Unfortunately, Covid-19 is still on the rampage across the globe. However, the good news is that the newest data coming from late stage studies indicates a vaccine may soon become widely available. Amongst the candidates entering the final stretch is BNT162b2, the result of a collaboration between BioNTech (BNTX) and Pfizer (PFE). The final efficacy analysis from the Phase 3 trial showed the vaccine had a 95% success rate in preventing the coronavirus, far above the 50% required by the FDA in order to gain regulatory approval. The partnership has filed for Emergency Use Authorization (EUA), and an FDA advisory committee is set to meet on December 10 to discuss the way forward.H.C. Wainwright analyst Robert Burns believes there is a “high likelihood that the FDA advisory committee shall recommend approval of BNT162b2.”This is obviously good news, but what does it mean specifically for BioNTech investors? Here Burns doesn’t exude as much confidence.The Covid-19 vaccine space is crowded, with other programs nearing the finish line, too. Different candidates have differentiating features setting them apart from one another. A drawback for BioNTech/Pfizer’s offering is its need to be stored at ultra-low temperatures; at -94°F for up to six months or up to five days at 36-46°F.The 5-star analyst highlights how this potential limitation can impact its success when compared to other candidates.“For instance,” Burns noted, “Moderna recently announced that its mRNA-1273 can be stored at 36-46°F for up to 30 days and maintains stability at room temperature for 12 hours. Furthermore, CureVac has stated that CVnCoV is stable for at least three months at refrigerated temperatures, and up to 24 hours at room temperature. Given this potential disadvantage for BNT162b2, we believe it may be premature to definitively call BNT162b2 the clear-cut winner in the COVID-19 vaccine race.”To this end, Burns reiterates a Neutral (i.e. Hold) rating on BNTX shares without specifying a price target. (To watch Burns’ track record, click here)Overall, the Street is evenly split when assessing BioNTech’s prospects; 4 Buys and Holds, each, coalesce to a Moderate buy consensus rating. However, riding its vaccine candidate’s promise, BNTX shares are up by 207% year-to-date, and the analysts feel the stock has surged enough for now; At $102.43, the projection is for downside of 4% in the coming months. (See BNTX stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
From escalating tensions between the U.S. and China, the highly infectious coronavirus pandemic outbreak, and the 2020 presidential Election, this year has turned into a rollercoaster ride for investors. Forced lockdowns weighed down industries like the oil & gas sector, retail businesses, theatre, and entertainment companies, but spurred an uptick in technology stocks.With Pfizer Inc. (NYSE: PFE) and Moderna Inc. (NASDAQ: MRNA) reporting high efficacy for their COVID-19 vaccines but the number of new virus cases getting reported remaining high, the analysts are expecting a change in market behavior as the world moves to what they describe as a post-COVID-19 world.CNBC compiled a list of five stocks with an upside potential based on opinions from leading Wall Steet analysts. Here's a peek into these stocks and the key factors influencing the analyst forecasts.Amazon: The pandemic might have shrunk the global economy, however, Jeff Bezos' Amazon Inc (NASDAQ: AMZN) rose to cross the $1.5 trillion market cap. The e-commerce company's stock peaked at a 52-week high price of $3,552.25 in early September.Amazon stock grew approximately 63% on a year-to-date basis and close to 91% since March when the signs of a pandemic became evident.Last week, Needham analyst Laura Martin rated Amazon as a buy -- setting a price target of $3,700, according to TipRanks. Based on Martin's survey results of a select number of Amazon customers, CNBC reported that 80% of the survey participants would stick to their online shopping trends even during