Six Renewable Energy Stocks to Watch: PLUG, ENPH, VKIN, EVGO, BE, ON

As the world continues to struggle with its finite resources, it is no wonder that the sustainability movement is gaining more traction than ever. More and more governments have tweaked their policies in order to promote renewable energy ventures and it is believed that in the coming decades it is going to be one of the more interesting opportunities for investors. While it is true that reversing years of fossil fuel dependence is going to take its time and is expected to be quite costly, there are many companies that are determined to work towards that particular goal.

There are now plenty of companies that are on the radars of Wall Street as well as a younger generation of investors who are committed to a sustainable future. That being said, it is also true that eventually not all of these companies are going to turn into a success, and hence, investors need to be quite selective with their choices in this regard. This article looks into a range of companies in the renewable energy sector that could eventually end up being significant players and also unlock value for its shareholders in the long run.

Viking Energy Group Inc (OTCMKTS:VKIN): There are a number of companies in the sector that get a lot of attention every day but if you are looking for a potential hidden gem ten it is the Viking Energy Group Inc stock. One of the biggest reasons why the stock may not get as much attention is because of the fact that it trades on the OTC and such stocks do not get a lot of traction from the financial media.

Viking is majority-owned by oil company Camber Energy Inc, which is listed on the New York Stock Exchange, and currently, it is working on a range of projects that make it one of the most interesting renewable energy companies in the industry.

For instance, yesterday the company was in the news once again after it announced that back on February 9 it had managed to pick up 51% interests in a pair of entities that own intellectual property in the field of Electric Transmission and Distribution Open Conductor Detection Systems.

The intellectual properties in question have been developed fully and ready for the market but are currently at a patent-pending status. The price for the pair of deals can go up to as much as $21,000,000 but out of that, $5,000,000 can be paid out in the form of Viking shares. Investors could do well to keep an eye on further moves from Viking Energy Group.

Plug Power (NASDAQ:PLUG): Last month the Plug Power stock had tanked after the company announced that it expected its revenues for 2022 to be in the $900 million to $925 million range. While investors expressed their disappointment, Colin Rusch of the firm Oppenheimer’s had a different view of the situation.

He stated that it indicated that the company was maturing and with as much as around $4.5 billion in its books, considerable experience in the industry, and a gifted management team, Plug Power could be on its way towards presenting a sound long term opportunity.

EVgo (NASDAQ:EVGO): The next one to possibly put into your watch list is the EVgo stock. Earlier on in the month, the policies of the Federal Reserve and a not too flattering note from the firm Needham had tanked the EVgo stock. However, many believe that it was a market overreaction. EVgo operates the biggest fast-charging network meant for electric vehicles in the United States and that is a market that is only going to grow in the coming years as the nudge for the sustainable future gathers steam.

Enphase Energy Inc (NASDAQ:ENPH): Last week, the company said that it earned $52.6 million, or 37 cents a share in the fourth-quarter, down 28% from a year-ago quarter. On an adjusted basis, the company earned 73 cents a share Revenue during the quarter grew 56% year over year to $412.7 million. Analysts were projecting the company to report 57 cents a share on revenue of $403 million.

Bloom Energy Corp (NYSE:BE) reported higher-than-estimated quarterly revenue. The company had a loss of $33 million, or 19 cents a share, in the fourth quarter, improved from $52 million, or 30 cents a share, in the year-ago quarter. On an adjusted basis, Bloom lost 5 cents a share. Revenue rose 37% to $342.5 million. Analysts were projecting the company to report a loss of 3 cents a share on sales of $309 mi

ON Semiconductor Corp (NASDAQ:ON): Last but not least, ON Semiconductor Corp is a renewable energy stock that could also be watched by investors. Earlier this month the company announced that it had managed to bring in earnings of $1.09 a share and that proved to be higher than analysts’ estimates of $0.94 a share. That proved to be a significant earnings surprise and may prove to be a trigger for the ON Semiconductor stock among investors over the medium term.

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