Do you value the perspective of company insiders? We ran a screen with this idea in mind.
We began by compiling a universe of stocks of companies that use or produce clean sources of energy.
We then screened these names for those with the confidence of their company insiders, such as members of the board and upper management, with significant net insider purchases over the last six months representing at least 2% of share float. Since most companies only have a handful of company insiders, net insider purchases representing 2% of share float is a big show of confidence in their employer's prospects.
For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.
Do you think these stocks will rally like insiders expect? Use this list as a starting point for your own analysis.
List sorted by net insider purchases as a percent of share float.
1. FuelCell Energy Inc. (NASDAQ:FCEL): Engages in the development, manufacturing, and sale of high temperature fuel cells for clean electric power generation primarily in South Korea, the United States, Germany, Canada, and Japan. Market cap at $195.22M, most recent closing price at $1.05. Over the last six months, 1 insider bought 20,000,000 shares, which represents about 13.22% of the company's 151.25M share float.
2. Republic Services, Inc. (NYSE:RSG): Provides nonhazardous solid waste collection, transfer, and disposal services in the United States. Market cap at $10.52B, most recent closing price at $28.81. Over the last six months, 16 insiders were net buyers (8 purchase transactions by Cascade, 8 sales) of 8,527,059 shares, which represents about 2.96% of the company's 288.33M share float.
3. Heritage-Crystal Clean, Inc (NASDAQ:HCCI): Provides industrial and hazardous waste services to small and mid-sized customers in the United States. Market cap at $352.55M, most recent closing price at $19.36. Over the last six months, insiders were net buyers of 152,423 shares, which represents about 1.7% of the company's 8.94M share float. The 1 purchase transaction for 322,923 shares more than offset the 13 sale transactions totaling 170,500 shares.
*Insider data sourced from Yahoo! Finance, all other data sourced from Finviz.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.