the post-pandemic era.In the Q3 earnings release in October, Amazon reported $96.1 billion in revenue at a 37% growth rate year-over-year. Amazon last quoted $3,099.40, 0.57% lower, on Friday.Bentley Systems: RBC Capital analyst Matthew Hedberg revised software company Bentley Systems Inc (NASDAQ: BSY) as a "Buy" stock last week, with a price target of $43, CNBC reports. "Overall, we think a vaccine could benefit Bentley, and a Biden presidency could boost U.S. infrastructure spending," Hedberg commented.The forecasts were based on the company's earnings beat in its first release since the trading debut in September. In Q3, Bentley's $203 million quarterly revenues recorded a growth rate of 8.8% YoY with an 11% YoY growth in recurring revenues for the trailing 12-month period.The company, on Nov. 12, announced plans to issue 10 million shares at $32 per share and use the proceeds to pay off the outstanding balances of credit facilities. From $25.18 on Sept. 22, the stock has gained 41% and was last seen trading at $35.55, 1.22% higher.PDF Solutions: San Jose-based software and engineering services company PDF Solutions Inc (NASDAQ: PDFS) received a Buy rating from the Northland Capital analyst Gus Richard after the news of the $35 million Cimetrix acquisition broke out, as per the CNBC report. Richard raised the stock's price target to $30, last seen quoting $21.28.Richard says that "PDFS/ Cimetrix together can allow equipment suppliers to collect operational data from equipment and use PDFS big data analytics platform and AI to analyze equipment operational, performance, and process control data", as reported by CNBC.Accounting for the acquisition impact in the post-pandemic economy, Richard also anticipates that CY21 earnings could gain between $0.02 and $0.04 per share.Cytokinetics: At the end of Friday's trading session, Cytokinetics, Inc. (NASDAQ: CYTK) was trading at $15.99, 0.95% higher. H.C. Wainright & Co analyst Joseph Pantginis predicts that the biopharma company's stock holds a 180% upside potential, with an estimated price target of $43.The analyst's forecasts are pinned on the success of omecamtiv mecarbil, the company's treatment for heart failures."While a deeper analysis is yet to be conducted and more details are needed to clarify omecamtiv's real opportunity in HF, we believe these findings suggest a possible path forward for omecamtiv's approval based on its applicability for the treatment of a defined, significant, population," Pantginis said, as per CNBC.Yelp: Yelp Inc (NYSE: YELP), the San-Francisco headquartered online review company, has lost around 7% year-to-date. But, since March 18, when the lockdown measures began to kick in, the stock has rallied upwards by 123%.RBC Capital analyst Shweta Khajuria's analysis of the stock's performance is based on the economic revival in the post-pandemic era. Linking the vaccine availability and distribution with the economic revival, the RBC Capital Analyst opines that shopping centers, restaurants and bars, and other retail outlets would witness an increase in footfalls."Management expects Yelp to drive greater benefits from the improvement in its value proposition to advertisers, both perceived and actual to take a greater share of Advertiser budgets," CNBC quoted Khajuria as saying.On Friday's close, Yelp had a market cap close to $2.4 billion and was trading at $32.22, 1.19% higher.Latest Ratings for PFE DateFirmActionFromTo Nov 2020Goldman SachsReinstatesNeutral Nov 2020BernsteinInitiates Coverage OnMarket Perform Oct 2020SVB LeerinkMaintainsMarket Perform View More Analyst Ratings for PFE View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Pfizer, Moderna COVID-19 Vaccines Could Get Limited EU Approval Before Year-End: Report * Sinovac COVID-19 Vaccine Trial Halted In Brazil Over Adverse Event(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
In Monday's rally, new Bitcoin play PayPal cleared early buy points. Tesla and other EV plays soared. Apple broke key support.
