5 Most Undervalued Renewable Energy Stocks to Invest In

4. Array Technologies, Inc. (NASDAQ:ARRY)

Forward P/E: 7.69

On March 6, UBS lowered the firm’s price target on Array Technologies, Inc. (NASDAQ:ARRY) to $10 from $15 while maintaining a Buy rating on the shares. The adjustment reflects updated valuation assumptions following the company’s recent earnings results, though the firm continues to see long-term upside potential tied to the global expansion of utility-scale solar installations and the role of solar tracking technology in improving project efficiency.

On March 2, Morgan Stanley analyst David Arcaro lowered the firm’s price target on Array Technologies, Inc. (NASDAQ:ARRY) to $7 from $9 while maintaining an Equal Weight rating. The firm said it revised its financial model and valuation metrics after reviewing the company’s latest earnings report and updated operating outlook.

On February 25, the company reported full-year 2025 revenue of nearly $1.3 billion, representing approximately 40% year-over-year growth. The increase was supported by a 35% rise in tracker volume shipments, reflecting continued demand for solar tracking systems that optimize energy generation in large-scale solar projects.

For 2026, Array Technologies, Inc. (NASDAQ:ARRY) expects revenue of $1.4 billion to $1.5 billion with adjusted gross margins between 26% and 27%. Adjusted EBITDA is projected at $200 million to $230 million, while adjusted diluted earnings per share are expected to range between $0.65 and $0.75. Free cash flow conversion as a percentage of adjusted EBITDA is expected to remain broadly consistent with 2025 levels.

The company anticipates first-quarter 2026 revenue of approximately $200 million and expects revenue generation to be weighted toward the second half of the year, with an estimated 40/60 split between the first and second halves. The outlook is supported by a record $2.2 billion order book, including roughly $100 million from APA Corporation, along with strong financial performance in 2025.

Array Technologies, Inc. (NASDAQ:ARRY) is a global provider of solar tracking technology and fixed-tilt systems used in utility-scale and distributed solar power projects. Its systems enable solar panels to follow the movement of the sun throughout the day, increasing energy production and improving project efficiency for renewable energy developers.