First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules. It designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. The company's residual business operations include project development activities, operations and maintenance services, and the sale of PV solar power systems to third-party customers. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.

First Solar appears to be a financially strong company with very high profitability and almost no debt burden, but the market is already pricing in a noticeably improved business quality. A P/E ratio of 12.31 is significantly below the industry median, which in itself supports the valuation; however, a P/S ratio of 4.22 is 50.2% above the median and points to a more expensive revenue valuation. P/B of 2.20 and P/FCF of 14.30 look moderately attractive relative to the sector, while a zero debt/equity ratio reduces financial risk and strengthens balance sheet resilience. At the same time, ROE of 18.03%, ROA of 13.06%, and ROI of 23.90% are well above industry benchmarks and confirm high capital efficiency. Net profit margin of 32.48% and operating margin of 31.76% are also very strong, and their year-over-year growth indicates sustained operating quality. On the other hand, gross margin of 44.01% is below the industry median, and return on tangible equity lags the sector, which somewhat limits re-rating potential. Revenue, earnings, and EBITDA remain high overall, but several recent periods show unevenness: after stronger quarters there have also been pullbacks, so the trend does not look linearly accelerating. The cash position remains comfortable, with a current ratio of 2.52 and a quick ratio of 2.00 confirming good liquidity, and long-term debt is small in absolute terms. The company pays no dividend, so this factor does not add investment support. Overall, the fundamentals rather justify a high-quality but not aggressively growing valuation: strong profitability and the balance sheet support the price, but expensive revenue valuation and some signs of normalization in growth rates limit upside. For an investor, this is a story of a resilient business with strong profitability and low balance sheet risk, but without grounds for a sharply higher target valuation.

First Solar, Inc.

Слабый индекс, значительно упал. Быки продолжают терять уверенность.

Weak index, significantly down. Bulls continue to lose confidence.

Сильный индекс, значительно упал. Медведи в растерянности.

Strong index, significantly down. The bears are confused.

Средний индекс, без изменений. Рынок на стороне быков.

Medium index, flat. The market is on the bulls' side.

Средний индекс, без изменений. Рынок не поддерживает медведей.

Medium index, flat. The market does not support the bears.

Средний индекс, незначительно вырос. Приток средств в лонги увеличился и находится на высоком уровне.

Medium index, slightly up. The inflow of funds into longs has increased and is at a high level.

Средний индекс, значительно упал. Увеличился отток средств из шортов.

Medium index, significantly down. The outflow of funds from shorts has increased.

Strong profitability and near-zero debt support FSLR’s valuation, but the high revenue valuation and less-than-ideal momentum limit upside potential.

In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Global Payments Inc (Symbol: GPN) has taken over the #373 spot from First Solar Inc (Symbol: FSLR), according to The Online Investor.
Market capitalization is an important data point for investors to keep an eye on, for various reasons. The most basic reason is that it gives a true comparison of the value attributed by the stock market to a given company's stock. Many beginning investors look at one stock trading at $10 and another trading at $20 and mistakenly think the latter company is worth twice as much — that of course is a completely meaningless comparison without knowing how many shares of each company exist. But comparing market capitalization (factoring in those share counts) creates a true "apples-to-apples" comparison of the value of two stocks. In the case of Global Payments Inc (Symbol: GPN), the market cap is now $23.43 billion, versus First Solar Inc (Symbol: FSLR) at $22.26 billion.
Below is a chart of Global Payments Inc versus First Solar Inc plotting their respective size rank within the S&P 500 over time (GPN plotted in blue; FSLR plotted in green):
Below is a three month price history chart comparing the stock performance of GPN vs. FSLR:
Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers — much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). This can have a direct impact on which mutual funds and ETFs are willing to own the stock. For instance, a mutual fund that is focused solely on Large Cap stocks may for example only be interested in those companies sized $10 billion or larger. Another illustrative example is the S&P MidCap index which essentially takes the S&P 500 index and "tosses out" the biggest 100 companies so as to focus solely on the 400 smaller "up-and-comers" (which in the right environment can outperform their larger rivals). So a company's market cap, especially in relation to other companies, carries great importance, and for this reason we at The Online Investor find value to putting together these rankings daily.
Examine the full GPN market cap history vs. the full FSLR market cap history.
At the closing bell, GPN is up about 0.2%, while FSLR is up about 0.9% on the day Friday.
Further GPN Research:

