Are These The Top Renewable Energy Stocks To Watch Ahead Of February 2021?
Over the past few years, renewable energy stocks have become rising stars on the stock market. The fact that most of the best renewable energy stocks remained strong throughout 2020 speaks volumes. While the broader energy industry is still recovering from the March lows, top renewable energy stocks are hitting new all-time highs. Yet, investors are still flocking towards the industry right now. This is thanks to political and environmental tailwinds that point towards more growth down the line. Namely, as global temperatures continue to rise at alarming rates, nations around the globe are accordingly turning towards green initiatives.
We can see that investors are well aware of all this. Evidently, some of the best renewable energy stocks have exploded in value over the past year. Sunpower (NASDAQ: SPWR) and Enphase (NASDAQ: ENPH) are looking at gains of over 500% in the past year. From these two, you can tell that things in the solar energy industry have already begun to heat up. Notably, Joe Biden’s administration is pledging to invest $2 trillion into the clean energy industry over the next four years. The best part is that clean energy is not just limited to solar energy. Whether it is different types of alternative energy or refinements to existing clean energy tech, there are plenty of points of entry into the market still.
If you have read till this point you might be curious to know more. Well, most investors would be keen to invest in this growing industry. As the world transitions towards a sustainable future, could these be the top renewable energy stocks to watch in the stock market today?
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Best Renewable Energy Stocks To Watch Right Now
- Aemetis (NASDAQ: AMTX)
- Orbital Energy Group (NASDAQ: OEG)
- VivoPower International (NASDAQ: VVPR)
Aemetis is a California-based advanced renewable fuels and biochemicals company. Its development pipeline is focused on the reduction of carbon intensity. More importantly, AMTX stock came out the gate strong this week, doubling in share price yesterday. This activity does line up with Aemetis’ recent announcement late last Friday.
In detail, the company revealed that its Carbon Zero biofuel production process received a government grant worth $16.8 million. The grant for solar and other energy efficiency projects will fund upgrades towards a California plant. Aemetis’ Carbon Zero plants function to convert carbon feedstock and renewable energy into biofuels. Adding to that, it also expects its renewable fuels to be viable for use in hybrid electric vehicles. Not only is this deal good in the short term, but it also shows that the government supports its mission to reduce greenhouse gases. Considering Biden’s green initiatives, AMTX stock could be in a good position for the foreseeable future. That is if Aemetis plays its cards right.
In its recent quarter fiscal posted in November, the company saw $40.9 million in total revenue. Additionally, it also saw a 216% increase in biodiesel metric tons sold quarter-over-quarter. On top of all that, its Aemetis Health Products section began production of sanitizer products during the quarter. Given the resurgence of COVID-19 cases in the U.S., the company is making a strategic play indeed. Aemetis seems to be firing on all cylinders for now. Could this mark the beginning of another great year for AMTX stock? Your guess is as good as mine.
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Orbital Energy Group
Following that, Orbital is another renewable energy player in focus this week. The company is working towards creating a diversified energy services platform. Orbital’s group of businesses include its gas systems, power services, and solar services. With such a broad renewable energy portfolio, Orbital appears poised to make the most of industry tailwinds. In fact, OEG stock closed yesterday’s trading session with gains of 59% after an update from its solar subsidiary.
Before the market opened, it was announced that Orbital Solar Services (OSS) was selected for the Black Sunrise Half Century Fund. OSS was named as the official engineering, procurement, and construction (EPC) company at President Biden’s “Clean Energy for America” Inaugural Ball. It will be collaborating with Akon Lighting America in this endeavor to decommission coal-powered plants throughout the U.S. Moreover, the duo will also work towards converting them into utility-scale solar energy farms. According to the announcement, OSS will start its full EPC work in the second quarter of 2021. CEO Jim O’Neil said, “These utility-scale projects, along with planned follow-on developments will enhance our presence in the renewable/alternative energy marketplace well into 2021 and beyond.” If anything, this bodes well for Orbital in general as it is now involved in a nationwide project. With this in mind, I can see why investors were flocking to OEG stock.
Aside from this, the company has also been doing well financially. It reported solid figures in its third-quarter fiscal back in November. This included year-over-year jumps of 124% in total revenue and 134% in cash on hand. The company cites its growing solar engineering and power services divisions as key contributors to this growth. All things considered, will you be adding OEG stock to your watchlist?
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VivoPower is an international renewable energy tech company. It is involved in the fields of battery tech, electric vehicles (EVs), and even solar and critical power services. Ultimately, the company’s core focus is on providing sustainable energy solutions for its clients. Just yesterday, VVPR stock popped by over 28% on account of a recent agreement it signed earlier in the day.
VivoPower announced that it closed a $250 million agreement with Australia-based GB Auto Group. Through the agreement, GB will become the exclusive distributor of VivoPower’s Tembo Toyota EV conversion kits in Australia. According to the report, it is the biggest deal for EVs in the Australasian region to date. The technical collaboration will take place over a seven-year timeframe. Furthermore, VivoPower will be the prime choice for the financing, construction, and maintenance of Tembo products involved in this deal. This provides VivoPower with income for the foreseeable future while it expands its operations in Australia as well. Investors appear to think it is a great play judging from VVPR stock’s performance yesterday. Would you say the same?
In its recent annual report, the company posted a record annual revenue of $48.7 million. On top of that, VivoPower also reported a 28.4% year-over-year rise in gross profit to the tune of $7.8 million. I’d say VivoPower has shown its resilience, seeing as it has weathered the pandemic quite well. Moving forward, CEO Kevin Chin said, “Strong tailwinds continue to support a positive outlook across our businesses, and we are delivering on work delayed from last fiscal year as well as gaining new customers.” Chin also mentioned that the company would be working on bolstering its EV division which seems to be doing well. Do you think all this makes VVPR stock a top renewable stock to watch?