1. First Solar Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 79
First Solar Inc. (NASDAQ:FSLR) is one of the best solar energy stocks to buy right now. On April 30, First Solar reported a strong start to 2026 with Q1 net sales of $1.04 billion, a 24% increase compared to the prior year. This growth was fueled by record sales in India and higher module volumes sold to third parties. Net income reached $347 million, or $3.22 per diluted share, representing a 65% year-over-year increase, while adjusted EBITDA grew to $520 million, surpassing the company’s initial expectations.
The company maintained a massive contracted sales backlog of 47.9 GW as of March 31. While the net cash balance decreased to $2.0 billion due to seasonal working capital needs and investments in its South Carolina finishing facility, management emphasized that their domestic manufacturing footprint and independence from Chinese supply chains continue to strengthen their competitive position. For Q2, First Solar Inc. (NASDAQ:FSLR) anticipates module sales between 3.4 GW and 4.0 GW and adjusted EBITDA between $400 million and $500 million.
First Solar reaffirmed its full-year 2026 guidance, projecting net sales between $4.9 billion and $5.2 billion and adjusted EBITDA between $2.6 billion and $2.8 billion. This outlook assumes approximately $2.1 billion to $2.2 billion in Section 45X tax credits and a stable US policy environment. The company expects total volume sold for the year to range from 17.0 GW to 18.2 GW as it continues to scale its operations and advance its differentiated thin-film technology.
First Solar Inc. (NASDAQ:FSLR) is a leading American solar technology company specializing in advanced thin-film photovoltaic modules used primarily in utility-scale solar developments. It falls 3rd in the list of 11 most profitable renewable energy stocks right now.
While we acknowledge the potential of FSLR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FSLR and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 9 Most Active US Stocks to Buy Right Now and 10 Best Performing NASDAQ Stocks According to Wall Street Analysts.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