Global Payments Takes Over #373 Spot From First Solar

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Global Clean Energy ETF (Symbol: ICLN) where we have detected an approximate $181.5 million dollar outflow -- that's a 7.9% decrease week over week (from 125,600,000 to 115,700,000). Among the largest underlying components of ICLN, in trading today First Solar Inc (Symbol: FSLR) is down about 1.6%, Bloom Energy Corp (Symbol: BE) is off about 0.1%, and Nextpower Inc (Symbol: NXT) is lower by about 2.4%. For a complete list of holdings, visit the ICLN Holdings page » The chart below shows the one year price performance of ICLN, versus its 200 day moving average:
Looking at the chart above, ICLN's low point in its 52 week range is $14.49 per share, with $23.78 as the 52 week high point — that compares with a last trade of $18.18. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further ICLN Research:

Notable ETF Outflow Detected - ICLN, FSLR, BE, NXT

In the latest trading session, First Solar (FSLR) closed at $204.45, marking a -1.43% move from the previous day. This change lagged the S&P 500's daily loss of 0.38%. Elsewhere, the Dow saw a downswing of 0.51%, while the tech-heavy Nasdaq depreciated by 0.29%.
The stock of largest U.S. solar company has fallen by 15.04% in the past month, lagging the Oils-Energy sector's gain of 5.1% and the S&P 500's gain of 2.08%.
The investment community will be closely monitoring the performance of First Solar in its forthcoming earnings report. The company's upcoming EPS is projected at $4.56, signifying a 7.55% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.32 billion, showing a 17.36% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $17.77 per share and a revenue of $5.08 billion, indicating changes of +25.05% and -2.74%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for First Solar. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.09% increase. First Solar presently features a Zacks Rank of #3 (Hold).
In terms of valuation, First Solar is currently trading at a Forward P/E ratio of 11.68. This valuation marks no noticeable deviation compared to its industry average Forward P/E of 11.68.
It is also worth noting that FSLR currently has a PEG ratio of 0.55. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Solar stocks are, on average, holding a PEG ratio of 0.64 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 231, finds itself in the bottom 7% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).

Here's Why First Solar (FSLR) Fell More Than Broader Market

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco Solar ETF (Symbol: TAN) where we have detected an approximate $156.0 million dollar outflow -- that's a 12.6% decrease week over week (from 25,930,000 to 22,650,000). Among the largest underlying components of TAN, in trading today First Solar Inc (Symbol: FSLR) is down about 0.3%, Nextpower Inc (Symbol: NXT) is down about 0.6%, and Enphase Energy Inc. (Symbol: ENPH) is lower by about 2.1%. For a complete list of holdings, visit the TAN Holdings page » The chart below shows the one year price performance of TAN, versus its 200 day moving average:
Looking at the chart above, TAN's low point in its 52 week range is $39.75 per share, with $75.60 as the 52 week high point — that compares with a last trade of $47.03. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further TAN Research:

