As oil prices have continued sliding, plenty of shine has come off alternative stocks and exchange-traded funds. The Guggenheim Solar ETF (NYSE: TAN) is no exception to that trend. TAN, the largest solar ETF, is down nearly 20 percent over just the past month, a slide that accounts for the bulk of the ETF's 27.1 percent 12-month decline.
The Solar Sector
Solar stocks have come under pressure this month due to sliding Chinese equity markets and concerns that the world's second-largest economy is slowing more than previously expected. Hong Kong and Chinese stocks combine for over 36 percent of TAN's. Those glum performance statistics arguably belie opportunity with solar stocks and TAN.
“Solar stocks are currently trading at bargain— basement prices compared with the broad market. The median trailing P/E of companies in the MAC Solar Index is currently 8.5, which is far below the P/E of 16.8 for the S&P ...
/www.benzinga.com/trading-ideas/long-ideas/16/01/6184722/shining-a-light-on-inexpensive-solar-stocks alt=Shining A Light On Inexpensive Solar Stocks>Full story available on Benzinga.com
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