4 Unstoppable Clean Energy Stocks To Add To Your Watchlist In January

NASDAQ: TSLA | Tesla, Inc. News, Ratings, and Charts

Following a record-setting performance in 2020, most stocks in the clean-energy sector are expected to soar again this year as governments worldwide take steps to transition their economies to a sustainable energy base. While the clean-energy sector involves primarily solar and wind energy, there other energy types to be embraced, such as biomass, geothermal, and hydropower. Even lithium mining companies will play an important role in a sustainable energy future because lithium is used in the production of batteries for electric vehicles (EVs).

The capacity of renewable energy is set to expand 50% between 2019 and 2024, led primarily by solar energy. In fact, the price of solar energy has fallen by 89% in the past 10 years. Also, EVs are expected to become much more common in the near future and, in many ways, 2021 is expected to be a spectacular year for EVs.

This, along with President-elect Joe Biden’s ambitious plans regarding the reduction of global warming, has helped cleantech stocks like Tesla, Inc. (TSLA - Get Rating), Sociedad Quimica y Minera S.A. (SQM - Get Rating), Ballard Power Systems, Inc. (BLDP - Get Rating), and Canadian Solar Inc. (CSIQ - Get Rating) hit their all-time highs. Because these stocks are well-positioned to ride the clean energy wave, we think it wise to keep a close eye on them for appropriate buying opportunities.

Tesla, Inc. (TSLA - Get Rating)

The EV manufacturer TSLA needs no introduction. The company operates primarily through two segments — automotive, and energy generation and storage. TSLA Co-founder and CEO of TSLA Elon Musk became the world’s richest man on Thursday on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people. surpassing Jeff Bezos, the founder of Amazon.com, Inc. (AMZN). TSLA stock surged 7.9% yesterday, hitting its all-time high of $816.99, based on hopes around a “blue” U.S. Senate.

TSLA delivered 180,570 vehicles in the fourth quarter (ended December 31, 2020). For the third quarter, ended September 30, 2020, TSLA’s total revenue increased 39.2% year-over-year to $8.8 billion. The energy storage business saw record deployments of 759 MWh in the third quarter. Non-GAAP net income has increased 155.6% year-over-year to $874 million, yielding EPS of $0.76, representing a 105.4% year-over-year increase.

Analysts expect TSLA’s revenue to increase 37.6% for the quarter ended December 31, 2020, 61.6% for the quarter ending March 2021, and 46.7% in 2021. The company’s EPS is expected to increase 124.4% for the quarter ended December 31, 2020, 69.5% in 2021, and at a rate of 396.7% per annum over the next five years. TSLA has an impressive earnings surprise history with the company beating consensus EPS estimates in each of the trailing four quarters.

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