5 Most Promising Green Stocks According to Analysts

In this piece, we will take a look at the five most promising green stocks according to analysts. If you want to learn more about the latest trends in the renewable energy industry, then read 12 Most Promising Green Stocks According to Analysts.

5. Green Plains Inc. (NASDAQ:GPRE)

Average Analyst Share Price Upside: 67%

Green Plains Inc. (NASDAQ:GPRE) is an American company that makes and sells ethanol for a variety of purposes including energy related use cases. The firm consolidated its business in January 2024 by bringing a former fuel storage subsidiary fully under its wing through a merger.

As of Q3 2023 end, 24 out of the 910 hedge funds covered by Insider Monkey’s research had bought and owned Green Plains Inc. (NASDAQ:GPRE)’s shares. Frederick Disanto’s Ancora Advisors was the biggest shareholder due to its $121 million stake.

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

Average Analyst Share Price Upside: 87%

Shoals Technologies Group, Inc. (NASDAQ:SHLS) is a diversified energy systems company whose products are used in solar power generation, electric vehicle charging, and other green applications. The shares are rated Strong Buy on average and analysts have set an average share price target of $24.94.

During September 2023, 33 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in the firm. Shoals Technologies Group, Inc. (NASDAQ:SHLS)’s largest hedge fund investor is Todd J. Kantor’s Encompass Capital Advisors as it holds $80.3 million worth of shares.

3. Array Technologies, Inc. (NASDAQ:ARRY)

Average Analyst Share Price Upside: 91%

Array Technologies, Inc. (NASDAQ:ARRY) sells solar tracking systems that enable solar panels to maintain their position with respect to the Sun. It’s one of the more interesting clean energy stocks on our list since there is quite a bit of potential for Array Technologies, Inc. (NASDAQ:ARRY) to leverage A.I. to improve its products.

Insider Monkey sifted through 910 hedge fund portfolios for 2023’s third quarter and found that 40 were Array Technologies, Inc. (NASDAQ:ARRY)’s investors. Jos Shaver’s Electron Capital Partners was the biggest stakeholder among these courtesy of its $135 million investment.

2. Plug Power Inc. (NASDAQ:PLUG)

Average Analyst Share Price Upside: 94%

Plug Power Inc. (NASDAQ:PLUG) is a diversified clean energy company focusing on developing hydrogen based fuel cells for cars, trucks, and other applications. The firm has struggled a lot on the financial front as of late, as it has missed analyst EPS estimates in all four of its latest quarters.

By the end of last year’s third quarter, 26 out of the 910 hedge funds profiled by Insider Monkey had invested in the company. Plug Power Inc. (NASDAQ:PLUG)’s largest investor in our database is Israel Englander’s Millennium Management as it owns 3.3 million shares that are worth $25.7 million.

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

Average Analyst Share Price Upside: 102%

Sunnova Energy International Inc. (NYSE:NOVA) is an American residential solar energy company headquartered in H0uston, Texas. Truist upgraded its shares to Buy from Hold in January 2024 and increased the share price target to $18 from $10.

22 out of the 910 hedge funds covered by Insider Monkey’s research had bought Sunnova Energy International Inc. (NYSE:NOVA)’s shares during Q3 2023. Jos Shaver’s Electron Capital Partners was the biggest shareholder due to its $55 million stake.

Disclosure: None. You can also take a look at 18 Best 52-Week Low Stocks To Buy Now and 11 High Growth Low Debt Stocks to Buy.

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