5 Most Promising Clean Energy Stocks According to Analysts

In this piece, we will take a look at the five most promising clean energy stocks according to analysts. If you want a deeper dive into the clean energy industry and some catalysts, then check out 12 Most Promising Clean Energy Stocks According to Analysts.

5. Sunnova Energy International Inc. (NYSE:NOVA)

Latest Analyst Share Price Upside: 38.09%

Sunnova Energy International Inc. (NYSE:NOVA) is one of the more unique companies on our list since it provides ‘energy as a service’ through its residential solar energy systems. The firm has missed analyst EPS estimates in three out of its four latest quarters and the shares are rated Buy on average.

As this year’s September quarter ended, 22 out of the 910 hedge funds tracked by Insider Monkey were Sunnova Energy International Inc. (NYSE:NOVA)’s shareholders. Jos Shaver’s Electron Capital Partners was the biggest investor as it owned $55.5 million worth of shares.

4. Bloom Energy Corporation (NYSE:BE)

Latest Analyst Share Price Upside: 45.99%

Bloom Energy Corporation (NYSE:BE) is a backend renewable energy firm that makes and sells fuel cell systems for renewable energy generation through sources such as hydrogen and biogas. The firm announced in December 2023 that it had started powering a portion of the California Institute of Technology’s grid with a hydrogen project.

During Q3 2023, 29 out of the 910 hedge funds covered by Insider Monkey’s research held a stake in the company. Bloom Energy Corporation (NYSE:BE)’s largest hedge fund shareholder is Philippe Laffont’s Coatue Management due to its $45.8 million stake.

3. Green Plains Inc. (NASDAQ:GPRE)

Latest Analyst Share Price Upside: 54.94%

Green Plains Inc. (NASDAQ:GPRE) is an American firm that is known primarily in the clean energy industry for selling ethanol. It is another top rated stock on our list, as analysts have rated the shares as Strong Buy on average and set an average share price target of $40.44.

Insider Monkey dug through 910 hedge fund portfolios for 2023’s third quarter to find 24 Green Plains Inc. (NASDAQ:GPRE) investors. Out of these, the biggest investor is Frederick Disanto’s Ancora Advisors since it holds a $121 million stake.

2. Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Latest Analyst Share Price Upside: 62.62%

Shoals Technologies Group, Inc. (NASDAQ:SHLS) is a technology company that sells equipment used in solar power generation systems. The firm had a rocking third quarter as its revenue grew by 48% annually in the time period that also saw its backlog jump by 34% annually.

By the end of this year’s September quarter, 33 out of the 910 hedge funds surveyed by Insider Monkey were the firm’s investors. Shoals Technologies Group, Inc. (NASDAQ:SHLS)’s largest hedge fund shareholder is Todd J. Kantor’s Encompass Capital Advisors as it owns $80.3 million worth of shares.

1. Plug Power Inc. (NASDAQ:PLUG)

Latest Analyst Share Price Upside: 62.62%

Plug Power Inc. (NASDAQ:PLUG) is a technology company developing hydrogen systems for transportation network use. The firm’s investors were in for some bad news in December 2023 when Morgan Stanley downgraded the shares to Underweight from Equal Weight and cut the share price target to $3 from an earlier $3.50.

26 out of the 910 hedge funds covered by Insider Monkey’s Q3 2023 research had bought and owned Plug Power Inc. (NASDAQ:PLUG)’s shares. Israel Englander’s Millennium Management was the biggest investor as it owned 3.3 million shares that are worth $25.7 million.

Disclosure: None. You can also take a look at 11 Best Fundamentally Strong Penny Stocks To Invest In and 11 Best Fundamentally Strong Penny Stocks To Invest In.

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