Seven green stocks that may give a leg-up to the sector in 2022

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 Seven green stocks that may give a leg-up to the sector in 2022
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Highlights

  • Green stocks are companies that offers climate-friendly products and solutions.

  • On Nov 9, Itron, Inc. (NASDAQ: ITRI) launched Itron Smart Pay, a SaaS program to reduce energy usage.

  • Bloom Energy Corp (NYSE: BE) is working on producing renewable energy from cow manure.

Green stocks are companies that produce various climate-friendly products and services. For instance, these firms provide waste reduction solutions, clean or renewable energy, transportation, etc. The sector received a major boost after Biden set the zero-emission targets.

Here we discuss seven green energy stocks that might be worth exploring.

Itron, Inc. (NASDAQ: ITRI)

The Washington-based company provides solutions to measure, manage, and analyze energy and water use. The technology company offers the Industrial Internet of Things (IIoT).

Seven green stocks that may give a leg-up to the sector in 2022

Its solutions include software deployment, services, smart networks, sensors, and data analytics to help customers manage their business efficiently.

Its revenue was US$487 million in the September quarter of 2021 compared to US$540 million in the comparable period in 2020.

The net loss was US$1.87 million or US$(0.04) per share diluted compared to a net loss of US$25.3 million or US$(0.63) in the year-ago quarter. 

The company was founded in 1977 and brought IPO in 1993. Its current market capitalization is US$3.3 billion, and its P/E ratio of 1221.68. 

On Nov 9, the company launched Itron Smart Pay, a Software as a Service (SaaS) program to help customers reduce energy usage and save money through flexible billing options.

The ITRI stock fell 23.27% YTD. It closed at US$73.30 on Nov 9, 2021.

Also Read: Top oil and gas stocks to explore in November

Seven green stocks to explore.

Source – Pixabay

Also Read: Top EV stocks to explore as nations set emissions reduction target

Enphase Energy, Inc. (NASDAQ: ENPH)     

The Fremont, California-based energy technology company offers smart and easy-to-use solutions for the solar industry. Its platform helps manage solar generation, storage, and communication in one place. 

The company has shipped over 39 million microinverters by the end of the September quarter. In addition, it has deployed around 1.7 million Enphase systems in nearly 130 countries.

For the September quarter, the revenue was US$351 million compared to US$179 million in the same period of the previous year.

Its net income decreased to US$21.8 million or US$0.15 per share diluted compared to US$39.3 million or US$0.28 per share diluted in the corresponding period of 2020. 

The company was founded in 2006 and brought IPO in 2011. It has a market capitalization of US$32 billion and a P/E ratio of 206.39. 

Its stock grew 33.59% YTD. It closed at US$239.39 on Nov 9, 2021.

Also Read: Explore five hot growth stocks with robust YTD return

FuelCell Energy, Inc. (NASDAQ: FCEL)

The company provides sustainable clean energy technologies. The Danbury, Connecticut-based company manufactures fuel cell technology products and solutions for businesses, governments, and municipalities. 

For the quarter ended July 31, 2021, the revenue was US$26.8 million, and net loss attributable to common shareholders was US$12.8 million or US$(0.04) per share diluted.

The revenue and net loss for the July quarter of 2020 were US$18.7 million and US$16 million, respectively. The company was founded in 1969 and brought its IPO in 1992. It has a market capitalization of US$3.9 billion. The stock fell 2.81% YTD. It closed at US$10.83 on Nov 9, 2021.

Also Read: Too hot or warming up? Nine consumer stocks with over 100% YTD return

Clean Harbors, Inc. (NYSE: CLH)

The Norwell, Massachusetts-based CLH provides cleaning services to commercial, industrial, and automotive customers. It offers eco-friendly products and services to protect and restore the natural environment in North America. Its services include end-to-end hazardous waste management, industrial cleaning, maintenance & recycling services, and emergency response.

The total revenues for the three months ended September 30, 2021, were US$951.5 million compared to US$779.3 million for the same period in 2020.

The net income was US$65 million or US$1.20 per diluted share against US$54.9 million or US$0.99 per diluted share in the September quarter of the previous year. 

The waste management company was founded in 1980 and brought its IPO in 1987. It has a market capitalization of US$5.85 billion and a P/E ratio of 30.54. 

Its stock grew 40.89% YTD. It closed at US$107.43 on Nov 9, 2021.

Also Read: Robinhood (HOOD) stock dips after hacking attack exposes customer data

ChargePoint Holdings, Inc. (NYSE: CHPT)

The Campbell, California-based company provides an electric vehicle charging network.

For the July quarter, the revenue was US$56 million compared to US$35 million in the corresponding quarter of 2020. The net loss attributable to common shareholders was US$92 million or US$(0.29) per diluted share against the net loss of US$94 million or US$(6.97) per diluted share in the July quarter of the previous year.

The company was founded in 2007 and brought its IPO in 2019. It has a market capitalization of US$8.3 billion. The stock fell 36.15% YTD. It closed at US$25.82 on Nov 9, 2021.

Also Read: GE stock jumps 17% on plans to split into three companies

First Solar, Inc. (NASDAQ: FSLR)

The Tempe, Arizona-based FSLR manufactures solar panels, modules, and systems for scaling utility projects. 

For the September quarter of 2021, the company earned revenue of US$584 million compared to US$927 million in the previous year's corresponding quarter.

The net income was US$45 million or US$0.42 per share diluted compared to US$155 million or US$1.45 per diluted share in the same quarter in 2020.

The company was founded in 1999 and brought its IPO in 2006. It has a market capitalization of US$12 billion and a P/E ratio of 26.94. 

The stock grew by 14.85% YTD. It closed at US$114.1 on Nov 9, 2021.

Also Read: Are these infra stocks poised to take off after US$1 tr spending plan?

 (Green stocks)

Source – Pixabay

Also Read: NIO sees record revenue growth in Q3 on strong vehicle deliveries

Bloom Energy Corporation (NYSE: BE)

The San Jose, California-based company provides electric power solutions. The Bloom energy server is a power generation platform to provide uninterrupted power to clients. The platform uses biogas, hydrogen, and natural gas to create electricity.

The revenue for the September quarter of 2021 was US$207 million compared to US$200 million in the previous year. It booked a net loss of US$52.7 million or US$(0.30) per diluted share compared to a loss of US$12 million or US$(0.09) per diluted share a year ago.

The company was founded in 2001 and brought its IPO in 2018. It has a market capitalization of US$6.0 billion. On Nov 8, 2021, the company announced a one-megawatt project at Dairy Farms in Kerman, California, to produce renewable electricity from cow manure. 

The stock grew by 21.39% YTD. It closed at US$34.29 on Nov 9, 2021.

Also Read: Coinbase (COIN) falls short on Q3 revenue, but profits beat estimates

Bottomline

Although the performance of these stocks would depend on the government incentives in the short term, experts believe the sector will grow by leaps and bounds in the next few years. As such, these stocks are increasingly catching the attention of environment-conscious investors. However, they must apply due diligence before investing in the stock market.

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