Top Penny Stocks To ? 3 Green Energy Stocks For Your List

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This story originally appeared on PennyStocks

These 3 Green Energy Penny Stocks Could Be Worth Watching

2021 is the year that green energy penny stocks take off. With so many to choose from, finding the best penny stocks in the renewables sector can seem daunting. However, if we break it down into a few sectors, it can become much easier. 

The most common area of the industry is renewable energy. This includes solar companies, uranium companies, other renewable energy providers, and the businesses that help them to run. These penny stocks stand to benefit greatly from long-term energy demand in the U.S. and globally. And given the massive push for the world to become greener, it continues to look like there is a lot of potential there. 

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Next, we have EV penny stocks. While major players like Tesla Inc. (NASDAQ: TSLA) and more recently, Lucid Group Inc. (NASDAQ: LCID), have reigned supreme; many EV penny stocks have climbed as a result of correlative momentum. 

But, LCID stock and TSLA stock continue to show what the larger trajectory of the industry could look like. And for that reason, they are important to consider if you’re looking at EV companies to invest in. While there are more areas of the green energy market to watch right now, these two sectors are highly in focus. With all of this in mind, let’s take a look at three green energy penny stocks for your list. 

3 Green Energy Penny Stocks to Watch Right now 

  1. Uranium Energy Corp. (NYSE: UEC) 
  2. Denison Mines Corp. (NYSE: DNN) 
  3. Ocean Power Technologies Inc. (NYSE: OPTT) 

Uranium Energy Corp. (NYSE: UEC) 

Over the past one-year period, shares of UEC have climbed by a steady 125% or so. This is indicative both of UEC’s potential as a uranium penny stock and the industry as a whole. Right now, renewable energy is on fire, and it doesn’t look like that momentum is going anywhere anytime soon. 

One of the big pieces of news out of the uranium industry comes as Japan showed a renewed interest in uranium only a few weeks ago. As of July, the country had nine operating reactors, which is the largest amount since the disaster in Fukushima almost 10 years ago. To understand UEC’s role in all of this, let’s take a closer look at the company. Uranium Energy is a U.S.-based uranium company working on the exploration of new mines and the production at existing mining properties.

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It also is a pioneer in the in-situ recovery method of mining uranium. This method is both low cost and much friendlier to the environment when compared to traditional uranium mining operations. Uranium Energy Corp. states that it has several properties across Colorado, Arizona, New Mexico, Paraguay, and more. This together makes up its large portfolio of mining operations that span several continents. So, considering its placement as a leader in the uranium industry, is UEC stock worth adding to your watchlist?

Penny_Stocks_to_Watch_Uranium Energy Corp. (UEC Stock Chart)

Denison Mines Corp. (NYSE: DNN) 

Up by more than 6% at EOD are shares of DNN stock. Denison Mines is another uranium penny stock working hard to become a leading energy penny stock to watch. Based in Canada, Denison operates a range of mining properties based in the Athabasca Basin region of Saskatchewan. This includes its main property known as the Wheeler River project. In addition to this, it owns a 22.5% interest in the McClean Lake Joint Venture, a 66% interest in the Tthe Heldeth Tue, and several others as well. Last week, Denison reported its financial results for the second quarter of this year. 

“The company continues to successfully advance on its ambition of developing high-grade Phoenix deposit, as potentially one of the lowest cost uranium mines in the world, at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle.” 

David Cates, President and CEO of Denison Mines

During the quarter, the company managed to complete a 50% acquisition of JCU (Canada) Exploration Company Ltd. for around $20.5 million. This allows it to have access to 12 uranium projects including an interest in the Wheeler River project. Wheeler River is reportedly the largest undeveloped uranium project in the Eastern Athabasca Region, and for that reason, could have a lot of potential moving forward. So, with all of this in mind, will DNN stock be only your list of penny stocks to watch in the coming months?

Penny_Stocks_to_Watch_Denison Mines Corp. (DNN Stock Chart)

Ocean Power Technologies Inc. (NYSE: OPTT) 

Based in the U.S., Ocean Power Technologies is as its name suggests, a provider of offshore electric power. It offers products such as its PowerBuoy solution system for providing reliable electricity to industries such as offshore oil and gas, defense, security, science, and any other industries that may require power in an offshore setting. Only a few weeks ago, OPTT announced its fourth quarter and full-year 2021 results. So, to get a better understanding of the company, let’s take a look at the numbers. 

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In the report, the company noted the acquisition of 3Dent Technologies which helped to add both consulting and engineering to its pipeline of product offerings. In addition, it announced the deployment of several PowerBuoy products in Chile, the Adriatic Sea, and others. 

“Despite the challenges presented by the Covid-19 pandemic, during the fiscal year 2021, OPT continued its business progression, including the successful acquisition and integration of 3Dent Technology, which will open up new avenues for consulting services, and we significantly improved our cash position.” 

CEO of Ocean Power Technologies, Philipp Stratmann

While its revenue for the full-year period was a 28% decrease over the previous year, this makes sense given the effects of the pandemic on nearly all aspects of its business. However, it did end the quarter with more than $83.6 million in cash on hand. So, considering its advantageous cash position and potential in the future of the industry, is OPTT stock worth watching right now?

Penny_Stocks_to_Watch_Ocean Power Technologies Inc. (OPTT Stock Chart)

Which Green Energy Penny Stocks Are You Watching Right Now?

With so many penny stocks to choose from right now, green energy stocks continue to be some of the most interesting to keep an eye on. And while many investors watch these stocks for the long term, they can offer plenty of short-term potential. Considering the future of the renewables market, are these penny stocks worth watching?

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