5 Most Undervalued Solar Stocks to Buy According to Hedge Funds

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In this article, we will take a look at the 5 most undervalued solar stocks to buy according to hedge funds. To see more such companies, go directly to 10 Most Undervalued Solar Stocks to Buy According to Hedge Funds.

5. SunPower Corporation (NASDAQ:SPWR)

Number of Hedge Fund Holders: 26

With a PE ratio of 53 (compared to industry PE of 83), SunPower Corporation (NASDAQ:SPWR) is one of the most undervalued solar stocks to buy according to hedge funds. SunPower Corporation (NASDAQ:SPWR) has lost about 16% in value over the past six months. In November, SunPower Corporation (NASDAQ:SPWR) shares gained after investment firm Credit Suisse upgraded SunPower Corporation (NASDAQ:SPWR) to Neutral from Underperform. The ratings upgrade came after SunPower Corporation (NASDAQ:SPWR) posted strong Q3 results that beat estimates. SunPower Corporation (NASDAQ:SPWR) also reaffirmed its 2022 guidance. SunPower Corporation (NASDAQ:SPWR) is expecting its adjusted EBITDA per customer to come in between $2,000 to $2,400.

A total of 26 hedge funds tracked by Insider Monkey reported owning stakes in SunPower Corporation (NASDAQ:SPWR) as of the end of the third quarter, up from 21 funds in the previous quarter. The total value of these stakes was about $190 million.

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