Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Canadian Solar Inc. (CSIQ) is a solar energy solutions provider. The Zacks Consensus Estimate for its current year earnings has been revised 6.8% downward over the last 60 days.FMC Corporation (FMC) is an agricultural sciences company. The Zacks Consensus Estimate for its current year earnings has been revised 5.8% downward over the last 60 days.Indivior PLC (INDV) is a pharmaceutical company.The Zacks Consensus Estimate for its curre ...

Undervalued renewable energy stocks are in the spotlight amid a shift in the global energy mix. The renewable energy industry is forecast to grow 16.8% annually until 2031, illustrating its systematic potential.Despite the industry’s resilient growth rate, many renewable energy stocks remain undervalued. As such, I decided to embark on a journey to find three best-in-class renewable energy stocks to invest in. Methodologically, my screening process focused on fundamental aspects, valuation multiples and eve ...

Canadian Solar Inc. (CSIQ) recently revealed that its e-STORAGE subsidiary has clinched a contract to provide a 498 megawatt-hour (MWh) direct-current DC standalone battery energy storage system to Canada-based Aypa Power. The battery storage system will be installed in Aypa's Bypass Project in Texas, expected to be completed in the third quarter of next year.Benefits of the ContractFactors like economic and population growth in Texas in recent times, along with fast-rising demand for power from data center ...

GUELPH, ON, July 10, 2024 /PRNewswire/ -- Recurrent Energy, a subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ) and a global developer,  owner, and operator of solar and energy storage assets, announced today that it has signed a 10-year Power Purchase Agreement (PPA)  with GKN Automotive, the global leader in drive systems. This agreement will allow for the annual production of approximately 200 GWh of renewable electricity and marks GKN Automotive's first renewable energy PPA in Europe. ...

GUELPH, ON, July 9, 2024 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has secured a contract from Aypa Power ("Aypa") to deliver a 498 MWh DC standalone battery energy storage system for Aypa's Bypass Project. The Bypass Project is scheduled for completion in the third quarter of 2025.Strategically located in Fort Bend County near Thompsons, Te ...

GUELPH, ON, July 8, 2024 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has secured a contract from Nova Scotia Power to develop flagship energy storage projects across three locations in Nova Scotia, Canada: Bridgewater, Waverley, and White Rock. The projects, totaling 150 MW / 705 MWh DC, will play a crucial role in enhancing grid reliability a ...

The top solar stocks could be in for quite a bright future as they continue to supply various power producers with the equipment to meet the growing demand for sustainable energy. Undoubtedly, the artificial intelligence (AI) revolution and the rise of electric vehicles (EVs) stand out as two notable tailwinds that could bring forth more demand for solar power. While there’s still more progress and innovation that needs to happen before solar cells can start reducing demand for fossil fuels, I do find the b ...

ArtistGNDphotography Here at the Lab, this is not the first time that we have updated our readers on Canadian Solar's performance (NASDAQ:CSIQ). In November 2023, we anticipated short-term risks, downgrading 2023 and 2024 EBITDA estimates due to module prices and lower sales; however, we maintained a buy rating with the expectation of de-stocking activities in the US and Europe. For new investors, Canadian Solar is a leader in the solar industry and one of the largest manufacturers of crystalline silicon so ...

Solar energy is likely to be an integral part of the energy grid in the future. However, solar stocks have not had the best performance over the past 12 months. A lot of this is related to macroeconomic uncertainty we have all been hearing about. Energy prices soared in 2022 due to the Russia-Ukraine war. Back then, solar energy looked like a competitive alternative to oil & gas energy sources. As oil prices normalized in 2023, the allure of various solar energy products began to fade away. Moreover, high i ...

Renewable energy stocks might not be among the best performers in the recent past. However, there is no doubt that the sector will continue to grow beyond the current decade. For a long-term investor, this is the best time to consider exposure to undervalued renewable energy stocks.Talking about the industry potential, global renewable energy investment was $486 billion in 2022. The International Renewable Energy Agency believes that annual global investment should reach $1.3 trillion by 2030.Further, globa ...