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.
CN Energy Group. Inc. (NASDAQ:CNEY) stock has seen witnessing high volatility over the past few months with a fall of over 38% over the past month. Moreover, the stock has slumped 40% so far this year. On Wednesday, CNEY stock was down 2.82% to $1.72 with more than 69K shares exchanged hands, below its average volume of 760K shares. Earlier the week, the company had formed strategic Cooperation with Xujin Environmental Protection Carbon Industry Co. for sharing technology, resources and expertise for their mutual benefits.
Astec Industries Inc. (NASDAQ:ASTE) is another stock in the BioMass sector which has been consolidating the gaining momentum recently. The stock has moved up 24% over the past one quarter. Moreover, the stock has jumped 6% so far this year. The stock is trading above 29% from its 52-week low and 18% away from its 52-week high.
ALLETE Inc. (NYSE:ALE) stock has been moving lower on profit booking after the rally. ALE stock ended higher by 0.16% to $62.75 with more than 243k shares exchanged hands, above its average volume of 247K shares. The stock is trading above 10% from its 52-week low and 14% away from its 52-week high. On January 25, the company begun commercial operations at its Caddo Wind site in southern Oklahoma.
Neptune Wellness Solutions Inc. (NASDAQ:NEPT) is another stock in the biofuel sector which has been showing consistent fall. The stock has moved down 35% over the past one quarter. WEC stock closed lower by 5.46% to $0.35 and made a new 52-week low of $0.3450 in previous trading session with volume of 1.15 million shares, compared to its average volume of 1.62 million shares.
CMS Energy Corporation (NYSE:CMS) stock has been consolidating after the recent rally. CMS stock ended lower by 0.35% to $62.35 with more than 1.67 million shares exchanged hands, above its average volume of 1.32 million shares. The stock is trading above 17% from its 52-week low and 5% away from its 52-week high.