Investors are in the market to make a profit, and that means finding the stocks with proven growth potential. Yes, it’s a cliché to remind everyone that past performance does not guarantee future results, but when a stock consistently shows strong share appreciation, over an extended period, it’s a positive sign for investors.With more than ten months behind us, the stocks that are now showing a combination of strong gains and a high near- to mid-term potential are going to attract investor interest.Bearing this in mind, we set out to find stocks flagged as exciting growth plays by Wall Street. Using TipRanks’ database, we locked in on three analyst-backed names that have already notched impressive gains and boast strong growth narratives for the long-term. Bandwidth, Inc. (BAND)We start in the communications software sector, where Bandwidth is a leading provider of VoIP systems, using its application programming interfaces (API) to offer customers both text and voice capabilities. The company's products include applications for voice calling, text messaging, local phone numbers via internet, and 911 emergency phone system access. Bandwidth has developed and built its own network for voice over internet, helping to guarantee connectivity.Like many online tech companies, BAND has benefitted from the 2020’s shift to remote work. The move into the virtual office space has put a premium on internet communications, and BAND shares have reflected that – the stock is up an impressive 135% year-to-date. The company’s Q3 earnings were also strong – and at 14 cents per share were far above the 12 cent net EPS loss expected. Revenues for the third quarter came in at $84.8 million, for a 40% year-over-year increase.In addition to positive revenues and earnings, Bandwidth has also shown sound liquidity. The company had over $300 million in cash and cash equivalents available at the end of September, while liabilities totaled only $57.8 million.Finally, earlier this month, Bandwidth completed its acquisition of the European cloud communications company Voxbone. The deal was valued at 446 million Euros, or more than $520 million in US currency. The transaction included 354.6 million Euros in cash, and the remainder in stock.Bandwidth’s growth and healthy future prospects caught the attention of 5-star analyst Michael Walkley. Writing from Canaccord, this top analyst said, “With Covid-19 impacting the way we work, learn, and interact for the foreseeable future, we believe Bandwidth is a long-term beneficiary from anticipated strong growth trends due to increased customer usage of their platform. We believe revenue growth should remain strong given our expectations for some permanent long-term changes with an increased remote work environment driving both increasing usage from existing customers and layering in the potential for stronger new customer growth.”To this end, Walkley puts a Buy rating on BAND shares, and his $225 price target suggests room for nearly 50% upside in the next 12 months. (To watch Walkley’s track record, click here)Overall, BAND gets a Moderate Buy rating form the analyst consensus, based on 5 reviews, including 4 Buys and 1 Sell. The shares are priced at $150.50, and the average price target of $192.20 implies a one-year upside of ~28%. (See BAND stock analysis on TipRanks)Wayfair, Inc. (W)From cloud communications we move on to e-commerce, where Wayfair is a leader in the home goods and furniture sector. E-commerce has seen heavy gains during the COVID pandemic, as customers moved larger portions of their shopping online. The stock shows that, having grown 180% year-to-date.Earnings have also reflected strong sales during the pandemic period. EPS turned positive in Q2, coming in at $2.54 against a 55-cent forecast. In Q3, the earnings per share was $1.80, beating the estimate by 300%. Revenues are high, too, with the $3.8 billion in Q3 representing a 66% year-over-year gain. And like Bandwidth above, Wayfair has a sound balance sheet, with $2.6 billion in cash and liquid assets reported at the end of the third quarter.These fiscal gains stand on the shoulders of solid sales performance. Wayfair reported 11.3 million orders from repeat customers in Q3, making up almost 72% of the quarter’s total orders. Active customers in the company’s Direct Retail business segment increased 50% yoy, and reached 28.8 million.Peter Keith, 5-star analyst with Piper Sandler, writes of Wayfair, “Looking forward, KPI's repeat customers (% of orders) and revenue per average customer (LTM) both hit all-time highs and suggest Wayfair will grow revenues nicely off a larger base of customers… We maintain our bullish thesis as above-trend sales growth is likely to persist at least into early 2021, and margins are expanding far above expectations – with longer-term drivers coming into focus."It should come as no surprise, then, that Keith stays with the bulls. In addition to an Overweight (i.e. Buy) rating, he left a $370 price target on the stock. Investors could be pocketing a gain of 47%, should this target be met in the twelve months ahead. (To watch Keith’s track record, click here)Overall, Wayfair has 20 reviews on record, including 10 Buys, 7 Hold, and 3 Sell, making the analyst consensus view a Moderate Buy. W stock is selling for $251.70 and has an average price target of $312.63, making the upside potential 24% for the coming months. (See Wayfair’s stock analysis on TipRanks)Schrodinger (SDGR)Last but not least is Schrodinger, a software company that develops applications for the life sciences and materials sciences industries. In short, the company builds the software platforms that allows customers to evaluate experimental compounds. Schrodinger describes its software as a physics-based platform, integrating solutions for collaboration, data analytics, and predictive modeling in chemistry. The platform is used extensively in the pharmaceutical industry, but also in aerospace, energy, and semiconductors.Schrodinger went public in February of this year, just as the corona crisis was ramping up, and quickly saw strong share gains. At the IPO, the stock sold for $26 per share, well above the initial pricing of $17. The company sold well over 11.8 million shares, making the opening one of the year’s most successful. Since then, SDGR shares have more than doubled, gaining nearly 140% in their first nine months of public trading.Revenues have remained consistent during the year, with the first three quarters of 2020 showing the top line between $23 and $26 million. The Q3 number, at $25 million, is right in the middle of that range. The Q3 top line beat the forecast by 10%Covering this stock for BMO, 5-star analyst Do Kim writes, “We believe the 42% y/y growth in software revenues reflects the accelerating adoption of computational drug discovery, in addition to a growing customer base. We expect software growth to continue into 2021, as we believe the pandemic trend of remote work is sticky, with increasing platform validation from collaborations.”In line with this upbeat outlook, Kim rates SDGR shares an Outperform (i.e. Buy) along with a $94 price target. This figure indicates confidence in a 37% one-year upside potential. (To watch Kim’s track record, click here)All in all, Schrodinger’s Strong Buy consensus rating is based on 3 Buys and 1 Hold. The stock has an average price target of $83, giving it a 21% upside from the current trading price of $68.52. (See SDGR stock analysis on TipRanks)To find good ideas for growth stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
President-elect Joe Biden wants to help Americans save for their golden years by expanding access to retirement savings plans, strengthening Social Security, and making health care more affordable.
