10 Best Hydrogen Stocks to Buy According to Billionaires

6. Plug Power Inc. (NASDAQ:PLUG)

Number of Billionaires: 8

Plug Power Inc. (NASDAQ:PLUG) is a global leader in hydrogen fuel cell technology, offering alternative energy solutions for the green hydrogen economy. The company designs and manufactures hydrogen systems that replace lead-acid batteries in electric material-handling vehicles and industrial trucks, serving major distribution and manufacturing operations and positioning as one of the best hydrogen stocks to buy.

In January 2025, Plug Power Inc. (NASDAQ:PLUG) secured a major milestone—a $1.66 billion loan guarantee from the U.S. Department of Energy to fund up to six hydrogen production and liquefaction projects across the U.S. This move significantly strengthens the company’s position in scaling low-carbon hydrogen infrastructure.

Despite macroeconomic volatility, Plug Power Inc. (NASDAQ:PLUG) closed at $1.22 on April 5, gaining 0.83% and outperforming broader indices, which saw sharp losses. Financially, the company posted $191.47 million in Q4 revenue and $628.81 million overall in 2024. However, revenue declined 29.45% year-over-year and remained flat quarter-over-quarter.

Analyst sentiment remains cautious with 28 ratings: 29% Buy and 50% Hold, reflecting tempered confidence. As Plug Power leans on federal support and project execution, its long-term prospects hinge on green hydrogen demand and successful commercialization at scale.