4 Renewable Energy Stocks Worth Watching This Week
While the world continues to deal with a global pandemic, the climate crisis remains a relevant issue today. As such, some would argue that the growth story among renewable energy stocks in the stock market today still holds strong. This would be the case as the energy industry looks towards cleaner and more sustainable sources of power generation. On top of that, even President Joe Biden’s administration is looking to bolster the country’s renewable energy industry now. This is evident as Biden’s latest infrastructure bill will see billions being invested towards electric vehicle (EV) infrastructure locally. Ideally, this could further bolster EV adoption in the U.S.
For the most part, investors looking to bet on renewables have a sizable pool of options to choose from now. The aforementioned federal focus on EV adoption would highlight companies such as Blink Charging (NASDAQ: BLNK) and Volta Charging (NYSE: SNPR). Elsewhere, conventional renewable energy players like Jinko Solar (NYSE: JKS) would also gain momentum as solar energy adoption trends accelerate. In fact, Jinko Solar is collaborating with the Maersk Shipping Company to significantly expand its logistics network, as of today. Now, these are but two instances of the ever-evolving and expanding renewable energy industry. Having read all this, you might be keen on the sector yourself. In that case, here are four making headlines in the stock market now.
Best Renewable Energy Stocks To Watch This Month
- ChargePoint Holdings Inc. (NYSE: CHPT)
- Li Auto Inc. (NASDAQ: LI)
- FuelCell Energy Inc. (NASDAQ: FCEL)
- Ford Inc. (NYSE: F)
ChargePoint Holdings Inc.
ChargePoint is an EV infrastructure company that is based in Campbell, California. The company operates one of the largest online networks of independently owned EV charging stations. It has a strong leadership position in North America and a growing presence in Europe. The company has an established, capital-light business model with growth that is proportional to a rapidly growing EV market. CHPT stock is up by over 170% in the last year.
In June, the company announced the most comprehensive EV charging solution portfolio available for fleets of all types and sizes. From concept to scale, the company’s global fleet solution includes everything fleets need to electrify and optimize fueling as they grow. ChargePoint Express Plus is a scalable DC fast charging platform based on a software-defined DC hardware architecture that minimizes power conversion equipment costs needed per site. Given the impressive services and support that the company has, ChargePoint appears well-positioned for growth as the EV market continues to build up momentum. With that in mind, will you be buying CHPT stock now?
Li Auto Inc.
Li Auto is an electric vehicle manufacturer that is headquartered in Beijing. The company designs, develops, manufactures, and sells premium smart EVs. In essence, it is a pioneer to successfully commercialize extended-range electric vehicles in China. The company has over 90 retail stores covering 64 cities and boasts 167 servicing centers. LI Stock is up by over 85% in the last year.
Earlier in the month, the company provided its delivery update for June 2021. Diving in, the company announced that it had delivered 7,713 Li ONEs in June 2021, representing a 320.6% year-over-year increase and a new monthly high. As its Li ONE continues to gain momentum, the company’s new orders in June, which surpassed 10,000, also hit a record high. Total deliveries for the second quarter also increased by a commendable 166.1% year-over-year. For these reasons, will you add LI stock to your watchlist?
FuelCell Energy Inc.
FuelCell Energy is a renewable energy company that focuses on fuel cell technology. It delivers efficient and clean solutions for the supply, recovery, and storage of energy. It also develops and maintains megawatt-scale fuel cell systems for utilities, industrial and large municipal power users. FCEL stock has seen impressive gains of over 150% in the past year.
Last month, the company reported its second-quarter financials for fiscal 2021 and provided a business update. Revenue for the quarter was $14 million. The company also has a backlog of $1.32 billion. It also entered into a power purchase agreement for a 2.8-megawatt project in Derby, Connecticut, which contributed to $59.4 million of new Generation backlog. Impressively, the company also saw its annualized production rate increase and has a goal of achieving an annualized production rate of 45 megawatts by fiscal year-end 2021. All things considered, will you watch FCEL stock?
Another upcoming name in the renewable space now would be Ford Inc. Sure, most would not immediately think of this legacy automobile industry giant when discussing renewable energy. However, like most of its peers, the company is pivoting hard towards the EV industry amidst global green initiatives. Notably, it seems keen on becoming one of the leading names in the space. The company is currently planning to invest over $30 billion towards its EV divisions through 2025. Ideally, Ford hopes to electrify its entire portfolio by the end of the decade. More importantly, investors appear to be taking an interest in F stock thanks to the company’s shift in priorities.
Along with most EV names, the company’s shares have skyrocketed by over 220% since its pandemic era low. If anything, Ford appears to be gaining momentum on the operational front now. Last week the company announced its China sales figures for the first half of 2021. In it, Ford saw sales of its Lincoln luxury vehicles surge by 111% year-over-year. To highlight, the current demand for Ford’s Lincoln automobiles is yet another positive sign for the company. With Ford looking to launch its fully electrified Lincoln EV in 2022, we could be looking at exciting times ahead for the company. Would you say the same for F stock now?