Which Energy Penny Stocks Should You Add to Your Watchlist?
Penny stocks involved in the clean energy industry have received heightened attention with the recent emphasis on renewables. In the last few years, many penny stocks have shifted their focus to reducing carbon output as a way to stay current with the times. This has benefitted clean energy penny stocks in a big way. The need for cleaner energy has been a problem for several decades now, but only recently have political and economic actions began to take shape.
In early 2021 President Joe Biden released his plans for clean energy and sustainability. The goal of his plan is to achieve net-zero emissions by 2035. The countdown has already begun for when these plans will go into effect, and because of this, there is a strong need for new and more efficient infrastructure to back it.
This year, the President signed an executive order this year to fight the climate crisis in the U.S., and participate in carbon-reducing actions worldwide. For example, the Administration is taking the initiative to replace government automobiles with zero-emission electric vehicles.
This may not sound like much, but we have to consider the fleet of hundreds of thousands of vehicles that the government has to update. It is an enormous effort that shows how serious the government is about achieving lower emissions.
[Read More] 4 Penny Stocks For Your April Watch List As Energy Sector RechargesWhile the objective of achieving net-zero carbon emissions may seem lofty, the President is taking swift actions to ensure we get there as soon as possible. Due to the plans already in place, many clean energy penny stocks have been climbing in the past few months.
Whether you’re talking about solar penny stocks or other renewable energy stocks, there are many to keep your eyes on in April. The biggest question at hand is which clean energy penny stocks are worth watching right now?
Clean Energy Stocks To Watch
- Torchlight Energy Resources Inc. (NASDAQ: TRCH)
- Fuel Tech Inc. (NASDAQ: FTEK)
- Ideanomics Inc. (NASDAQ: IDEX)
Torchlight Energy Resources Inc.
Torchlight Energy Resources has been on many investors’ top penny stocks to watch under $2 list in 2021. Since the new year started, TRCH stock price has increased by 148%. TRCH stock may be at $1.69 per share on April 22nd, however, in February, it touched as high as $4.83 per share. If you have not yet heard of Torchlight, let’s get you up to speed. Torchlight is a company that acquires, explores, and develops oil and gas properties in the United States.
Now you may be wondering why TRCH stock is up 11% on April 22nd. Torchlight has not released recent updates or filings that would cause this, so we have to dig a little deeper to find an explanation. One of the main reasons is its correlation to the oil and gas industry. This industry as a whole has risen up in value over the past few weeks; which could explain TRCH’s recent bullish rise.
Last week Torchlight stock moved lower presumably on the announcement of an extension of a shareholder meeting. Because it has to complete several regulatory requirements, Torchlight ended up announcing this extension to its investors. While this was not the most positive news at the time, we have since seen shares of TRCH begin to climb once again.
Fuel Tech Inc.
Fuel Tech is a company with a lot of interesting prospects in the works. For some context, it provides air pollution reduction, efficiency improvement, and more, to utility and industrial customers. This technology is very useful to corporations looking to lower their carbon footprint, as well as governments with the same goal.
Currently, Fuel Tech has a large focus on its Dissolved Gas Infusion (DGI) business. In January it completed a six-week demonstration at a municipal wastewater treatment facility. The goal was to show just how viable DGI can be as a wastewater treatment option. In Q2 of this year, it will be supporting the second demonstration of its groundbreaking technology.
[Read More] Penny Stocks, What Are The Current Market Trends That Investors Should Watch For?One of the major benefits of DGI is in reduced power consumption and lower operating costs. It is targeted at companies that focus on power generation, oil & gas, and paper. Because of its benefits, companies can use it to greatly lower costs and raise efficiency.
“As we continue through 2021, our objective is to advance the development and commercialization of this technology, which will include the design and fabrication of higher capacity DGI equipment delivery systems that we believe will be necessary to address the needs of the majority of our end markets.”
President and CEO of Fuel Tech Vincent J. Arnone
This progress must have interested investors, as on April 22nd, FTEK stock has moved up over 1.3%.
Ideanomics Inc.
While IDEX has seen a correction in the past week or so, in the last two days, Ideanomics has started to increase in value. This price increase is driven by a few recent announcements made by the company. Ideanomics’ main goals include the adoption of electric vehicles and clean energy consumption.
The company made great strides towards its electric vehicle adoption goals on April 14th. A subsidiary of Ideanomics, Tree Technologies Sdn Bhd has penned a deal to supply 200,000 electric motorbikes to Indonesia. A minimum of 10,000 units will be delivered this year, with that number going up to 90,000 next year, and then 100,000 by 2023. This $274 million deal will be huge for Tree Technologies’ growth as a company, thus helping Ideanomics as well.
This is not all the updates for Ideanomics, as it has several projects that are currently going on in its pipeline. On April 21st it invested in hoo.be, a social site that provides influencers, celebrities, and businesses a single place to access all of their official social media platforms. This investment includes Ideanomics selling its subsidiary, Grapevine Village to the company. FNL is acquiring 100% of Grapevine Logic from it, and Ideanomics will get 20% of FNL in return.
[Read More] Top Penny Stocks Today? 3 Cheap Stocks to WatchThere is a lot more on the way in relation to updates from Ideanomics. On May 17th the company will hold its 2021 first-quarter financial results conference call. Ahead of this, we’ve seen some exciting price action with IDEX stock. From April 21st to April 22nd, IDEX stock price has increased by 16%. Because it has so many business opportunities going on simultaneously, IDEX could be an interesting penny stock to watch. In addition, the large price increase mentioned above could indicate overall bullish sentiment surrounding the company.
