5 Most Undervalued Renewable Energy Stocks To Buy According To Analysts

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

PE Ratio as of March 21: 19.87

Average Upside Potential as of March 21: 43.51%

Number of Hedge Fund Holders: 47

First Solar, Inc. (NASDAQ:FSLR) is an Arizona-based company and the largest PV manufacturer in the Western Hemisphere. It is engaged in the designing, manufacturing, and selling of PV solar modules and plans on increasing its global annual manufacturing capacity to over 20 gigawatts by 2025.

First Solar, Inc. (NASDAQ:FSLR) takes the third spot on our list of the most undervalued renewable energy stocks to buy according to analysts, and has a PE ratio of 19.87 as of March 21. Additionally, 20 Wall Street analysts have covered First Solar, Inc. (NASDAQ:FSLR) in the last three months, and 16 keep a Buy rating on the stock. As of March 21, the average price target of $220.72 has an upside of 43.51% from the present levels.

In the fourth quarter, First Solar, Inc. (NASDAQ:FSLR) was part of 47 funds’ portfolios, and the total stake value was $1.106 billion. With 1.792 million shares worth $308.736 million, Samlyn Capital is the most prominent shareholder in the company as of December 31, 2023.

On February 27, First Solar, Inc. (NASDAQ:FSLR) announced its Q4 GAAP EPS of $3.25, which surpassed the estimates by $0.13. In the quarter, the revenue grew 16.0% year-over-year and amounted to $1.16 billion.