5 Best Solar Stocks for 2021

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1. Enphase Energy, Inc. (NASDAQ: ENPH)

Number of Hedge Fund Holders: 49

Enphase Energy, Inc. (NASDAQ: ENPH) sells home energy solutions for the solar photovoltaic industry. The company operates in the US and internationally. It also offers semiconductor-based microinverters, which convert energy at the solar module level. The company ranks 2nd on our list of the best solar energy stocks to invest in.

This May, Enphase Energy, Inc. (NASDAQ: ENPH) launched a $500 million buyback program to repurchase shares. In the first quarter of 2021, the EPS of Enphase Energy, Inc. (NASDAQ: ENPH) came in at $0.56, beating estimates by $0.12, and its revenue came in at $301.75 million, representing an increase of 46.81% year over year and beating estimates by $9.32 million. The stock has gained 12.07% in the past 6 months and 10.75% year to date, and the company’s gross profit margin is 44.59%.

By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in Enphase Energy, Inc. (NASDAQ: ENPH). The total value of their stakes was roughly $803 million. This is compared to the previous quarter’s 48 hedge fund holders with a total stake value of approximately $988 million.

You can also take a look at 10 Best Solar Energy Stocks To Buy Now and 11 Best Clean Energy Stocks To Buy.

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