Is SPI Energy a Good Renewable Energy Stock to Buy?

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Shares of SPI soared 36.3% in price after the company’s Phoenix Motorcars division announced the production of its third-generation drivetrain products on June 9, 2021. Moreover, the stock has gained 353.3% over the past year, driven by bullish sentiments to close the last trading session at $5.44.

However, the stock is currently trading at a stretched valuation. In terms of trailing-12-months EV/EBITDA, SPI is currently trading at 43.77x, which is 135.4% higher than the 18.60x industry average. Its 1,760.31 trailing-12-month EV/EBIT multiple is 6,826.2% higher than the 25.42 industry average.

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