In this article, we discuss the 5 best clean energy stocks to buy today. If you want to read our detailed analysis of these companies, go directly to the 9 Best Clean Energy Stocks to Buy Today.
5. First Solar, Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 31
First Solar, Inc. (NASDAQ:FSLR) ranks fifth on the list of 9 best clean energy stocks to buy today. The Arizona-based solar energy firm sells photovoltaic (PV) solar panel solutions.
On August 2, the stock gained 2.8% after Susquehanna upgraded First Solar, Inc. (NASDAQ:FSLR) to Positive from Neutral and raised its price target to $120 from $89, noting management’s bullish comments on solar module demand and pricing on the company’s second-quarter results call.
On September 21, KeyBanc analyst Sophie Karp initiated a Sector Weight rating on First Solar, Inc. (NASDAQ:FSLR), citing the solar panel maker’s advantage to gain from the ongoing governmental moves supporting domestic solar products manufacturers.
The company has a market cap of $9.69 billion. In the second quarter of 2021, First Solar, Inc. (NASDAQ:FSLR) reported an EPS of $0.78, beating estimates by $0.22. The company’s revenue in the second quarter was $629 million and beat revenue estimates by $8.73 million. The company increased its 2021 revenue guidance for FY 2021 to $2.875 billion – $3.1 billion from $2.85 billion – $3.025 billion. The stock has gained 54% in the previous year.
At the end of the second quarter of 2021, 31 hedge funds in the database of Insider Monkey held stakes worth $317 million in First Solar, Inc. (NASDAQ:FSLR), up from 24 hedge funds in the previous quarter worth $304 million.
4. Plug Power Inc. (NASDAQ:PLUG)
Number of Hedge Fund Holders: 34
Plug Power Inc. (NASDAQ:PLUG) is a hydrogen fuel cell company based in New York that ranks fourth on the list of the 9 best clean energy stocks to buy today. Plug Power Inc. (NASDAQ:PLUG) markets fuel cell engines for electric vehicles (EVs), automated guided vehicles (AGVs), and unmanned aerial vehicles (UAVs). The company also offers clean power backup solutions to data centers and telecom networks.
In June, Plug Power Inc. (NASDAQ:PLUG) teamed up with a French car manufacturer Renault SA (OTC:RNLSY) to develop and market hydrogen-powered light commercial trucks and hydrogen charging stations in Europe by the end of 2021. The stock has gained 4.33% in the previous month.
On September 20, Plug Power Inc. (NASDAQ:PLUG) announced plans to build a new manufacturing facility in Fresno County, California, capable of producing 30 metric tons of liquid green hydrogen per day. The stock has gained 2.3% on September 23 after investment bank Piper Sandler upgraded Plug Power Inc.(NASDAQ:PLUG) to Overweight from Neutral with a $33 price target.
The company has a market cap of $15.5 billion. In the second quarter of 2021, Plug Power Inc. (NASDAQ:PLUG) reported an EPS of -$0.18, missing estimates by -$0.11. Yet, the company delivered solid Q2 results in August with net revenue of $124.6 million, an increase of 83% year over year, and beat revenue estimates by $13.4 million. Shares of Plug Power Inc. (NASDAQ:PLUG) increased 140% in the past twelve months.
At the end of the second quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $878 million in Plug Power Inc. (NASDAQ:PLUG), up from 25 hedge funds in the previous quarter worth $612 million.
3. Enphase Energy, Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 44
Enphase Energy, Inc. (NASDAQ:ENPH) ranks third on the list of the 9 best clean energy stocks to buy today. The company manufactures and sells microinverters and energy storage for residential and enterprise solar panel systems.
On September 21, KeyBanc analyst Sophie Karp initiated an Overweight rating on Enphase Energy, Inc. (NASDAQ:ENPH) with a price target of $179 per share, emphasizing the solar company’s microinverter market share in the growing residential solar industry in the United States.
The company has a market cap of $21 billion. In the second quarter of 2021, Enphase Energy, Inc. (NASDAQ:ENPH) reported an EPS of $0.53, beating estimates by $0.11. The company’s second-quarter revenue came in at $316.1 million, an increase of 152% year over year, and beat revenue estimates by $4.82 million. Enphase Energy, Inc. (NASDAQ:ENPH) delivered 2,362,401 microinverters and 43 megawatt-hours of storage systems in the second quarter. The stock has gained 121% in the past twelve months.
At the end of the second quarter of 2021, 44 hedge funds in the database of Insider Monkey held stakes worth $724 million in Enphase Energy, Inc. (NASDAQ:ENPH), down from 49 hedge funds in the previous quarter worth $804 million.
2. NextEra Energy, Inc. (NYSE:NEE)
Number of Hedge Fund Holders: 59
NextEra Energy, Inc. (NYSE:NEE) is the world’s largest wind and solar energy generator, and it ranks second on the list of the 9 best clean energy stocks to buy today. NextEra Energy, Inc. (NYSE:NEE) produces and distributes solar, wind, and nuclear power. The company serves over 5.6 million customer accounts in North America.
On July 13, Credit Suisse analysts initiated coverage of NextEra Energy, Inc. (NYSE:NEE) with an Outperform rating with a price target of $85 per share.
The company has a market cap of $160 billion. In the second quarter of 2021, NextEra Energy, Inc. (NYSE:NEE) reported an EPS of $0.71, beating estimates by $0.02. The company’s revenue in the second quarter was $3.93 billion. Shares of NextEra Energy, Inc. (NYSE:NEE) increased 16% in the past twelve months.
At the end of the second quarter of 2021, 59 hedge funds in the database of Insider Monkey held stakes worth $2.67 billion in NextEra Energy, Inc. (NYSE:NEE), down from 63 hedge funds in the previous quarter worth $2.72 billion.
1. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 60
Topping the list of the 9 best clean energy stocks to buy today is Tesla, Inc. (NASDAQ:TSLA). Aside from manufacturing electric vehicles, Tesla, Inc. (NASDAQ:TSLA) is gaining momentum in the photovoltaic systems market. Tesla, Inc. (NASDAQ:TSLA) reported $801 million in sales from its energy and storage division in the second quarter of 2021, up 62% from the previous quarter and grew more than 116% year over year. In comparison to the previous year, the total deployment of energy storage and solar energy in Q2 2021 increased by 205% and 215%, respectively.
On September 17, Wedbush analyst Daniel Ives kept an Outperform rating on Tesla, Inc. (NASDAQ:TSLA) with a price target of $1,000 per share.
Tesla, Inc. (NASDAQ:TSLA) released a software update on September 24 that allows customers to gain access to the Full Self-Driving Beta (FSD beta) program, which the company sells in the United States for $10,000 upfront or $199 per month.
The company has a market cap of $753 billion. In the second quarter of 2021, Tesla, Inc. (NASDAQ:TSLA) reported an EPS of $1.45, beating estimates by $0.47. The company’s revenue in the quarter came in at $11.96 billion, an increase of 98% year over year, and beat revenue estimates by $559.33 million.
At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9.29 billion in Tesla, Inc. (NASDAQ:TSLA), down from 62 hedge funds in the previous quarter worth $10 billion.
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