Its market capitalization is a modest $932 million, and last year it reported barely selling any electric cars. It has been a bumpy ride, The stock nearly doubled in the first four days of the past week, after an announcement from the Texas Commission on Environmental Quality that two models that Kandi plans to launch in the U.S. qualify for tax rebates. Then, on Friday morning, the shares plunged more than 20% after the company said it would raise $100 million through a private placement of stock—the second market-jolting placement in two weeks.
Bitcoin investors, which include top hedge funds and money managers, are betting the virtual currency could more than quintuple to as high as $100,000 in a year. Bitcoin is within sight of its all-time peak of just under $20,000 hit in December 2017. Going from $18,000 to $100,000 in one year is not a stretch, Brian Estes, chief investment officer at hedge fund Off the Chain Capital, said.
The Dow Jones Industrial Average and Russell 2000 small-cap index were the big winners Monday, but technology stocks like Apple and Qualcomm lagged.
American's economy may be a wreck, but with Tesla (TSLA) shares up more than 500% in 2020, investors have nothing to complain about. Now, one analyst argues that, in best case scenario, TSLA could hit $1,000 a share by the end of 2021, as demand for electric vehicles "inflects" on a global scale.Indeed, according to Wedbush analyst Daniel Ives, now that Tesla has enjoyed the windfall from its long-awaited incorporation into the S&P 500 (an event that forced funds and ETFs that track the S&P to buy the stock regardless of price), "the Tesla bull story is now all about a stepped up EV demand," as Tesla drives towards 1 million deliveries in 2023 -- or even as early as 2022 (emphasis added).Now how does Tesla do that?Currently, electric vehicles only make up about 3% of cars sold globally, or roughly 1 in 33. By 2025, however, Ives believes that 1 car in 10 sold will be an EV. And because Tesla is the "EV category leader," it makes sense to assume that many of these EVs sold over the next five years will be Teslas.Is Ives right about that? Ives himself admits that automotive giants General Motors and Ford, as well as newcomers like Fisker and Rivian, are "chasing after Tesla" and will attempt to cut into its market share. Regardless, he says Tesla is "unrivaled" in "production capabilities, battery technology/innovation, and brand awareness," with admirable effects on its sales.Demand for Teslas in Europe and in China has proven "Teflon-like," says Ives, despite a global pandemic in 2020. In its first year of operation, Tesla's Giga 3 factory in Shanghai has already churned out more than 150,000 Teslas, contributing all on its lonesome to nearly one-third of Elon Musk's goal of delivering 500,000 cars globally this year. And going forward, the analyst predicts even greater reliance on China as a growth market, estimating that this single country could account for about 40% of all Teslas sold in future years. Ives admits that in China, too, Tesla faces significant competition. But in a country of 1.4 billion, the analyst sees room for BYD, Nio, Xpeng, and Li Auto to all grow their sales as well, and thrive right alongside Tesla.Profits-wise, the analyst believes Tesla will continue to benefit from high-margin "software driven upgrades" that go "right to the bottom-line." At the same time, he predicts that an incoming Biden-Harris administration may increase tax credits and other incentives for purchases of electric vehicles, boosting demand for Teslas at no cost to Tesla, and thus driving the company's profits even higher.At a minimum, Ives believes that all of these factors combine to make Tesla stock worth $560 a share (7% higher than today) in a base case scenario. And if everything goes right, the stock could be worth $1,000 in a year. The most surprising thing of all? Despite all this, Ives only rates Tesla stock "neutral." (To watch Ives' track record, click here)Overall, while Tesla is a hot-button item in the news, Wall Street doesn’t quite know how to judge its stock. TipRanks analysis of 28 analyst ratings shows a consensus Hold rating, with 10 analysts saying Buy, 9 suggesting Hold and 9 recommending Sell. The average price target among these analysts stands at ~$390, which implies a 25% downside from current levels. (See TSLA stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Does buying gold stocks, or betting on the gold price, make sense, despite vaccine progress and 2020 election results? Here are some things to consider.
