Check out these 3 popular clean energy stocks in the stock market right now
Clean energy stocks are among the recent sectors that have gained momentum in the stock market Currently. With the world becoming more aware of the need to protect the environment, clean energy is becoming more and more important. Clean energy is energy that comes from sources that do not pollute the environment, such as wind, solar and hydropower. One of the biggest advantages of clean energy is that it is renewable, which means it will never run out. In addition, clean energy does not produce greenhouse gases, which are a major cause of climate change. As more countries start switching to clean energy, we can expect to see more investors turning their attention to it Top clean energy stocks.
At the same time, there are many companies that are making strides in the broader field of clean energy as well. In particular, we can take a look at the electric vehicle (EV) industry today. As governments around the world look to lower overall carbon emissions, electric vehicles have gone mainstream. This is evident with names like Tesla (NASDAQ: TSLA) and charge point (NYSE: CHPT).
With the growing awareness of the need to move to clean energy sources, many investors are turning to clean energy stocks as a way to take advantage of this growing industry. Overall, there seems to be a lot of hype surrounding the clean energy industry at the moment. Could that make these clean energy stocks the biggest stocks to watch in the stock market today?
Purchasing clean energy stocks [Or Sell] Currently
Plug Power Company
First, let’s take a look at a leading clean energy company power plug (Plug). The company is a complete solutions provider for hydrogen fuel cell. Plug Power focuses on proton exchange membrane (PEM) fuel cells, fuel processing technologies, and fuel/battery hybrid technologies. Apart from that, they manufacture and sell fuel cell products to replace batteries and diesel generators in stationary standby power applications.
On Thursday, PLUG shares jumped 22.93% to $21.12 per share. This gathering comes on the heels of a surprising agreement in Congress. In the agreement, they committed nearly $370 billion to the alternative energy industry to help fight climate change. Then, Plug recently announced that it had been awarded a contract to deliver a 5-megawatt electrolyzer from leading Canadian energy company Irving Oil.
“Demand for green hydrogen is growing as companies that have relied on other forms of hydrogen realize the feasibility of achieving zero-carbon goals,Andy Marsh, CEO of Plug. “Driven by our leading-edge electrolyzer technology and unparalleled manufacturing capability, we are honored that Irving Oil has chosen Plug to support its initial investment in electrolytic hydrogen production. We are looking forward to expanding the partnership.Given all of this, is PLUG on your list of clean energy stocks to keep an eye on right now?
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Sunrun . Company
After that, we have Sunrun, Inc. (Being). The company is a leading manufacturer of solar home energy and battery storage. Sunrun’s innovative home battery solution continues to provide affordable, flexible and reliable power to its customers. For context, Sunrun has more than 700,000 customers and has its services available in 22 states in the US Through its network, Sunrun integrates solar, storage, electricity and virtual power plants into a smart solution for homes and communities.
On Thursday afternoon, RUN shares rose 27.11% to $30.24 per share on the back of the aforementioned recent news. Going forward, the company recently announced that it celebrated its 15th anniversary leading to America’s residential energy transition. Through the company’s solar-as-a-service business model, it provides millions of Americans with a variety of solar energy products. This means that consumers can switch to clean energy at the lowest upfront cost. The company also announced that it will report earnings for the second quarter of 2022 after the market closes on August 3.
Mary Powell, CEO of Sunrun says, “At a time when the cost of energy is increasing in double digits across the country and the devastating effects of climate change becoming ever more severe, we are offering customers something that utilities simply cannot do: energy independence, convenience, and security. Americans want a more reliable, clean, and affordable energy future, meeting Sunrun call to action.” All in all, do you have RUN on your watchlist right now?
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Enphase Energy Inc
In third place, we have one of the world’s leading energy technology companies, Enphase. The company is a supplier of micro inverter based solar energy systems. As a result, its clients were able to harness the sun to make, sell, and control their own power. In fact, Enphase is now working on multiple fronts simultaneously. Apart from microinverters, the company has now expanded its offering to include batteries. The company is also collaborating with Upstart Power to integrate fuel cells into its batteries and microinverter systems. ENPH shares are up more than 4% during Thursday’s trading session at $266.90 per share.
Going forward, Enphase recently announced a dividend for its financial earnings for the second quarter of 2022. In detail, the company reported earnings of $1.07 per share on revenue of $530.2 million. As against, it estimates consolidated earnings of $0.82 per share on revenue of $504.0 million. Looking ahead, the company stated that it estimates third-quarter revenue from $590.0 million to $630.0 million. For context, Wall Street’s current revenue estimate is $545.77 million for the quarter. With positive industry news and stronger-than-expected earnings, is ENPH on your radar?
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