Hottest Solar Stocks – First Solar (FSLR)
YTD Performance: +79%
As the leader in the sector, it stands to reason that First Solar (FSLR) would be one of the best performing solar stocks over the last year. Throughout 2013, FSLR stock managed to produce a nearly 80% return.
The key driver for FSLR stock has been strong earnings thanks to its focus on building grid-scale projects has paid off. See, First Solar designs, builds and operates huge solar farms for utilities — something that is turning out to be a very profitable niche.
FSLR managed to produce a huge $2.28 per share in earnings for its last quarter — a nearly 80% increase year-over-year and 140% better than what analysts predicted.
With FSLR managing to book about 860 megawatts (MW) of new utility-sized projects during the quarter, the solar stock’s backlog up has jumped to 2.7 GW. With the bulk of those projects located overseas and in key markets, FSLR stock should continue its march higher into the new year.