Notable ETF Outflow Detected - TAN, FSLR, NXT, ENPH

Canadian Solar, Inc. CSIQ reported a second-quarter 2026 loss of $1.40 per share, wider than the Zacks Consensus Estimate of a loss of $1.01. The loss also widened compared with the year-ago quarter’s loss of eight cents.
CSIQ’s Revenues
Canadian Solar reported revenues of $1.21 billion, which beat the Zacks Consensus Estimate of $1.17 billion by 3.6%. The top line, however, declined 28.7% from the year-ago quarter’s figure of $1.69 billion.
Canadian Solar’s manufacturing business generated $1.09 billion in revenues during the second quarter. Solar module revenues were $589.4 million, while battery energy storage solutions contributed $425.9 million. Solar system kits generated $35.7 million, while EPC and other revenues were $43.0 million.
Recurrent Energy generated revenues of $113.9 million. Solar power and battery energy storage asset sales contributed $61.1 million, while power services generated $20.1 million. Revenues from electricity and battery energy storage operations totaled $32.7 million.
Canadian Solar Inc. Price, Consensus and EPS Surprise
Operational Update of CSIQ
Solar module shipments recognized as revenues totaled 3.1 gigawatts (GW), down 25% year over year. The company delivered 3.1 GW of solar modules during the quarter, with nearly half shipped to its North American home base.
Battery energy storage shipments recognized as revenues totaled 3.7 gigawatt-hours (GWh), up 73% year over year and 82% sequentially. Of the total, 471 megawatt-hours were shipped to internal projects under execution, with associated revenues expected to be recognized in subsequent quarters.
CSIQ's Margin and Expense Performance
Canadian Solar’s gross profit was $168 million compared with $505 million in the second quarter of 2025. Gross margin was 13.9%, down from 29.8% in the year-ago quarter. The decline primarily reflected the absence of IRA tariff refund benefits recognized in the prior quarter and the absence of realized profit from sales-type leasing of a U.S. project recorded in the prior-year period.
Total operating expenses were $240 million, down from $378 million in the second quarter of 2025. The decrease mainly reflected lower impairment charges related to certain solar and storage assets and reduced manufacturing assets. Operating expenses represented 19.8% of revenues compared with 22.3% a year ago.
Canadian Solar's Pipeline and Backlog
As of June 30, 2026, e-STORAGE’s contracted backlog, including contracted long-term service agreements, stood at $3.5 billion. The signed orders represent binding customer commitments and provide visibility over a multi-year period.
Recurrent Energy had a global solar project development pipeline of approximately 22 GW and a battery energy storage project development pipeline of 84 GWh. The solar pipeline included 1.7 GW under construction, 2.2 GW of backlog and 17.7 GW of early-stage projects.
CSIQ's Financial Update
As of June 30, 2026, Canadian Solar’s cash and cash equivalents totaled $1.46 billion compared with $1.37 billion as of Dec. 31, 2025.
Long-term borrowings as of June 30, 2026, were $3.29 billion, down from $3.62 billion as of Dec. 31, 2025.
CSIQ’s Guidance
For the third quarter of 2026, Canadian Solar expects revenues in the range of $1.30-$1.50 billion. The Zacks Consensus Estimate for third-quarter sales is pegged at $1.65 billion, higher than the company’s guided range.
The company expects the gross margin to be between 13.5% and 15.5%.
CSIQ’s Zacks Rank
Canadian Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Solar Release
Enphase Energy, Inc. ENPH reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.
Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million.
First Solar, Inc. FSLR reported second-quarter 2026 earnings of $3.92 per share, which beat the Zacks Consensus Estimate of $2.74 by 43.1%. The bottom line increased 23.3% from $3.18 in the year-ago quarter.
Net sales of $1.06 billion missed the consensus estimate of $1.061 billion by 0.4% and declined 3.7% year over year.
SolarEdge Technologies, Inc. SEDG reported second-quarter 2026 adjusted earnings of six cents per share, which beat the Zacks Consensus Estimate of four cents by 50%.
Revenues increased 19.6% year over year to $346.2 million and surpassed the consensus estimate of $343 million by 1.3%.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).

