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The buzz on renewable fuel just won't go away.

Brazil uses soybeans and we use corn. Green Plains Renewable Energy (NASDAQ:GPRE) states it is North America's fourth largest ethanol producer, operating six ethanol plants in Indiana, Iowa, Nebraska and Tennessee with a combined expected operating capacity of 480 million gallons of ethanol per year. GPRE also operates an independent third-party ethanol marketing service that currently provides marketing services to its affiliated plants as well as three third-party ethanol producers with expected operating capacity of 305 million gallons per year. Green Plains owns 51% of Blendstar, LLC, a Houston-based biofuel terminal operator with six facilities in five states. Green Plains' agribusiness segment operates grain storage facilities and complementary agronomy, feed, and fuel businesses in northern Iowa and southern Minnesota.

On a fundamental analysis basis, analysts give the stock a strong buy rating and expect a 20.7 revenue growth with a price target of 15, which is 35% higher than its present price of around 11.

The stock came up on my BarChart filtering of the stocks hitting the most frequent new high with 13 new highs in the last 20 trading session and 5 for 5 recently. There has been a price appreciation of 70.62% in the last 65 days. BarChart's technical analysis indicators give it a 13 out of 13 buy signal for a 100% buy rating.

Additional positive ratings come from Wall Street Survivor, where Mark's checklist has a Survivor Sentiment at 5/5 and Louis Navellier's Portfolio Grader has it a buy with a "B" rating overall and an A quantitative rating. I'm glad that more people have noticed it.

Recommendation: I'm adding this to my Marketocracy New High portfolio and if you have room in your portfolio for a renewable energy company then buy Green Plains Renewable Energy around 11 with a protective stop loss no lower than 9.

Source: Green Plains Renewable Energy: A Smart Play in Ethanol