Solar energy stocks have been on the rise in recent years. This comes as more and more companies and homeowners alike are looking for ways to reduce their carbon footprints. In brief, solar energy is a clean and renewable resource that can be used to generate electricity, heat water, and power homes and businesses. Solar panel systems can be installed on rooftops or in open spaces. Also, technology is constantly improving, making it more efficient and affordable.
Solar energy stocks could be a great way to invest in the future of energy. With the industry growing at a rapid pace, there are plenty of opportunities for growth. In turn, solar energy is an exciting and burgeoning industry, and solar energy stocks could be a smart investment for those looking to profit from the continued growth of renewable energy. If this has you keen on investing in the solar energy sector, check out these two hot solar energy stocks in the stock market today.
Solar Energy Stocks To Watch Now
- First Solar Inc. (NASDAQ: FSLR)
- SolarEdge Technologies Inc. (NASDAQ: SEDG)
1. First Solar (FSLR Stock)
First up, let’s look at First Solar Inc. (FSLR). For starters, First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. Next, First Solar also provides engineering, procurement, and construction services for solar power projects around the world.
FSLR Recent Stock News
In recent, news First Solar announced its third-quarter 2022 financial results. In the report, the company posted a loss of $0.46 a share, with revenue of $628.9 million for Q3 2022. What’s more, FSLR was able to grow revenue by 7.8% compared to the same period, a year prior. Also in the report, the company said it estimates a 2022 loss in the range of $0.65 to $0.35 per share, along with revenue for the fiscal year 2022 of $2.6 to $2.7 billion.
Mark Widmar, CEO of First Solar commented, “This year we have developed the potential for our CdTe semiconductor technology by progressing our next-generation Series 7 and bifacial platforms, set in motion plans to scale our global manufacturing capacity to over 20 GWDC by 2025, and secured record year-to-date bookings of 43.7 GWDC with deliveries extending into 2027.”
FSLR Stock Chart
So far in 2022, shares of First Solar stock have jumped by 76.10% year-to-date. Meanwhile, during Thursday morning’s trading session, FSLR stock is trading higher by 3.21% at $156.01 per share.
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2. SolarEdge Technologies (SEDG Stock)
Next, SolarEdge Technologies (SEDG) designs, develops and sells direct current optimized inverter systems for solar photovoltaic installations. The company’s products maximize energy production for both residential and commercial PV systems.
SEDG Recent Stock News
On Monday of this week, SolarEdge reported its 3rd quarter 2022 financial results. In detail, the company notched in earnings of $0.31 per share, along with revenue of $836.7 million for Q3 2022. Additionally, SolarEdge reported a 59% increase in revenue on a year-over-year basis. Moreover, the company said it projects Q4 2022 revenue in the range of $855.0 million to $885.0 million.
Zvi Lando, Chief Executive Officer of SolarEdge commented, “We are pleased with our third quarter results, setting new revenue and operating profit records. The results reflect extremely strong momentum in Europe where our revenues grew 90% compared to the same quarter last year. This quarter we increased production and were able to ship more units while increasing our operational efficiency and returning to a growth trajectory for our gross margins.“
SEDG Stock Chart
In the last month of trading activity, SEDG stock has recovered 32.63%. Meanwhile, on Thursday morning shares of SEDG stock are up 10.61% trading at $278.28 a share.
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