Green Energy Penny Stocks Are Hot Right Now
A new president has come into office, bringing attention to specific penny stocks today. While many sectors are likely to gain attention, none have received more than green energy. The months leading up to the election and the months leading to the inauguration have seen mounting speculation on the future of green energy stocks. One of the core initiatives of the Biden Administration is to focus on climate change. A key focus, in particular, has been on advancing the development of things like alternative energy and even electric vehicles.
Joe Biden will make the largest investment in history in American innovation – including research and innovation to unlock and deploy new zero-carbon technologies for the future, create stable, well-paying jobs across the U.S., and make zero-carbon technologies the most cost-effective and scalable way to meet our country’s energy needs.
This is a statement directly from the President’s own website. He also aims to create 10 million clean energy jobs. The Biden plan will include investing $400 billion over ten years. So with an obvious message to the market, it makes sense that traders and investors are looking for energy penny stocks to buy right now. Just like the booming EV space we’ve discussed in the past, it’s not just energy companies that are in focus. It’s everything within the supply chain itself. With this in mind, here are 3 that are trading under $4 right now. Will they be on your list of top penny stocks to buy?
Green Energy Penny Stocks To Buy Under $4
- American Battery Metals Corp. (OTC: ABML)
- Ocean Power Technologies Inc. (NASDAQ: OPTT)
- Torchlight Energy Resources, Inc. (NASDAQ: TRCH)
American Battery Metals Corp.
Speaking of green energy and electric vehicles, American Battery has been on our list of electric vehicle penny stocks to watch for weeks. Since mid-December, ABML stock has climbed from under $0.40 to over $2, thanks to speculation on the EV space. And while there haven’t been many new headlines, there is plenty to look at for potential catalysts. One of these is the company’s expansion plans. There’s a proposed name change in the works to American Battery Technology Company in line with this.
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For some context, the company has extensive mineral resources in Nevada. It also focuses on recycling lithium-ion batteries. Late last year, American Battery announced several updates on milestones it achieved as it continues its plan of opening a pilot lithium-ion battery recycling plant in Nevada. The land has been purchased, water rights were secured, and a construction firm was brought on.
Something to keep in mind is that the permitting process is being finalized. According to the company, it expects to announce updated timelines in “early 2021”. So considering the timing of this and the current state of EV-related stocks, along with Biden’s push for a green energy future, will ABML continue pushing new highs this month?
Ocean Power Technologies Inc. (NASDAQ: OPTT)
Similar to American Battery, Ocean Power Technologies isn’t very boisterous on its newswire. However, the company has made a point to have a voice on Twitter. Last year and now this year, tweets have become more of a catalyst than anything else. Updates on things like the company’s PowerBuoy® platform have helped breed upbeat sentiment among traders. The platform uses the power of things like ocean waves to create usable energy sources for offshore applications.
Last month was a bigger month for headlines that helped propel OPTT shares higher. The company contracted SeaTrepid International to deploy one of Ocean Power’s PB3 PowerBuoys and an oceanographic monitoring system off the Chilean coast. This was the first third-party installation of a PowerBuoy, according to Ocean Power.
In the company’s Fiscal Q2 2021 earnings update, George H. Kirby, President, and CEO of OPT, explained, “We are seeing long-evolving projects come to fruition with two recent PB3 PowerBuoy®-related contracts with ACET and DeepStar. Our expanded sales footprint, coupled with our product and solution suite and cash balance, positions OPT to be able to deliver on anticipated market demand.”
With this sales strategy in mind, will 2021 continue to see strength from Ocean Power?
Torchlight Energy Resources, Inc. (NASDAQ: TRCH)
If you’ve followed Torchlight over the last year, you might be wondering why it’s on a list of green energy penny stocks. The reason behind that has to do with a major transition that Torchlight began undertaking late last year. The historically oil & gas-focused company turned over a new leaf. In November, the company and Metamaterial extended an existing LOI to work toward a definitive merger agreement. Fast-forward to December, and an agreement was officially signed.
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What makes this a green energy play is Metamaterial’s business. Following a formal tie-up, the company effectively becomes one that manufactures performance functional films. The films are used in several applications, including cleantech energy like solar. But outside of solar, there are plenty of other industries that can utilize Metamaterials. These include aerospace, medical, and even automotive solutions like heads up displays and transparent antennas.
Torchlight (Metamaterials) is now on the list of green energy stocks to watch with this new direction.
Are Green Energy Penny Stocks On Your List Right Now?
We’ve discussed green energy and ESG penny stocks for months. The crazy part is that many of the popular names aren’t in our articles lately. This isn’t because they’ve done poorly. It’s because they’ve climbed so much that they aren’t penny stocks anymore. Whether it was some of the early crop of electric vehicle penny stocks and solar stocks, or the alternative energy companies discussed late last year, the sector is hot. With obvious hype remaining a catalyst and the incoming President’s plan, are green and alternative energy stocks part of your 2021 strategy?
No matter what you decide, it’s always good to keep an eye on market trends. Sometimes they end up cooling off for a period of time. But when they heat back up again, you might want to have a watch list put together, as we’ve recently seen with some of the hydrogen cell stocks this week. These had been on the back burner while other energy names took the spotlight. But it looks like things have warmed back up, which has also helped spark more interest in the green energy trend right now.
