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3 Small-Cap Cleantech Stocks That Could Continue to See Impressive Gains in 2021

3 Small-Cap Cleantech Stocks That Could Continue to See Impressive Gains in 2021

Posted On January 8, 2021 4:17 am
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The clean energy sector is projected to be the fastest growing industry post COVID-19 pandemic. Following one of the largest mass vaccinations in history, which is currently at an early stage, the global economy’s recovery is expected to drive a significant growth for the clean energy industry,  with major economies actively taking steps to transform their industries.

Cleantech stocks are likely to surge in today’s trading session because the Congress and President Trump formally acknowledged Joe Biden’s victory, pledging to a peaceful transition of power. The incoming administration has ambitious plans to revamp the face of America as a carbon-neutral nation over the next four decades and to ensure the sustainable growth of the clean energy industry.

While investor sentiment surrounding this industry has led to massive gains for some prominent players in this space, several small-cap companies have also boasted double-digit gains over the past year, backed by significant increases in revenues and earnings.

We think companies such as Blink Charging Co. (BLNK – Get Rating), Beam Global (BEEM – Get Rating) and ReneSola Ltd. (SOL – Get Rating) have the potential to outperform cleantech giants in terms of growth rates in the coming months through their strategic expansion policies and growing footprint in international markets.

Blink Charging Co. (BLNK – Get Rating)

BLNK owns and operates electric vehicle charging equipment and network charging stations across the U.S. Its primary product line includes Blink EV Charging network, EV charging equipment, and EV related services.

BLNK recently introduced innovative cable management solutions for its charging stations that allow  the company to maintain its equipment easily while ensuring the safety of users. In November, BLNK acquired EV charging operator U-Go Stations, Inc., which added 44 new locations to BLNK’s portfolio charging points.

With the U.S.  taking steps to transform public transport systems with electric vehicles, BLNK partnered with Lion electric company in December to capitalize on the emerging trend. Under the agreement, Blink charging stations are to be established with Lion EV school fleets and other vehicles.

The company signed similar agreements with Lehigh Valley Health Network and Blessing Health Systems in the same month. These partnerships allow BLNK to expand its operations across  the country, thereby establishing itself more firmly  in the EV charging space.

BLNK’s revenues have increased 18% year-over-year to $0.90 million in the third quarter ended September 30, 2020. This can be attributed to a 74% rise in product sales, and an 87% rise in Blink owned chargers deployed across the country.

Analysts expect BLNK’s EPS to rise 15.2% in fiscal 2021. The consensus revenue estimate of $10 million for this year represents  an 89.4% improvement year-over-year.

BLNK has gained more than 3,205% since hitting its 52-week low of $1.25 in March. The stock hit its 52-week high of $56.12 on December 28.

The POWR Ratings are also bullish on BLNK. It has a “Buy” rating. It also has an “A” for Trade Grade. Among the Specialty Retailers stocks, it is ranked 10th out of 45.

Beam Global (BEEM – Get Rating)

BEEM develops and sells solar powered products and renewably energized products through proprietary technology solutions. The company’s renewable energy platforms have applications in the electric vehicle industry, energy security, and outdoor media and branding industry. Its products can be categorized in two segments – Electric Vehicle Autonomous Renewable Charger (EV ARC) and SolarTree. The company was added to the CIBC Atlas Clean Energy Index in  December.

As of December 9th, BEEM had…

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