Is Clean energy stock a buy

**Clean energy stocks are a diverse and evolving sector with varying investment prospects**, as indicated by the analysis below. Here's a detailed evaluation:

1. **Performance and Valuation Metrics**:
- **Price-to-Earnings (P/E) Ratio**: The P/E ratio is an important metric for assessing the valuation of a stock. Clean energy stocks like ReNew Energy Global (RNW) and Nextera Energy (NEP) have high P/E ratios of 52.12 and 7.96, respectively. These ratios suggest that investors are willing to pay a premium for the companies' earnings, which could be indicative of growth prospects.
- **Price-to-Book (P/B) Ratio**: The P/B ratio provides insight into the market's valuation of a company relative to its book value. NuScale Power (SMR) and Bloom Energy (BE) have high P/B ratios of 18.24 and 6.38, respectively. These ratios suggest that the market values these companies' assets more highly than their book value.

|code|stock code|stock name|GICS Sub-Industry|P/E(TTM)[20240813]|market_code|
|---|---|---|---|---|---|
|RNW|RNW.O|ReNew Energy Global|Renewable Electricity|52.120541|186|
|ENLT|ENLT.O|Enlight Renewable|Renewable Electricity|34.096303|185|
|ORA|ORA.N|Ormat Technologies|Renewable Electricity|33.292756|169|
|MNTK|MNTK.O|Montauk Renewables|Renewable Electricity|33.256878|186|
|NEP|NEP.N|Nextera Energy|Renewable Electricity|7.95871|169|
|BEPC|BEPC.N|Brookfield|Renewable Electricity|3.625489|169|
|ALCE|ALCE.O|Alternus Clean|Renewable Electricity|-0.237432|186|
|BNRG|BNRG.O|Brenmiller Energy|Renewable Electricity|-0.382921|186|
|VVPR|VVPR.O|VivoPower|Renewable Electricity|-0.424741|186|
|POLA|POLA.O|Polar Power|Renewable Electricity|-0.873792|186|

|code|stock code|stock name|GICS Sub-Industry|Price to Book Ratio[20240813]|market_code|
|---|---|---|---|---|---|
|SMR|SMR.N|NuScale Power|Renewable Electricity|18.241319756031366|169|
|BE|BE.N|Bloom Energy|Renewable Electricity|6.378809790031021|169|
|NMG|NMG.N|Nouveau Monde|Renewable Electricity|3.01409495285325|169|
|VVPR|VVPR.O|VivoPower|Renewable Electricity|2.7614997036839295|186|
|NPWR|NPWR.N|NET Power|Renewable Electricity|2.612194650832654|169|
|MNTK|MNTK.O|Montauk Renewables|Renewable Electricity|2.458045163774229|186|
|WAVE|WAVE.O|EWPG Holding AB|Renewable Electricity|2.448924575353872|186|
|BEP|BEP.N|Brookfield Renewable|Renewable Electricity|2.03584965522694|169|
|ORA|ORA.N|Ormat Technologies|Renewable Electricity|1.8534344628956207|169|
|RNW|RNW.O|ReNew Energy Global|Renewable Electricity|1.6745594738882479|186|

2. **Technical Indicators**:
- **Moving Averages**: The 10-day and 50-day moving averages for most clean energy stocks are quite close, indicating a potential consolidation period.
- **Resistance and Support Levels**: Resistance levels are generally close to the current trading prices, suggesting that breaking through these levels could be crucial for further price appreciation.
- **Relative Strength Index (RSI)**: The RSI for several clean energy stocks, such as Nouveau Monde (NMG) and VivoPower (VVPR), are above 60, which could indicate that these stocks are overbought.

|code|stock code|stock name|GICS Sub-Industry|Resistance Level (Narrow)[20240812]|market_code|
|---|---|---|---|---|---|
|ORA|ORA.N|Ormat Technologies|Renewable Electricity|72.6952|169|
|BEPC|BEPC.N|Brookfield|Renewable Electricity|28.078|169|
|BEP|BEP.N|Brookfield Renewable|Renewable Electricity|24.883|169|
|NEP|NEP.N|Nextera Energy|Renewable Electricity|24.4761|169|
|ENLT|ENLT.O|Enlight Renewable|Renewable Electricity|16.506|185|
|BE|BE.N|Bloom Energy|Renewable Electricity|11.261|169|
|SMR|SMR.N|NuScale Power|Renewable Electricity|9.339|169|
|NPWR|NPWR.N|NET Power|Renewable Electricity|8.436|169|
|RNW|RNW.O|ReNew Energy Global|Renewable Electricity|5.9895|186|
|MNTK|MNTK.O|Montauk Renewables|Renewable Electricity|4.4407|186|