Ten days after Citron Research editor and notorious short seller Andrew Left blasted Nio Inc - ADR (NYSE: NIO) for its valuation, Left called out electric vehicle charging station stock Blink Charging Co (NASDAQ: BLNK) as the latest stock caught in the EV bubble.Citron said Blink's valuation makes no sense and called the company a "total scheme." Left said it is "insulting" to call Blink an EV stock."New most ridiculous EV stock is $BLNK. No $$ for R&D, management accused of securities fraud, no real revenues," Citron tweeted.Related Link: Citron Pulls Plug On Nio, Says Valuation 'Can Never Be Justified'The Numbers: Bink shares are up 26.2% on Monday to $28.65 and are now up 1,630% in the past year. The company's market cap is now roughly $1 billion even though the company reported less than $1 million in total revenue in the third quarter."Expect a massively diluted deal soon so management can continue to deceive public. This should trade right back to $10 where it is still overpriced," Citron said Monday.> $BLNK has made no progress expanding downloads or network in years. A total commodity product with no brand. It is an insult to other EV makers to even mention $BLNK as an EV stock, lowest form of shareholder base. This is a $1 bil joke. pic.twitter.com/x4H6CVjSeF> > -- Citron Research (@CitronResearch) November 23, 2020Back on Nov. 13, Citron urged investors to cash out of another popular EV stock, China's Nio."After a rocky road of trading, NIO has found itself in unchartered territory that can never be justified by its current standing in the China EV market or its near-term prospects," Left said.Last Friday, Left also called Electrameccanica Vehicles Corp (NASDAQ: SOLO) "a complete joke."A Better EV Alternative: On Monday, Citron urged Blink investors to instead consider buying Switchback Energy Acquisition (NYSE: SBE), which trades at a similar valuation but has a much larger market share."For all $BLNK investors who are naive, for same mkt cap of $BLNK you can buy ChargePoint $SBE with 73% market share, considering mkt penetration $BLNK should be at $1 per share," Left said.Benzinga's Take: Stock market bubbles are defined by "irrational exuberance" that can temporarily send stock prices soaring to irrational levels. However, shorting stocks that are caught in a bubble can be extremely dangerous given that irrational exuberance can last for years and the ultimate top is only reached once investor enthusiasm has died down.See more from Benzinga * Click here for options trades from Benzinga * Here's How Much WWE Has Changed Since The Undertaker's Debut * Josh Brown Predicts Year-End Market Melt-Up, Bets On Reopening Stocks(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We will both collect Social Security, and she has a teacher’s pension, so our basic expenses are covered. Income taxes: Before you do anything with that bonus, wait until your taxes are done for 2020.
Fannie and Freddie’s regulator is reportedly considering an attempt to end government control over the mortgage giants before Joe Biden enters the White House.