Canadian Solar Q2 Loss Wider Than Estimates, Revenues Fall Y/Y

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in NCR Voyix Corp (Symbol: VYX), where a total volume of 17,445 contracts has been traded thus far today, a contract volume which is representative of approximately 1.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 79.9% of VYX's average daily trading volume over the past month, of 2.2 million shares. Especially high volume was seen for the $17.50 strike call option expiring December 18, 2026, with 9,912 contracts trading so far today, representing approximately 991,200 underlying shares of VYX. Below is a chart showing VYX's trailing twelve month trading history, with the $17.50 strike highlighted in orange:
Salesforce Inc (Symbol: CRM) options are showing a volume of 93,299 contracts thus far today. That number of contracts represents approximately 9.3 million underlying shares, working out to a sizeable 77.4% of CRM's average daily trading volume over the past month, of 12.1 million shares. Especially high volume was seen for the $180 strike put option expiring August 28, 2026, with 7,742 contracts trading so far today, representing approximately 774,200 underlying shares of CRM. Below is a chart showing CRM's trailing twelve month trading history, with the $180 strike highlighted in orange:
And First Solar Inc (Symbol: FSLR) options are showing a volume of 20,341 contracts thus far today. That number of contracts represents approximately 2.0 million underlying shares, working out to a sizeable 77.4% of FSLR's average daily trading volume over the past month, of 2.6 million shares. Particularly high volume was seen for the $160 strike put option expiring June 17, 2027, with 5,049 contracts trading so far today, representing approximately 504,900 underlying shares of FSLR. Below is a chart showing FSLR's trailing twelve month trading history, with the $160 strike highlighted in orange:
For the various different available expirations for VYX options, CRM options, or FSLR options, visit StockOptionsChannel.com.
Further VYX Research:

Noteworthy Wednesday Option Activity: VYX, CRM, FSLR

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
What if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: First Solar (FSLR)
Headquartered in Tempe, AZ, First Solar, Inc. is the world’s largest thin-film PV solar module manufacturer and the largest PV solar module manufacturer in the Western Hemisphere. The company is a leading global provider of comprehensive photovoltaic (PV) solar energy solutions and specializes in designing, manufacturing, and selling solar electric power modules using a proprietary thin-film semiconductor technology. The company sells its products to project developers, system integrators and renewable energy project operators primarily in Europe and Germany in particular. First Solar also engages in designing and deploying commercial solar projects for utilities. The company also develops and sells PV solar power systems that primarily use the modules it manufactures. Additionally, it provides operations and maintenance (“O&M”) services to system owners.
FSLR is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 11.73; value investors should take notice.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.16 to $17.77 per share. FSLR boasts an average earnings surprise of +11.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, FSLR should be on investors' short list.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).

First Solar (FSLR) is a Top-Ranked Value Stock: Should You Buy?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Global Clean Energy ETF (Symbol: ICLN) where we have detected an approximate $183.4 million dollar inflow -- that's a 9.1% increase week over week in outstanding units (from 114,000,000 to 124,400,000). Among the largest underlying components of ICLN, in trading today First Solar Inc (Symbol: FSLR) is up about 1.1%, Nextpower Inc (Symbol: NXT) is off about 0.4%, and Bloom Energy Corp (Symbol: BE) is lower by about 0.7%. For a complete list of holdings, visit the ICLN Holdings page » The chart below shows the one year price performance of ICLN, versus its 200 day moving average:
Looking at the chart above, ICLN's low point in its 52 week range is $14.005 per share, with $23.78 as the 52 week high point — that compares with a last trade of $17.64. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further ICLN Research:

