quarter of 2023.

According to our database, 24 hedge funds had a stake worth $394.737 million in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the second quarter of 2023. A few billionaire hedge fund holders were fairly bullish on the company’s stock in Q2 as D E Shaw and Citadel Investment Group increased their stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 63% and 289%, respectively.

Follow Shoals Technologies Group Inc.

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