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2 Solar Energy Stocks For Your November 2022 Watchlist

Here are two top solar energy stocks to check out in the stock market today.

solar energy stocks

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

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.

Source: TD Ameritrade TOS

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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.

Source: TD Ameritrade TOS

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By Brandon Michael

Brandon Michael is a financial specialist and financial contributor to the stock market. He enjoys writing about rising stocks and how the market changes over time. He specializes in multimedia and events, as well as social media management and media contributing. He has managed and marketed hundreds of events, as well as grown social media pages upwards of 200,000 followers and everything in between. As an active social media influencer in the car community, he understands how to recognize trends and curate content for niches. From an early age, Brandon was fascinated by the power of social media and how it built companies and careers for many. Over time he has developed many different strategies for different platforms on how to grow different kinds of pages. In addition to social media skills, he is passionate about events, it is second nature to him to promote them and make sure that everything is executing perfectly. This has allowed him to partner with some of the largest companies in the industry to run events for hundreds of thousands of people. Brandon has written many articles for many notable top websites for the last 3 years. His focus in his writing is generally rising stocks and emerging trends in the stock market, as well as bringing companies with market potential to the frontlines of the media. It is easy for him to identify trends and do extensive research to make sure he’s providing the most accurate research possible. In his free time, he continues to improve his research skills and financial knowledge to continue providing the best work possible.

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