ICLN, FSLR, NXT, BE: Large Inflows Detected at ETF

For Immediate Release
Chicago, IL – August 19, 2026 – Today, Zacks Equity Research discusses First Solar FSLR, Enphase Energy ENPH and T1 Energy Inc TE.
Industry: Solar
Link: https://www.zacks.com/commentary/2976077/3-solar-stocks-to-watch-as-policy-shifts-reshape-the-industry
The U.S. solar market continues to benefit from strong demand from utilities, commercial customers and power-hungry data centers, with SEIA forecasting the nation’s solar fleet to double over the next five years. However, policy changes under the OBBBA and rising tariffs are creating a more uneven growth outlook by increasing uncertainty, raising manufacturing costs and putting pressure on supply chains.
While utility-scale solar is expected to remain the primary growth driver, the expiration of residential tax incentives and ongoing trade actions could weigh on broader market expansion. A few prominent companies that solar investors may want to monitor are First Solar, Enphase Energy and T1 Energy Inc.
About the Industry
The Zacks Solar industry can be fundamentally categorized into two groups of companies. One is involved in designing and producing high-efficiency solar modules, panels and cells, while the other is engaged in installing grids and, in some cases, entire solar power systems. The industry also includes a handful of companies that manufacture inverters for solar power systems, which convert solar power from modules into electricity required by electric grids. Per a report from the U.S. Energy Information Administration (“EIA”), solar’s share of U.S. electricity generation will be 8% in 2026 and 9% in 2027. It remains the nation's dominant form of new generating capacity.
3 Trends Shaping the Future of the Solar Industry
Strong Demand Supports Solar Market Growth: Across the United States, utilities and commercial customers are turning to solar power paired with battery storage to meet their growing need for affordable, dependable and cleaner electricity. Higher power costs and corporate decarbonization goals are strengthening the economic case for solar, while battery systems provide an added layer of reliability by supplying electricity when grid conditions are strained or outages occur.
At the same time, surging power requirements from data centers are creating a powerful new source of demand for renewable generation and energy storage. The rapid growth of artificial intelligence, cloud services and other digital technologies is driving hyperscalers and technology companies to commit substantial capital to large-scale solar and storage projects. By securing additional generation and storage capacity, these companies can better address their future electricity needs while advancing their emissions-reduction and net-zero objectives.
A report published in June 2026 by the Solar Energy Industries Association (“SEIA”) states that U.S. solar outlook for 2026-2031 has been raised by 1.4%, driven mainly by stronger utility-scale demand. The updated forecast points to the U.S. solar fleet doubling over the next five years, although annual capacity additions are expected to remain largely stagnant. By comparison, the previous doubling of the U.S. solar industry took just three years.
Policy Changes Reshape the U.S. Solar Growth Outlook: The One Big Beautiful Bill Act (“OBBBA”) has significantly changed the timeline for federal solar tax incentives. The key July 4, 2026, deadline for beginning construction has now passed, meaning solar projects that did not commence construction by that date generally must be placed in service by Dec. 31, 2027, to qualify for the Section 48E Investment Tax Credit or Section 45Y Production Tax Credit.
Another major policy issue is the OBBBA's new Foreign Entity of Concern (“FEOC”) restrictions. These rules affect projects seeking the 45Y and 48E credits, as well as manufacturers claiming the Section 45X advanced manufacturing credit. The OBBBA also eliminated the Section 25D residential clean-energy tax credit for customer-owned solar and storage systems after Dec. 31, 2025. This has created a more immediate headwind for the residential market than for utility-scale solar.
SEIA expects residential installations to decline sharply in 2026 following the expiration of 25D. SEIA expects the OBBBA to create a more uneven growth profile. Developers have been accelerating projects and securing their pipelines in response to the new tax-credit rules, which could pull some installations forward into 2026-2027 while creating greater uncertainty beyond that period.
Tariff Policies Add Pressure to the U.S. Solar Industry: The heightened U.S. tariffs on imported goods have been negatively impacting nearly all industries, and solar is no exception. As expected, these tariffs have increased manufacturing costs for solar companies, which were already grappling with raw material shortages due to global supply-chain challenges.
