5 Most Popular Green Energy Stocks Among Elite Hedge Funds

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

Number of Hedge Fund Holders: 36

First Solar, Inc. (NASDAQ:FSLR) is an Arizona-based company that markets solar panels and utility-scale photovoltaic power plants, in addition to technical services related to panel recycling. 

Wells Fargo analyst Michael Blum lowered the price target on First Solar, Inc. (NASDAQ:FSLR) to $88 from $115 to reflect broader macro trends, keeping an Equal Weight rating on the shares.

In the fourth quarter of 2021, 36 hedge funds were bullish on First Solar, Inc. (NASDAQ:FSLR), with combined stakes valued at roughly $200 million, as compared to 31 funds in the quarter earlier, holding stakes in First Solar, Inc. (NASDAQ:FSLR) worth $266.5 million. Renaissance Technologies held a significant position in First Solar, Inc. (NASDAQ:FSLR), with 533,900 shares worth $46.5 million. 

Here is what GDS Investments has to say about First Solar, Inc. (NASDAQ:FSLR) in their Q4 2020 investor letter:

“First Solar recently announced blowout results for its last fiscal quarter with earnings and revenues handily beating estimates. The Biden Administration should only accelerate the inevitable shift away from fossil fuels toward renewable energy as the costs associated with solar energy production reach parity with coal and oil production. As the following chart by the International Energy Agency makes clear, demand for oil should plateau in the 2030’s and, by the 2040’s, would account for less than 20% of global energy consumption.”