Biomass stocks are publicly traded companies whose business involves growing, collecting, or using biological matter (biomass) which can be used to make some other form of energy.
Viking Energy Group, Inc. (OTCMKTS:VKIN) is an intriguing way to play this growing demand for biofuel. The company has a Membership Interest Purchase Agreement in place to acquire a Renewable diesel production facility in the corporate tax-free city of Reno, Nevada. The facility is capable of producing 43 million gallons per year, according to estimates. VKIN’s biofuel could net larger margins than average biofuel producers because there is a pretreatment center at the facility allowing the company to purchase pure feedstock rather than the pricy pre-treated feedstock many companies use in the production process. With terms of this agreement set to close soon, VKIN should be on your radar today.
Xcel Energy Inc. (NASDAQ:XEL) stock has seen witnessing high volatility over the past few months with a gain of over 5% over the past month. Moreover, the stock has jumped 3% so far this year. On Friday, XEL stock was down 0.07% to $68.97 with more than 3.01 million shares exchanged hands, below its average volume of 3.08 million shares.
Astec Industries Inc. (NASDAQ:ASTE) is another stock in the BioMass sector which has been showing consistent buying pressure. The stock has moved up 3% over the past one month. Moreover, the stock has jumped 5% so far this year. The stock is trading above 441% from its 52-week low and 11% away from its 52-week high.
CMS Energy Corporation (NYSE:CMS) stock has been consolidating after the recent rally. CMS stock ended lower by 0.96% to $63.75 with more than 2.30 million shares exchanged hands, above its average volume of 1.24 million shares. The stock is trading above 20% from its 52-week low and 3% away from its 52-week high.
WEC Energy Group Inc. (NYSE:WEC) is another stock in the biofuel sector which has been showing consistent rise. The stock has moved up 7% over the past one quarter. WEC stock closed higher by 1.06% to $96.25 in previous trading session with volume of 1.18 million shares, compared to its average volume of 1.14 million shares.
Enviva Inc. (NYSE:EVA) stock has been consolidating after the recent rally. EVA stock ended lower by 1.63% to $73.08 with more than 155k shares exchanged hands, above its average volume of 101k shares. The stock is trading above 65% from its 52-week low and 5% away from its 52-week high.