The SEIA’s June 2026 report highlights tariffs and ongoing trade actions as a significant challenge for the U.S. solar manufacturing industry. Although domestic module production has expanded substantially and now supplies about 70% of U.S. solar installations, manufacturers still depend heavily on imported solar cells, with the United States having only about 3 GW of domestic cell manufacturing capacity.
New preliminary antidumping (AD) and countervailing duty (CVD) tariffs announced for solar cells and modules from India, Indonesia and Laos add further pressure, while Malaysia, Thailand and Vietnam were already subject to tariffs. Together, these six countries supplied 78% of U.S. cell imports in 2025, meaning the trade measures could raise costs and tighten component availability for domestic manufacturers. SEIA also warned that a potential Section 232 action on solar-grade polysilicon and derivative products could further constrain U.S. solar manufacturing, depending on its scope.
Zacks Industry Rank Reflects Gloomy Outlook
The Zacks Solar industry is housed within the broader Zacks Oils-Energy sector. It currently carries a Zacks Industry Rank #202, which places it in the bottom 18% of more than 247 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s position in the bottom 50% of the Zacks-ranked industries is due to a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts have lost confidence in this group’s earnings growth potential over the past few months. The industry’s bottom-line estimate for the current fiscal year has moved down 10.7% to $1.34 since May 31.
Before we present a few solar stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Lags Sector & S&P 500
The solar industry has underperformed both its sector and the Zacks S&P 500 composite over the past year. The stocks in this industry have collectively lost 6.9% over the past year, while the Oils-Energy sector has risen 37.6%. The Zacks S&P 500 composite has surged 23% in the same time frame.
Industry's Current Valuation
On the basis of the trailing 12-month EV/EBITDA, which is commonly used for valuing solar stocks, the industry is currently trading at 10.66X compared with the S&P 500’s 18.16X and the sector’s 5.83X.
Over the past five years, the industry has traded as high as 32.53X, as low as 4.48X and at the median of 12.44X.
3 Solar Stocks to Watch
First Solar: Based in Tempe, AZ, the company is a leading global provider of comprehensive PV solar energy solutions and specializes in designing, manufacturing, and selling solar electric power modules using a proprietary thin-film semiconductor technology. On July 30, 2026, FSLR reported second-quarter results. The company achieved record second-quarter and first-half module sales volume, surpassed 100 GW of cumulative global module sales, and ended June with a substantial 45.1 GW contracted backlog extending through 2030. First Solar also maintained its 2026 guidance, including 17.0-18.2 GW of volume sold, $4.9-$5.2 billion in net sales and $2.6-$2.8 billion in adjusted EBITDA.
The Zacks Consensus Estimate for First Solar’s 2026 earnings per share (EPS) indicates an improvement of 24.91% from the prior-year reported figure. The consensus estimate for 2027 EPS indicates an improvement of 36.93% year over year. The company currently carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Enphase Energy: Based in Fremont, CA, this company is a global energy technology company that delivers energy management technology for the solar industry. It designs, develops, manufactures and sells home energy solutions, which connect energy generation, energy storage and control and communications management on a single intelligent platform. On July 28, 2026, Enphase Energy reported second-quarter results. The company shipped 1.59 million microinverters and 113.8 MWh of IQ Batteries, with battery shipments up from 103.1 MWh in the first quarter. U.S. manufacturing remained strong with 1.58 million microinverters and battery inverters shipped from its Texas and South Carolina facilities.
The consensus estimate for Enphase Energy’s 2027 EPS indicates an increase of 20% year over year. The Zacks Consensus Estimate for 2027 sales indicates an increase of 9.56% year over year. The stock currently carries a Zacks Rank of 3.
T1 Energy: Based in New York, the company is an energy solutions provider, building an integrated supply chain for solar and batteries. On Aug. 12, 2026, T1 Energy reported second-quarter results. T1 Energy reported approximately $250 million in net sales, while the company’s G1_Dallas facility continued to ramp up production. The company expects full-year 2026 production to reach the high end of its 3.1-4.2 GW target. T1 Energy also monetized its remaining 2025 Section 45X tax credits for $39.1 million, helping strengthen liquidity. However, it remained loss-making, with an estimated net loss from continuing operations of $34-$37 million and negative adjusted EBITDA of $14.5-$11.5 million.
The Zacks Consensus Estimate for T1 Energy’s 2026 EPS indicates an increase of 83.25% year over year. The consensus estimate for 2026 sales indicates an increase of 27.23% year over year. The stock currently carries a Zacks Rank #3.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Zacks Industry Outlook Highlights First Solar, Enphase Energy and T1 Energy

