What Could These 3 Clean Energy Penny Stocks Offer Investors?
clean energy penny stocks have been on a tear ever since President Biden outlined his green energy & infrastructure plans on the campaign trail. For this reason, many investors are looking for the most promising clean energy penny stocks to watch right now.
“Alternative energy stocks have undergone a correction…but the fundamentals remain very good, and arguably got better with the unveiling of the Biden infrastructure plan, so we think the pullback presents a buying opportunity broadly.”
JPMorgan Analysts This Week
In the $2 trillion plan, hundreds of billions of dollars will be funneled into making the U.S. clean energy reliant within the next few decades. Because current infrastructure is not capable of this, there is a lot of potential in the future to find burgeoning clean energy companies.
Since there are so many to choose from and plenty of ancillary niches to monitor, it could be daunting to make a watchlist right now. It’s important to consider both the financials and what the company is doing in the long term. You should also consider if companies are currently working on a commercial strategy or still in the early developmental stages. Ideas are great, but physical products & executable services are obviously better. With all of this in mind, here are three clean energy penny stocks for your watch list right now.
Clean Energy Penny Stocks to Watch
Hudson Technologies Inc.
Hudson Technologies makes industrial products used in everything from commercial air cooling to refrigeration. This includes the production of refrigerants, industrial gasses, system decontamination, and more. It utilizes its Zugibeast System, which is a portable device used in on-the-go maintenance of critical services. You might be thinking, “Well, what does this have to do with clean energy?”
The answer is that refrigerant is a well-known greenhouse gas. Knowing this, Hudson is working to build out a platform that is less harmful to the environment. A few months ago, it announced a partnership with Bluesource, a carbon offset development leader, to reduce emissions associated with HFC refrigerants.
These refrigerants are found in industrial, commercial, and residential HVAC systems and almost any device that uses refrigerants. The pair aim to produce less environmentally harmful and more economical HFC refrigerants. On the financial side, Hudson Technology reported a Q4 2020 EPS of $0.11, which is an increase YoY of 56%.
Additionally, revenue came in at $22.11 million for the period, which is a decline of 14% over the previous years’ same period. This data shows that Hudson Technologies’ business is growing, but it has been affected by the pandemic. If Hudson can work to reinvent the refrigerant market, it could be a game-changer for the company. Will it be on your list of penny stocks to watch for April?
Ideanomics is a penny stock that we’ve covered for the past several months. On April 7th, a tweet came out from the company detailing its newest 100% electric, zero-emissions busses. Upon this news dropping, shares of IDEX instantly popped during early morning trading. But besides this speculative gain, Ideanomics has a lot going on. For those who don’t know, Ideanomics facilitates the adoption of commercial electric vehicles around the world. It also offers fintech services for the purchase of these vehicles and products related to them.
Its Ideanomics Capital business provides AI and blockchain-powered financial solutions for a more energy-efficient world. In its full-year financial report posted a few weeks ago, IDEX showed a great deal of growth in its EV division. During 2019, electric vehicles only made up around $2.7 million of its revenue.
In the 2020 report, that number shot up to almost $20 million. This is a more than 600% increase in only one year. In addition, Ideanomics ended the year with more than $166 million in cash on hand.
Alf Poor, CEO of Ideanomics, stated that “we are very pleased with the transformation that took place this past year. Despite a year highlighted by Covid-19, we were able to build the groundwork for 2021 and beyond for Ideanomics, and we are excited for what the future holds with our recent activity across the EV ecosystem and developments in EV charging infrastructure.”
While the adoption of EVs on a larger scale will take some time, IDEX has a long-term plan to get there. All things considered, it could be one of the clean energy penny stocks to watch right now.
Sunhydrogen is a more pure-play clean energy stock. It develops breakthrough, low-cost solutions to utilizing renewable hydrogen with sunlight and water. Compared to hydrocarbon fuels (fossil fuel), hydrogen fuel produces water as the only byproduct. This is done through the electrolysis of nanoparticles that use photosynthesis to separate hydrogen from water, thus creating a renewable energy source. A few weeks ago, Sunhydrogen announced that U.S.-based InRedox would produce materials needed to manufacture its GEN2 product. InRedox is a producer of electrochemically-assisted materials that can be used in scalable and diverse operations.
Dr. Joun Lee, Technology Director at Sunhydrogen, stated that “InRedox has the expertise and insight via their decades of experiences in scaling up the electrochemical anodization process to support and expedite the development process for Sunhydrogen Inc.” Lee goes on to state that “we are focused on improving the efficiency and reducing costs across each step of the development process and ultimately supply chain.”
With this partnership, Sunhydrogen should be able to commercialize its technology further. Again, it should take some time before the widespread use of hydrogen is seen. However, this is a notable technology that should not be ignored while the conversation on clean energy is heating up. Considering all of this, HYSR could be worth watching.
Clean Energy Penny Stocks Shine In 2021
Despite the daily ebb and flow of the markets, certain industries are gaining attention. Clean energy is clearly one of them. While there’s still a long road ahead to go fully carbon neutral, sentiment remains upbeat, focusing on alternatives from fossil fuels. With infrastructure spending picking up, the clean energy industry and stocks within it could be interesting to watch this year.