In this article, we discuss the 5 best hydrogen fuel cell stocks to buy. If you want to read our detailed analysis of these companies, go directly to the 9 Best Hydrogen Fuel Cell Stocks To Buy.
5. Ballard Power Systems Inc. (NASDAQ:BLDP)
Number of Hedge Fund Holders: 15
Ballard Power Systems Inc. (NASDAQ:BLDP), which ranks fifth on the list of the 9 best hydrogen fuel cell stocks to buy, supplies top of the line heavy-duty modules, fuel cell stacks, backup power systems to major companies including Siemens, Audi AG, Plug Power Inc. (NASDAQ:PLUG), and Van Hool.
On September 23, Piper Sandler analyst Pearce Hammond maintained a Neutral rating on Ballard Power Systems Inc. (NASDAQ:BLDP) with a price target of $12 per share.
In the second quarter of 2021, Ballard Power Systems Inc. (NASDAQ:BLDP) reported an EPS of -$0.07, missing estimates by -$0.02. The company’s revenue in the second quarter came in at $24.96 million and beat revenue estimates by $3.78 million.
Of the 873 elite funds tracked by Insider Monkey, 15 were long Ballard Power Systems Inc. (NASDAQ:BLDP) at the end of the second quarter of 2021. Paul Marshall And Ian Wace of Marshall Wace LLP are the leading stakeholders of the company owning 3.19 million shares worth $58.7 million.
4. Bloom Energy Corporation (NYSE:BE)
Number of Hedge Fund Holders: 20
Bloom Energy Corporation (NYSE:BE) is one of the biggest providers of hydrogen fuel cell power globally and it is placed on the fourth spot on the list of 9 best hydrogen fuel cell stocks to buy. The California-based power generation company supplies clean energy to some of the largest corporations in the world such as Alphabet Inc. (NASDAQ:GOOG), Comcast Corporation (NASDAQ:CMCSA), Adobe Inc. (NASDAQ:ADBE), and Morgan Stanley (NYSE:MS).
Bloom Energy Corporation (NYSE:BE) saw its stock rise 1.7% in pre-market trade on July 21 after the company announced the first Combined Heat and Power project in partnership with SK Engineering, which is South Korea’s first utility-scale solid oxide fuel cell CHP venture.
On September 30, BMO Capital analyst Ameet Thakkar initiated a Market Perform rating on Bloom Energy Corporation (NYSE:BE) with a price target of $22 per share. Meanwhile, David Shaw of D E Shaw, a quantitative hedge fund manager, is one of Bloom Energy Corporation’s (NYSE:BE) top stockholders, with 791,743 shares valued at $21.3 million at the end of the second quarter of 2021.
In the second quarter of 2021, Bloom Energy Corporation (NYSE:BE) reported an EPS of -$0.23, missing estimates by -$0.18. The company’s second-quarter revenue was $228.47 million, an increase of 21.6% year over year. The stock has gained 6.89% in the past twelve months.
3. Plug Power Inc. (NASDAQ:PLUG)
Number of Hedge Fund Holders: 34
Plug Power Inc. (NASDAQ:PLUG), which ranks third on the list of the 9 best hydrogen fuel cell stocks to buy, is one of the leading players in the hydrogen fuel cell power sector. On October 13, Morgan Stanley analyst Stephen Byrd upgraded Plug Power Inc. (NASDAQ:PLUG) to Overweight from Equal Weight, citing that the hydrogen fuel cell company is well-positioned to gain in the global transition to a low-carbon economy. The analyst increased the price target for Plug Power Inc. (NASDAQ:PLUG) to $40 from $35.
In the second quarter of 2021, Plug Power Inc. (NASDAQ:PLUG) reported an EPS of -$0.18, missing estimates by -$011. The company’s revenue in the second quarter was $124.56 million and beat revenue estimates by $13.35 million. Shares of Plug Power Inc. (NASDAQ:PLUG) climbed 87% over the past year.
In the recent quarter, Plug Power, Inc. (NASDAQ:PLUG) has seen an uptick from the world’s largest hedge funds. At the end of the second quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $878 million in Plug Power Inc. (NASDAQ:PLUG), up from 25 hedge funds in the previous quarter worth $612 million.
David Shaw of D E Shaw recently upped his stake in Plug Power Inc. (NASDAQ:PLUG) by 23% to 14.8 million shares worth over $507 million at the end of the second quarter of 2021. Overall, 34 funds of the 873 elite funds tracked by Insider Monkey reported owning stakes in the New York-based hydrogen fuel cell company at the end of June 2021.
2. Cummins Inc. (NYSE:CMI)
Number of Hedge Fund Holders: 45
Truck engine maker Cummins Inc. (NYSE:CMI) ranks second on the list of the 9 best hydrogen fuel cell stocks to buy. The Indiana-based company provides hydrogen fuel cell technology used to power heavy-duty trucks, buses, trains, boats, and tractors. In addition, Cummins Inc. (NYSE:CMI) also offers stationary storage systems and fuel cell-powered energy backup.
On August 4, Credit Suisse analyst Jamie Cook raised the price target of Cummins Inc. (NYSE:CMI) to $307 from $300 and kept his Outperform rating.
The company has a market cap of $33.13 billion. In the second quarter of 2021, Cummins Inc. (NYSE:CMI) reported an EPS of $4.10, beating estimates by $0.07. The company’s second-quarter revenue came in at $6.11 billion, an increase of 59% year over year, and beat revenue estimates by $113.13 million. The solid quarter result of Cummins Inc. (NYSE:CMI) was driven by strong demand across the company’s key markets. Shares of Cummins Inc. (NYSE:CMI) increased 10.10% in the past twelve months.
At the end of the second quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $1.10 billion in Cummins Inc. (NYSE:CMI), up from 37 hedge funds in the previous quarter worth $817 million.
1. Linde plc (NYSE:LIN)
Number of Hedge Fund Holders: 55
Topping the list of 9 best hydrogen fuel cell stocks to buy is Linde plc (NYSE:LIN), one of the biggest pioneering suppliers of hydrogen fuel cell infrastructure in the world having more than 200 hydrogen refueling stations 80 hydrogen electrolysis plants globally.
Linde plc (NYSE:LIN) also started building the world’s first hydrogen refueling station for passenger trains in Germany last year, which is set to operate in early 2022. Linde plc (NYSE:LIN) shares are up 12.3%, year to date.
On September 17, Societe Generale analyst Peter Clark kept a Buy rating on Linde plc (NYSE:LIN) and increased his price target for the stock to $365 from $350.
In the second quarter of 2021, Linde plc (NYSE:LIN) reported an EPS of $2.70, beating estimates by $0.17. The company’s revenue in the second quarter was $7.58 billion, an increase of 19% year over year, and beat revenue estimates of $202.68 million. Shares of Linde plc (NYSE:LIN) increased 28% in the past year.
At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $5.92 billion in Linde plc (NYSE:LIN), up from 43 hedge funds in the previous quarter worth $4.63 billion.
You can also take a peek at the 11 Best Robinhood Stocks To Buy According To Hedge Funds and Why These 10 Stocks Are Trending on Wednesday.