The U.S. solar market continues to benefit from strong demand from utilities, commercial customers and power-hungry data centers, with SEIA forecasting the nation’s solar fleet to double over the next five years. However, policy changes under the OBBBA and rising tariffs are creating a more uneven growth outlook by increasing uncertainty, raising manufacturing costs and putting pressure on supply chains. While utility-scale solar is expected to remain the primary growth driver, the expiration of residential tax incentives and ongoing trade actions could weigh on broader market expansion. A few prominent companies that solar investors may want to monitor are First Solar FSLR, Enphase Energy ENPH and T1 Energy Inc TE.
About the Industry
The Zacks Solar industry can be fundamentally categorized into two groups of companies. One is involved in designing and producing high-efficiency solar modules, panels and cells, while the other is engaged in installing grids and, in some cases, entire solar power systems. The industry also includes a handful of companies that manufacture inverters for solar power systems, which convert solar power from modules into electricity required by electric grids. Per a report from the U.S. Energy Information Administration (“EIA”), solar’s share of U.S. electricity generation will be 8% in 2026 and 9% in 2027. It remains the nation's dominant form of new generating capacity.
3 Trends Shaping the Future of the Solar Industry
Strong Demand Supports Solar Market Growth: Across the United States, utilities and commercial customers are turning to solar power paired with battery storage to meet their growing need for affordable, dependable and cleaner electricity. Higher power costs and corporate decarbonization goals are strengthening the economic case for solar, while battery systems provide an added layer of reliability by supplying electricity when grid conditions are strained or outages occur. At the same time, surging power requirements from data centers are creating a powerful new source of demand for renewable generation and energy storage. The rapid growth of artificial intelligence, cloud services and other digital technologies is driving hyperscalers and technology companies to commit substantial capital to large-scale solar and storage projects. By securing additional generation and storage capacity, these companies can better address their future electricity needs while advancing their emissions-reduction and net-zero objectives.
A report published in June 2026 by the Solar Energy Industries Association (“SEIA”) states that U.S. solar outlook for 2026-2031 has been raised by 1.4%, driven mainly by stronger utility-scale demand. The updated forecast points to the U.S. solar fleet doubling over the next five years, although annual capacity additions are expected to remain largely stagnant. By comparison, the previous doubling of the U.S. solar industry took just three years.
Policy Changes Reshape the U.S. Solar Growth Outlook: The One Big Beautiful Bill Act (“OBBBA”) has significantly changed the timeline for federal solar tax incentives. The key July 4, 2026, deadline for beginning construction has now passed, meaning solar projects that did not commence construction by that date generally must be placed in service by Dec. 31, 2027, to qualify for the Section 48E Investment Tax Credit or Section 45Y Production Tax Credit. Another major policy issue is the OBBBA's new Foreign Entity of Concern (“FEOC”) restrictions. These rules affect projects seeking the 45Y and 48E credits, as well as manufacturers claiming the Section 45X advanced manufacturing credit. The OBBBA also eliminated the Section 25D residential clean-energy tax credit for customer-owned solar and storage systems after Dec. 31, 2025. This has created a more immediate headwind for the residential market than for utility-scale solar. SEIA expects residential installations to decline sharply in 2026 following the expiration of 25D. SEIA expects the OBBBA to create a more uneven growth profile. Developers have been accelerating projects and securing their pipelines in response to the new tax-credit rules, which could pull some installations forward into 2026-2027 while creating greater uncertainty beyond that period.
Tariff Policies Add Pressure to the U.S. Solar Industry: The heightened U.S. tariffs on imported goods have been negatively impacting nearly all industries, and solar is no exception. As expected, these tariffs have increased manufacturing costs for solar companies, which were already grappling with raw material shortages due to global supply-chain challenges. The SEIA’s June 2026 report highlights tariffs and ongoing trade actions as a significant challenge for the U.S. solar manufacturing industry. Although domestic module production has expanded substantially and now supplies about 70% of U.S. solar installations, manufacturers still depend heavily on imported solar cells, with the United States having only about 3 GW of domestic cell manufacturing capacity. New preliminary antidumping (AD) and countervailing duty (CVD) tariffs announced for solar cells and modules from India, Indonesia and Laos add further pressure, while Malaysia, Thailand and Vietnam were already subject to tariffs. Together, these six countries supplied 78% of U.S. cell imports in 2025, meaning the trade measures could raise costs and tighten component availability for domestic manufacturers. SEIA also warned that a potential Section 232 action on solar-grade polysilicon and derivative products could further constrain U.S. solar manufacturing, depending on its scope.