Are you an environmentally friendly and socially responsible investor? If so, there's an entire set of stocks to watch that specifically reflects that mindset. They're called "ESG stocks" and they're beginning to grow in popularity. These are shares of companies that advance environmental, social, and governance initiatives within their respective industries and organizations contributing to a better world. It doesn't matter if we're talking about penny stocks or blue-chip stocks, the ESG wave is building. Breaking Down ESG & Applying It To Small-Cap StocksAn environmentally aware company focuses on things like climate change, renewable energy, and decreasing carbon footprints. Social responsibility takes into consideration things like employee culture--pay equality, training, benefits, ethical behavior, and astute customer service are all part of it. When we talk about governance, these are companies focused on corporate governance, such as how executives are compensated, are they treated fairly, transparency, voting rights, and diversity are all things you could consider as part of these companies. These characteristics have been growing in popularity among the newest generation of investors, many of whom have entered the market via fast-growing brokers like Robinhood. And thanks to pandemic lockdowns, curiosity has driven a wave of interest in stocks. It has also pushed interest in things like penny stocks, for instance. If you look at some of the penny stock brokerage growth statistics for 2020, you'll see far and away, Robinhood has become a favorite. Among these Robinhood traders, many of the Top 100 list on the platform are building exposure to ESG initiatives. For instance, just this month, we saw a previous penny stock, Nio Inc. (NYSE: NIO) surge to new highs of over $54 a share. The company manufactures electric vehicles and to think it was one of the EV stocks under $5 at the start of the year doesn't seem real. But it is. Nio isn't the only ESG stock that has jumped and it won't be the last either.Small-Cap Stocks Surge With Growing Interest In ESG CompaniesYou can look for some of the big names when it comes to finding ESG stocks to buy right now. But for those who've seen how quickly the latest trend in EV penny stocks has accelerated, it seems fitting to look at some small-cap stocks in this ESG niche. While some are still penny stocks, others have graduated from the sub-$5 level. Gevo Inc. Gevo Inc. (NASDAQ: GEVO), for instance, is one of the stocks under $5 that has experienced a significant jump during the third and fourth quarters. The company develops renewable chemicals and biofuels. Gevo's entire model targets the reduction of greenhouse gas emissions with sustainable alternatives. The company uses low-carbon renewable resource-based carbohydrates as raw materials. While the company has made many strides to take advantage of this trend. In August, Gevo saw a positive reaction in the market after announcing that it has exceeded $1.5 billion in long-term contracts after signing a deal with Trafigura, one of the world's top commodity trading companies. The deal was set to support Trafigura's plan to build a market for low-carbon fuels further extending the positive environmental impact of Gevo's assets. The company also went further in October via a deal with TOTAL Cray Valley to develop a renewable isoamylene for TOTAL's polymer division. While shares are still down for the year, since the beginning of the third quarter, GEVO stock has nearly doubled. Fuel Tech Inc.Fuel Tech Inc. (NASDAQ: FTEK) is another one of the ESG penny stocks to watch on this list. The company provides solutions for controlling emissions, treating water in industrial applications, and optimizes combustion systems. While this is still a stock under $5, FTEK has made a significant move in the market since the start of the year. At one point this month, the penny stock reached a high of $2.58, which is considerable seeing as it was trading below $1 in January and even as low as $0.30 in March. What should investors be watching with Fuel Tech right now? While it's been a topsy-turvy year for most companies, Fuel Tech is looking ahead. The company recently reported its third quarter results and gave a business update discussing the outlook heading into 2021. While the company far exceeded estimates for both EPS and sales, it is important to pay attention to what management laid out for the coming months especially when we're talking about ESG stocks."Within our Air Pollution Control (APC) business segment, we remain intensely focused on providing custom-engineered solutions that fulfill the unique needs of each of our customers, and expect the final decisions to be made on multiple projects by the end of the year which, if Fuel Tech's bids are selected, would increase backlog for 2021 and beyond by $10 to $15 million," said President and CEO Vincent J. Arnone.Ocean Power TechnologiesHarnessing energy from ocean waves. That is what Ocean Power Technologies (NASDAQ: OPTT) looks to accomplish. The company has enjoyed one of its best years in the market in 2020. Since January 2, shares of OPTT stock have climbed from around 90 cents to highs of $3.72 and currently sit around $2. The company's subsea solutions have gained the most interest. Ocean Power's product, its PowerBuoy solutions platform, provides clean and reliable electric power. Furthermore, its Subsea Battery provides constant power for projects requiring electric power offshore. The