Why Array Technologies (ARRY) Is Among the Best Wind Power and Solar Stocks to Invest in Now

Insider Monkey2024-12-07

We recently published a list of 10 Best Wind Power and Solar Stocks To Invest In Now. In this article, we are going to take a look at where Array Technologies, Inc. (NASDAQ:ARRY) stands against other ...

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In this article, we are going to take a look at where Array Technologies, Inc. (NASDAQ:ARRY) stands against other ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-array-technologies-arry-among-130810117.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"QID","symbol_name":"纳指两倍做空ETF","start_time":0,"source_url":"https://finance.yahoo.com/news/why-array-technologies-arry-among-130810117.html","article_id":"2489222679","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/mYqwLgr.vF8BKYJvk9ybPQ--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/6d97940cc96f3d32840c50fc41c8a1e9"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489222679","pubTimestamp":1733576890,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently published a list of 10 Best Wind Power and Solar Stocks To Invest In Now. 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In this article, we are going to take a look at where Array Technologies, Inc. (NASDAQ:ARRY) stands against other best wind power and stocks to invest in now.\nAccording to a report by the World Economic Forum published on November 8, the US election result is expected to have a significant impact on the transition to renewable energy sources. Solar and wind energy stocks fell sharply following the election, as Donald Trump's victory is anticipated to have a negative short-term impact on current climate policies. The president-elect has proposed policies that include increasing natural gas pipelines, ending offshore wind energy projects, and boosting fossil fuel production by easing restrictions on drilling on federal lands. He has also expressed intentions to withdraw the US from the Paris climate agreement and to support nuclear energy production.\nDespite these challenges, analysts predict that the boom in renewable energy in the US is unlikely to be dramatically slowed. The Inflation Reduction Act passed during the outgoing administration, is expected to inject $1 trillion of spending into green energy, with estimates that 85% of the money has gone to districts that elected Republicans. This financial support, along with existing opposition to the curtailment of renewable energy, suggests that the long-term trajectory of the energy transition remains uncertain but potentially resilient.\nREAD ALSO: 10 Oil Stocks with Biggest Upside Potential According to Analysts and 7 Best Emerging Markets Stocks To Buy Now.\nTrump's Energy Policy and the Role of Elon Musk\nIn an interview with CNBC on November 13, Will Rhind, CEO of GraniteShares, discussed the potential implications of a Trump presidency on renewable energy such as wind and solar. Rhind noted that the playbook on energy policy was already seen in the previous Trump administration. The Trump administration has historically been more supportive of fossil fuels and less focused on renewable energy. Therefore, stocks and sectors favored by the Biden administration, such as solar and wind, might see a downturn.\nRhind suggested that the overall narrative may seem like it's shifting back toward traditional energy sources. However, Elon Musk seems to be playing an integral role in the Trump administration, and he has been a proponent of climate policies, with his electric vehicle (EV) industry and other businesses, which suggests that energy transition policies may not be as impactful as some might expect today.\nWhile the outcome of the US election and the anticipated policies of the new administration pose short-term challenges to renewable energy, the long-term outlook remains cautiously optimistic.\n An aerial view of a solar panel farm, its panel incremented tracking the sun's path. \nOur Methodology\nTo compile our list of the 10 best wind power and solar stocks to invest in now, we used clean energy ETFs plus online rankings to compile an initial list of 20 wind and solar energy stocks. We then used Insider Monkey’s Hedge Fund database to rank 10 stocks according to the largest number of hedge fund holders, as of Q3 2024. The list is sorted in ascending order of hedge fund sentiment.\nWhy do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\nArray Technologies, Inc. (NASDAQ:ARRY)  \nNumber of Hedge Fund Holders: 36  \nArray Technologies, Inc. (NASDAQ:ARRY) is a manufacturer of solar tracking systems, primarily serving utility-scale solar projects. The company collaborates with large-scale developers and utilities and has established itself as a trusted partner for solar developers around the world.\nArray Technologies, Inc. (NASDAQ:ARRY) is focused on expanding its presence in international markets. The company has seen success in Brazil, and is now targeting growth in Europe, where management is confident that its targeted customer activities will support growth in the coming quarters. Array Technologies, Inc. (NASDAQ:ARRY) has also developed its SmarTrack software platform, which uses on-site snow sensors to move rows to high tilt to dump any accumulated snow. By investing in these types of solutions, Array Technologies, Inc. (NASDAQ:ARRY) is also positioning itself to help insurance companies, by safeguarding utility-scale solar investments, which could drive significant revenue from the European market.\nArray Technologies, Inc. (NASDAQ:ARRY) is also investing in product innovation, with a focus on developing solutions that can help mitigate the risks associated with extreme weather events. The company’s recently introduced 77-degree tracker provides protection from hail and wind.\nOverall, ARRY ranks 7th on our list of best wind power and stocks to invest in now. While we acknowledge the potential of ARRY to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ARRY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2489222679"}