Zacks Industry Rank Reflects Gloomy Outlook
The Zacks Solar industry is housed within the broader Zacks Oils-Energy sector. It currently carries a Zacks Industry Rank #202, which places it in the bottom 18% of more than 247 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
The industry’s position in the bottom 50% of the Zacks-ranked industries is due to a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts have lost confidence in this group’s earnings growth potential over the past few months. The industry’s bottom-line estimate for the current fiscal year has moved down 10.7% to $1.34 since May 31.
Before we present a few solar stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Lags Sector & S&P 500
The solar industry has underperformed both its sector and the Zacks S&P 500 composite over the past year. The stocks in this industry have collectively lost 6.9% over the past year, while the Oils-Energy sector has risen 37.6%. The Zacks S&P 500 composite has surged 23% in the same time frame.
One-Year Price Performance
Industry's Current Valuation
On the basis of the trailing 12-month EV/EBITDA, which is commonly used for valuing solar stocks, the industry is currently trading at 10.66X compared with the S&P 500’s 18.16X and the sector’s 5.83X.
Over the past five years, the industry has traded as high as 32.53X, as low as 4.48X and at the median of 12.44X.
EV-EBITDA Ratio (TTM)
3 Solar Stocks to Watch
First Solar: Based in Tempe, AZ, the company is a leading global provider of comprehensive PV solar energy solutions and specializes in designing, manufacturing, and selling solar electric power modules using a proprietary thin-film semiconductor technology. On July 30, 2026, FSLR reported second-quarter results. The company achieved record second-quarter and first-half module sales volume, surpassed 100 GW of cumulative global module sales, and ended June with a substantial 45.1 GW contracted backlog extending through 2030. First Solar also maintained its 2026 guidance, including 17.0-18.2 GW of volume sold, $4.9-$5.2 billion in net sales and $2.6-$2.8 billion in adjusted EBITDA.
The Zacks Consensus Estimate for First Solar’s 2026 earnings per share (EPS) indicates an improvement of 24.91% from the prior-year reported figure. The consensus estimate for 2027 EPS indicates an improvement of 36.93% year over year. The company currently carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price & Consensus: FSLR
Enphase Energy: Based in Fremont, CA, this company is a global energy technology company that delivers energy management technology for the solar industry. It designs, develops, manufactures and sells home energy solutions, which connect energy generation, energy storage and control and communications management on a single intelligent platform. On July 28, 2026, Enphase Energy reported second-quarter results. The company shipped 1.59 million microinverters and 113.8 MWh of IQ Batteries, with battery shipments up from 103.1 MWh in the first quarter. U.S. manufacturing remained strong with 1.58 million microinverters and battery inverters shipped from its Texas and South Carolina facilities.
The consensus estimate for Enphase Energy’s 2027 EPS indicates an increase of 20% year over year. The Zacks Consensus Estimate for 2027 sales indicates an increase of 9.56% year over year. The stock currently carries a Zacks Rank of 3.
Price & Consensus: ENPH
T1 Energy: Based in New York, the company is an energy solutions provider, building an integrated supply chain for solar and batteries. On Aug. 12, 2026, T1 Energy reported second-quarter results. T1 Energy reported approximately $250 million in net sales, while the company’s G1_Dallas facility continued to ramp up production. The company expects full-year 2026 production to reach the high end of its 3.1-4.2 GW target. T1 Energy also monetized its remaining 2025 Section 45X tax credits for $39.1 million, helping strengthen liquidity. However, it remained loss-making, with an estimated net loss from continuing operations of $34-$37 million and negative adjusted EBITDA of $14.5-$11.5 million.
The Zacks Consensus Estimate for T1 Energy’s 2026 EPS indicates an increase of 83.25% year over year. The consensus estimate for 2026 sales indicates an increase of 27.23% year over year. The stock currently carries a Zacks Rank #3.
Price & Consensus: TE
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).