'Trading Nation' Team Weighs In On Solar Stocks

Katie Stockton of Fairlead Strategies and Quint Tatro of Joule Financial spoke on CNBC's "Trading Nation" about opportunities in the solar space.

Stockton said Invesco Solar ETF (NYSE:TAN) was down about 36% from its highs and yet it didn't reverse the long-term uptrend. She sees some signs of stabilization as the stock is trading above the rising 200-day moving average and close to its support in the mid-80s. Stockton said this is a nice staging ground for a relief rally.

Tatro said there is some value to be found in the solar sector and his favorite name in the group is First Solar, Inc. (NASDAQ:FSLR). He sees it as a solar utility play. The company has a tangible book value of about $52 per share, $16 per share of cash and almost no debt, said Tatro. It trades at around 25 times forward earnings while growing those earnings over the next several years by 30%.

Companies around the world are shifting gears towards clean technology to adhere to more sustainable business practices. Check out Benzinga's Cleantech Small Cap Conference on April 22 to learn more!