Numerous renewable energy stocks have been rising lately as Russia’s invasion of Ukraine has caused oil prices to surge from levels that were already high due to a supply and demand imbalance. Russia supplies oil and natural gas to many European countries — and also exports some oil to the U.S.
Viking Energy Group (OTCMKTS:VKIN) may be one of the best ways to play skyrocketing energy prices. VKIN has proven oil and gas assets valued at over $96 million located in North America in Kansas, Missouri, Texas, Louisiana, and Mississippi. VKIN’s oil & gas holdings aren’t something the company speaks about regularly because it is focused on several ESG initiatives, which are covered below. However, the fact is VKIN’s assets are increasing in value rapidly and the market has yet to factor that in, which is one reason to like the company.
Viking Energy (OTCMKTS:VKIN) is unique in that not only will its oil & gas assets rise in value; but its several diversified green energy subsidiaries will also benefit as rising oil prices push people toward green alternatives. These include a Green biodiesel production facility and a carbon capture technology. Other products in the company’s green portfolio include a medical waste treatment technology and a newly acquired Electric grid optimization technology that allows for retrofitting.
ReneSola Ltd.(NYSE:SOL) stock was one of the biggest gainers and soared 36.53% to close at $8.11 on hefty volume. The company is all set to report its fourth quarter and full year ended December 31, 2021 after the U.S. stock market close on Wednesday, March 23, 2022. The Company will hold a conference call to discuss the financial results at 4:30 p.m. U.S. Eastern Time on Wednesday, March 23, 2022.
Gevo Inc (NASDAQ:GEVO) was another buzzer with a jump of 29% to $4.53. For the fourth quarter, the company reported revenue of $0.1 million for the quarter compared to $0.5 million in Q4 2020. Loss from operations of ($16.5) million for the quarter compared to ($7.6) million in Q4 2020. Non-GAAP cash EBITDA loss2 of ($10.9) million for the quarter compared to ($5.7) million in Q4 2020. Net loss per share of ($0.08) for the quarter compared to ($0.15) in Q4 2020
Gevo currently expects to construct Net-Zero 1 in Lake Preston, South Dakota. In addition to Lake Preston, Gevo has identified several other attractive greenfield sites that are at least as attractive as Lake Preston from the standpoint of fundamental economics, access to sustainable feedstocks, deployment of renewable energy and transportation of finished product to market.
Ocean Power Technologies Inc (NYSEAMERICAN:OPTT) surged over 24% to close at $1.65. The company is scheduled to report its fiscal year 2022 third quarter results for the period ending January 31, 2022, after the market closes on Monday, March 14, 2022.
OPT will host a conference call to discuss the financial results on Tuesday, March 15, 2021, at 9:00 a.m. Eastern. OPT President and CEO Dr. Philipp Stratmann will update investors on company activities, including the progress of integrating recently acquired Marine Advanced Robotics and the development of OPT’s proprietary maritime domain awareness software.
Sunworks Inc (NASDAQ:SUNW) is scheduled to report its fourth quarter and full-year financial results and provide a corporate update on Friday, March 11, 2022 at 1 p.m. ET. Sunworks is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $29.5 million, up 243.8% from the year-ago quarter.
Sunworks, Inc., through its subsidiaries, provides photovoltaic based power systems for the agricultural, commercial, industrial, public works, and residential markets in California, Massachusetts, Nevada, Oregon, New Jersey, and Hawaii.