|code|stock code|stock name|Support Level (Narrow)[20240812]|market_code|
|---|---|---|---|---|
|BRK.A|BRK.A.N|Berkshire Hathaway A|639684.0804|169|
|NVR|NVR.N|NVR|8361.9849|169|
|BKNG|BKNG.O|Booking Holdings|3397.644|185|
|AZO|AZO.N|Autozone|3101.2732|169|
|SEB|SEB.A|Seaboard|3002.7866|170|
|FCNCA|FCNCA.O|First Citizens Bancshares|1927.3536|185|
|MELI|MELI.O|Mercadolibre|1869.6533|185|
|FICO|FICO.N|Fair Isaac|1693.3707|169|
|WTM|WTM.N|White Mountains Insurance Group|1655.7977|169|
|MKL|MKL.N|Markel Group|1479.0129|169|

|code|stock code|stock name|GICS Sub-Industry|RSI[20240813]|market_code|
|---|---|---|---|---|---|
|NMG|NMG.N|Nouveau Monde|Renewable Electricity|71.8363|169|
|VVPR|VVPR.O|VivoPower|Renewable Electricity|68.7644|186|
|ENLT|ENLT.O|Enlight Renewable|Renewable Electricity|64.0257|185|
|SMR|SMR.N|NuScale Power|Renewable Electricity|60.3153|169|
|SPRU|SPRU.N|Spruce Power Holding|Renewable Electricity|54.0109|169|
|NEP|NEP.N|Nextera Energy|Renewable Electricity|52.7465|169|
|BE|BE.N|Bloom Energy|Renewable Electricity|52.1355|169|
|BEP|BEP.N|Brookfield Renewable|Renewable Electricity|51.3957|169|
|NPWR|NPWR.N|NET Power|Renewable Electricity|51.0497|169|
|RNW|RNW.O|ReNew Energy Global|Renewable Electricity|49.4997|186|

3. **Analyst Ratings and Price Targets**: There is no average price target available for clean energy stocks. The consensus rating for Bloom Energy (BE) and Brookfield Renewable (BEP) is "Neutral". This suggests that analysts do not have a strong buy or sell consensus on these stocks.
4. **Free Cash Flow and Debt**: Some clean energy companies, like Brookfield Renewable (BEP), have strong free cash flow of $3.94 billion, which is a positive sign. However, companies like ReNew Energy Global (RNW) have negative free cash flow of $-31.82 million, which could be a concern.

|code|stock code|stock name|GICS Sub-Industry|Free Cash Flow[20240630]|market_code|
|---|---|---|---|---|---|
|BEP|BEP.N|Brookfield Renewable|Renewable Electricity|3.93676E9|169|
|ORA|ORA.N|Ormat Technologies|Renewable Electricity|3.20276150427E8|169|
|NEP|NEP.N|Nextera Energy|Renewable Electricity|2.0764E8|169|
|ENLT|ENLT.O|Enlight Renewable|Renewable Electricity|1.0289417548E8|185|
|NPWR|NPWR.N|NET Power|Renewable Electricity|2.1763785599E7|169|
|MNTK|MNTK.O|Montauk Renewables|Renewable Electricity|1.8356894688E7|186|
|RNW|RNW.O|ReNew Energy Global|Renewable Electricity|-3.1823417319699E7|186|
|FCEL|FCEL.O|Fuelcell Energy|Renewable Electricity|-6.1515E7|185|
|SMR|SMR.N|NuScale Power|Renewable Electricity|-7.0348E7|169|
|BE|BE.N|Bloom Energy|Renewable Electricity|-5.948617713E8|169|

5. **Recent News and Developments**: Recent positive news, such as the 36.26% increase in VivoPower (VVPR) and the 20.88% increase in Nouveau Monde (NMG), could be indicative of investor confidence.

In conclusion, while some clean energy stocks like ReNew Energy Global and Nextera Energy have high growth expectations, others like Bloom Energy and Brookfield Renewable have more stable profiles. Investors should consider their risk tolerance, investment horizon, and the specific characteristics of each stock when deciding whether to buy clean energy stocks. It's also advisable to monitor technical indicators and analyst ratings for potential changes in the market's sentiment towards these stocks.