Top Energy Penny Stocks To As May Approaches
Penny stocks have continued to grow in popularity as investors search for cheap stocks to buy. The term “penny stocks” applies to stocks trading under $5 per share. These cheap stocks allow investors to find stocks that could have higher volatility, and thus, larger changes of seeing intraday swings
There are a few differences between blue-chips and penny stocks that can help when it comes to finding a penny stock to watch. For example, volatility is something we see at a much higher rate with stocks under $5 than with those above this price range. Because risk is common with penny stocks, some investors avoid them due to their investing style. However, there are a few ways to use risk to your advantage.
When investing in penny stocks, putting together a research strategy is very important. Another way to understand this is to look for current events going on in the world, and consider how they will affect a given market.
Additionally, investors should understand a company’s financial situation. This includes looking at balance sheets, corporate filings, and any other information you can find. With this information, it’s much easier to paint a complete picture of a potential penny stock to watch.[Read More] Penny Stocks to Buy Under $2 On Robinhood, Are They Worth It?
Since Joe Biden outlined his plan for sustainable infrastructure and equitable clean energy, many energy penny stocks have climbed in value. Biden wants to place the United States on an “irreversible path” to achieve net-zero emissions by 2035. For example, The President wants to generate as much as 30 gigawatts of electricity from offshore wind farms by 2030. While this is a lofty goal, achieving it would be a major milestone for the renewable energy game plan.
For these reasons, many energy penny stocks have been climbing in the past few months. While the goal of being carbon neutral by 2035 may seem out of reach, it is more than achievable if the proper steps are taken. With all of this in mind, let’s have a look at the top energy penny stocks to watch this week.
Top Energy Penny Stocks To Watch
- SunHydrogen Inc. (OTC: HYSR)
- American Battery Metals Corporation (OTC: ABML)
- Ocean Power Technologies Inc. (NASDAQ: OPTT)
1. SunHydrogen Inc.
This first company on this list is considered to be a pure-play energy penny stock. SunHydrogen develops low-cost, breakthrough solutions to utilize renewable hydrogen with sunlight and water. Hydrogen fuel produces water as the only byproduct which completely aligns with the goal of moving toward renewables.
Hydrogen energy is made through the electrolysis of nanoparticles. These nanoparticles use photosynthesis to separate hydrogen from water. While this is oversimplified, it should help to identify the potential of using hydrogen power as an energy source. Considering this, why is HYSR stock worth watching right now?
In 2021, SunHydrogen has done a lot that is helping to bring in bullish sentiment. Throughout the year, Sunhydrogen has continued to engage in several advancements that could make it a penny stock to watch. It started back in February when the company announced a $10 million registered direct offering for over 95 million shares.
On March 11th, SunHydrogen announced the launch of a project with the German design company, SCHMID Group to develop a GEN 2 manufacturing process platform to create more efficient hydrogen panels. Only a few days later, it announced that the company InRedox would be producing material components needed for this GEN 2 manufacturing development.[Read More] Best Penny Stocks To Buy As Cryptocurrencies Boom? 3 To Watch In 2021
According to the Technology Director for SunHydrogen, “InRedox has the expertise and insight via their decades of experiences in scaling up the electrochemical anodization process to both support and expedite the development process for SunHydrogen.”
Aside from appointing a new COO, the company has not put out any major news since March. Despite this, HYSR stock is seeing a lot of positive momentum right now. One cause for this could be the recent hype surrounding the energy industry. Considering that renewable energy is the future, HYSR stock could be worth watching.
American Battery Metals Corporation
When speaking about energy penny stocks, we have to consider companies working in the battery technology industry. Current battery solutions for everything from electric vehicles to solar storage are incredibly inefficient and cost-prohibitive. While companies are working to change this, there is still a lot that needs to be done.
American Battery Metals Corporation, up by around 32% on April 21st, is a lithium-ion battery recycling and battery metal extraction company. Recently, the company has been working with the Department of Energy to respond to its call for “Risks in High-Capacity Batteries, Including Electric Vehicles Batteries Supply Chain.” American Battery Metals responded with plans to address geopolitical risk, climate risks from old recycling methods, and lack of collection and transport infrastructure.
The company has proposed a plan to create a new non-waste classification category for lithium-ion batteries, separate from hazardous waste designation. The goal of this is to improve environmental outcomes. Its other solution is to offer states the tools needed to store, transport, and recycle batteries in an efficient and environmentally friendly way. Also of note is that the company will be presenting at several upcoming investor conferences regarding its progress. Keeping this in mind, ABML could be worth watching moving forward.
Ocean Power Technologies Inc.
Ocean Power Technologies is another interesting energy penny stock. If you’re not familiar, OPTT develops and commercializes systems for generating electricity using the power of ocean waves. This is a power source that has been around for decades, however, little work has been done to make it widespread. While a few countries have capitalized on hydroelectric power, the technology remains vastly underutilized.
A few weeks ago, the company announced the acquisition of 3Dent Technology. In addition to this, it planned its first OPT PowerBuoy deployment which is a major step in the commercialization of its technology. Lastly, OPTT strengthened its liquidity position through a sizable $80.4 million increase in free-flowing cash. So while it hasn’t posted any announcements in the past month or so, it looks like Ocean Power has a lot going on in its pipeline.
One of the major reasons for the increase in attention to renewable energy penny stocks is the influence of retail traders. Let’s consider the fact that platforms like Robinhood typically attract a much younger crowd than traditional brokerages. And, those under 30 or so are much more likely to be renewable energy-focused than those above this age range. While this doesn’t explain all of the momentum seen with OPTT stock, it could help to explain some of it.[Read More] 4 Penny Stocks On Robinhood To Buy Under $1; 50%-270% Price Targets
In the past year, shares of OPTT stock have shot up by over 500%. While shares of the renewables company have trended down in the past month or so, it looks like OPTT could have an exciting future. Considering this and its long-term prospects, will Ocean Power be on your penny stock watchlist?