In this piece, we will take a look at the five best biofuel stocks to buy now. For a detailed look at recent trends in the biofuel sector, check out 10 Best Biofuel Stocks To Buy Now.
5. Alto Ingredients, Inc. (NASDAQ:ALTO)
Number of Hedge Fund Investors In Q2 2023: 15
Alto Ingredients, Inc. (NASDAQ:ALTO) is an American chemical company that makes fuel grade ethanol and oil used to produce biodiesel. After a disappointing series of earnings misses, the firm’s second quarter offered respite as it beat analyst EPS estimates by a wide margin for the first beat in the four latest quarters.
During Q2 2023, 15 out of the 910 hedge funds polled by Insider Monkey had held a stake in Alto Ingredients, Inc. (NASDAQ:ALTO).
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4. Aspen Technology, Inc. (NASDAQ:AZPN)
Number of Hedge Fund Investors In Q2 2023: 16
Aspen Technology, Inc. (NASDAQ:AZPN) is a software company that allows biofuel manufacturers to use process optimization to improve their production and output. The firm’s been having a rough time on the financial front lately, as it has missed analyst EPS estimates in three of its four latest quarters.
Insider Monkey scoured through 910 hedge funds for their shareholdings during this year’s second quarter and discovered 16 Aspen Technology, Inc. (NASDAQ:AZPN) shareholders.
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3. Green Plains Inc. (NASDAQ:GPRE)
Number of Hedge Fund Investors In Q2 2023: 18
Green Plains Inc. (NASDAQ:GPRE) is an agricultural products company that utilizes its familiarity with grain production to also produce ethanol. It also operates ethanol storage and fuel terminals. Its shares are rated Strong Buy on average and analysts have penned in a $42 average price target.
During 2023’s June quarter, 18 out of the 910 hedge funds tracked by Insider Monkey had held a stake in Green Plains Inc. (NASDAQ:GPRE). Out of these, the firm’s biggest investor is Frederick Disanto’s Ancora Advisors since it owns 4.1 million shares that are worth $134 million.
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2. NewMarket Corporation (NYSE:NEU)
Number of Hedge Fund Investors In Q2 2023: 19
NewMarket Corporation (NYSE:NEU) provides additives that enhance ethanol’s performance as a biofuel. It is a dividend paying stock with a sizeable 1.99% yield. It is also a stock that is dominated by institutional investors, with the latest data showing that 67% of NewMarket Corporation (NYSE:NEU)’s shares are owned by institutional players according to Refinitiv.
Insider Monkey’s second quarter of 2023 survey covering 910 hedge funds revealed that 19 had bought the firm’s shares. NewMarket Corporation (NYSE:NEU)’s largest hedge fund shareholder is Cliff Asness’ AQR Capital Management due to its $8.7 million investment.
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1. KBR, Inc. (NYSE:KBR)
Number of Hedge Fund Investors In Q2 2023: 47
KBR, Inc. (NYSE:KBR) is an industrial services provider that provides technologies that enable biofuel companies to convert carbon dioxide and other gasses into sustainable aviation fuel (SAF). It has beaten analyst EPS estimates in all four of its latest quarters and the stock is rated Strong Buy on average.
47 out of the 910 hedge funds tracked by Insider Monkey were KBR, Inc. (NYSE:KBR)’s investors as of Q2 2023. is the biggest investor among these Benjamin Pass’ TOMS Capital through its $141 million investment.
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Disclosure: None. You can also take a look at 10 Best Lithium ETFs and 10 Best Ad-tech Stocks To Buy Now.
