The stock market is still near its all-time high, so finding good buying opportunities is difficult. Nonetheless, I scoured the market for the best solar stock to buy right now. In the weeks and months to come, these stocks could climb higher.
Discover below the actions that I have selected for you. I’ll show you some business highlights and why they might be good buys today …
Best solar actions
- ReneSola (NYSE: SOL)
- SolarEdge Technology (Nasdaq: SEDG)
- Enphase Energy (Nasdaq: ENPH)
Solar shares to buy
Enphase Energy is an American company headquartered in California. It is an energy company that creates solar and energy storage solutions. It also creates software to control and monitor your energy devices from the web.
It is aimed at home owners, business owners and installation personnel. The site is also very useful. It offers a price estimator, a community and a network of installers. In addition, he has a course that comes with a certificate upon completion.
Many analysts classify Enphase Energy as a “Sale”. However, this solar stock could easily surprise many of them. The company is growing rapidly …
Enphase exhibits historic five-year sales growth of 30% or more. This means that sales have grown an average of 30% per year over the past five years. Usually, sales growth in large companies has good sales growth rates, 5-10%. And small businesses can more easily grow more than 10%.
But Enphase is a company with a market cap of $ 21 billion. Thirty percent or more of sales gains, year over year, over five years is something to be very proud of.
The leadership of the company also looks great. Each is successful in their own fields and backgrounds. They are all appointed to positions which correspond to their experience. The CEO has worked with Cypress Semiconductor for several years. (Check out these major semiconductor stocks.) He was even in charge of starting Internet of Things businesses there.
On the valuation side, Enphase currently has a high P / E ratio, but buying this stock could still pay off. This business has a lot of room to grow with the solar industry.
SolarEdge Tech is a photovoltaic company. It is headquartered in Israel and provides solutions for energy optimization, solar inverters and monitoring systems for solar panels.
It also has a history of sales growth of 30% or more over five years. As a result, investors have pushed SolarEdge’s stock price higher and its P / E ratio is around 100. It’s high and investors expect much greater earnings growth. However, investors could continue to push it higher.
During the life of the share, its price has changed a lot. Since its listing on a public market in 2015, it has increased by approximately 1,200%. It peaked in early January 2021 at $ 377. Since then it had corrected itself to almost $ 200 and is now going back up. It’s closer to $ 260 today.
SolarEdge’s leadership looks pretty good. Every leader is a good choice for the job. Keep an eye out for SolarEdge as it could continue to grow rapidly and reward shareholders.
ReneSola is the best on this list. It’s the alone solar company listed on Zacks as a “buy” at the time of writing.
In 2008, the company was first introduced to the market. Their stock climbed above $ 130.
It came back down, experienced a few more spikes, and then went into hibernation in 2017. It came down to around $ 2. For about four years, he slept, hovering between $ 1 and $ 2.
Then, at the end of 2020, it started to increase again. In January 2021, it peaked at $ 35.77. He corrected but could come back soon. Buying this solar stock right now could pay you huge profits.
ReneSola is a leading company in the field of solar energy. It works globally, in many countries. These countries are part of Asia, Europe and North America. It has set up “local professional teams” in 10 countries. And it extends beyond these.
The company offers the development, financing, management and maintenance of solar projects. In addition, leadership seems strong for much of the business.
In the second quarter of 2021, net income is up more than 125% year on year. The net profit margin is also up 218% year over year. However, turnover is down almost 30% compared to last year. This means that he does a better job of making the sales that he has.
ReneSola has created a joint venture with Eiffel Investment Group. The company is called European Solar Energy Development and was established in May 2021. This new company has now acquired its first batch of solar projects, which totals 200 megawatts.
It also has ambitious goals to develop 700 megawatts of solar projects in Europe over the next three years.
The business also appears to be operating efficiently. In the space of four months, from June 2021 to September 2021, ReneSola acquired several large projects in Poland and Italy.
ReneSola is a large company in the field of solar energy. It helps take the solar industry higher.
Invest in solar stocks and more opportunities
Investing in ReneSola, SolarEdge Tech and Enphase Energy could generate good returns. Buying at the right time could give you an even greater return on your investment.
Remember to do your due diligence on every business. And invest only what you can afford to lose. I wish you lots of big wins!
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About Vanessa Adelman
Vanessa Adelman graduated with an interdisciplinary degree. She specialized in entrepreneurship, painting, music and cinema. Shortly thereafter, she received a writing mentorship with Mark Morgan Ford. Then she got her AWAI verification. Now Vanessa is freelance in the direct financial response industry. She has been investing since 2016. In her spare time, she enjoys books on money and wealth. She enjoys being with her boyfriend, hunting, fishing and having outdoor adventures.