company's recent contracts with the Adams Communications & Engineering Technology and receipt of a DeepStar project award have helped validate its systems.With Adams, Ocean Power's PB3 PowerBuoy solution will be evaluated in support of the U.S. Navy's Naval Postgraduate School's Sea, Land, Air, Military Research Initiative. Furthermore, the DeepStar project award will see the company study the deployment and operational requirements of utilizing OPT's PB3 PowerBuoy to provide remotely controllable zero-carbon power for deepwater subsea oil production applications. Members of this DeepStar consortium include Chevron, Equinor, ExxonMobil, Occidental, Petrobras, Shell, and TOTAL among other energy names.FuelCell EnergyFuelCell Energy (NASDAQ: FCEL) is one of the ESG stocks recently graduating from penny stock levels in November. It's also one of the top-performing fuel cell stocks. Since the start of 2020, FCEL stock has climbed from around $2 to highs this month of over $8.It's also been compared to other companies within the sector, like previous penny stock Plug Power (NASDAQ: PLUG). In the case of FuelCell, the ESG play on this stock stems from the company's business model. FuelCell handles all aspects of fuel-cell production, sales, installation, etc. The company recently secured an $8 million contract with the US Department of Energy to support the design and manufacture of a SureSource electrolysis platform. This platform will be integrated into and utilized for nuclear power plant waste heat for reaching efficiencies of up to 100%. This funding is a major step for the company and further validation of its technology. This month, hydrogen and fuel cell stocks have been running strong. A potential Biden presidency and general sector strength have helped drive momentum across the market. For FuelCell, the important thing to pay attention to is, similar to EV stocks, is the hype behind the move. FCEL stock has made a consistent move early in the year but during the last week, the penny stock went parabolic. So, the biggest question is whether or not FCEL can actually sustain trading levels above the $5 mark or not, in the short term.VivoPower InternationalVivoPower International (NASDAQ: VVPR) is another one of the former ESG penny stocks to skyrocket this year. This is a solar power and battery technology company, so the obvious focus on electric vehicle stocks has wrapped VVPR into the mix. At the beginning of the fourth quarter, the company acquired a controlling interest in Tembo 4x4 e-LV B.V. for $4.7 million. Tembo provides battery-electric and off-road vehicle solutions. This helped trigger the recent momentum that VVPR stock has seen. Shares even moved as high as $24.33. Similar to many small-cap stocks, that parabolic move didn't hold and, after announcing a $28.8 million financing, VVPR shares fell hard. It would appear that with a resurgence in EV excitement, the former penny stock is trading higher once again.For those looking at this as one of the ESG stocks to watch right now, keep in mind that Vivo has more than just the EV play. Earlier this year the company's subsidiary was also awarded a contract to finish all electrical works for the 39MWdc Molong Solar Farm in Australia. The project will generate enough energy to power nearly 11,000 homes avoiding more than 53,000 tons of CO2 per year. Sunworks Inc.Compared to Vivo, Sunworks Inc. (NASDAQ: SUNW) is more of a pure-play on solar power and with leading companies like JinkoSolar soaring this year, attention is on solar energy stocks as well. While JKS shares saw a near 300% move since the first trading day of the year, Sunworks rallied more than 570% at one point this year. In November, SUNW is still up more than 375% as the push for renewable energy investing has taken the market's attention in the second half of the year. Much of the anticipation early on had focused on the pending merger with The Peck Company. The tie up would effectively form one of the largest solar companies in the market. That deal was recently terminated due to not receiving enough support from Sunworks' shareholders. This ended up becoming a positive catalyst for the company in light of the $10 million in solar project wins in Q3 as well as the two new contracts Sunworks signed in the first week of October. For those looking at ESG stocks right now, solar power has become one of the top energy niches to consider. Neither the author of this post nor Pennystocks.com have a position or financial relationship with any of the stocks mentioned above. See more from Benzinga * Click here for options trades from Benzinga * Here's What 0 Invested In 7 Electric Vehicle Penny Stocks In March Is Worth Right Now(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Is the stock market open on Thanksgiving and Black Friday? The New York Stock Exchange, Nasdaq and bond markets are fully closed on Thursday, Thanksgiving Day. On Black Friday, Nov. 27, the stock markets close early, at 1 p.
Chipmaker Advanced Micro Devices has bright prospects in its core businesses and from its pending acquisition of Xilinx, a Wall Street analyst said. AMD stock is approaching a buy point.
Yellen likely nomination of Treasury Secretary
Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in November 2020.
The December airdrop of 45 billion spark tokens may be fueling XRP's rapid climb to two-year highs, say analysts.
Jim Cramer shares insights about buying General Electric, Arcturus vaccine, and Roblox filing to go public.