5 Best Russell 2000 Stocks To Buy Now

3. Chart Industries, Inc. (NYSE:GTLS)

Number of Hedge Fund Holders: 43

Chart Industries, Inc. (NYSE:GTLS) is a manufacturer and distributor of engineered cryogenic equipment used in industrial gas and clean energy markets worldwide. The company operates through four segments – Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. Chart Industries, Inc. (NYSE:GTLS) is one of the best Russell 2000 stocks to watch. 

On July 25, Chart Industries, Inc. (NYSE:GTLS) announced that it has been chosen by Dalian Clean Energy Group to supply hydrogen compression solutions for their hydrogen production project in China. The project will be executed in several phases, with an initial investment of approximately $112 million for the first phase, which includes the construction of 100 MW of solar photovoltaic and 60 MW of hydrogen production. The project is expected to be completed and operational by October 2023 and aims to generate 137 million KWH/year of green electricity and produce 2,000 tons/year of green hydrogen.

According to Insider Monkey’s first quarter database, Chart Industries, Inc. (NYSE:GTLS) was part of 43 hedge fund portfolios, compared to 55 in the last quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP is the largest stakeholder of the company, with 650,983 shares worth $81.6 million. 

Aristotle Atlantic Large Cap Growth Strategy made the following comment about Chart Industries, Inc. (NYSE:GTLS) in its Q1 2023 investor letter:

“Chart Industries, Inc. (NYSE:GTLS) is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Its unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart’s customers are mainly large, multinational producers and distributors of hydrocarbon and industrial gasses. The company generates about half its sales in North America.

We see Chart Industries as a leading manufacturer of highly engineered cryogenic solutions that are used for the production and storage of industrial gasses. With the exposure to energy end markets including liquified natural gas (LNG), compressed natural gas (CNG) and hydrogen, the company has the technology to ship gas from oversupplied markets to markets that do not have access to enough energy resources. Hydrogen is gaining traction as a renewable fuel due to the focus on climate change. The recent acquisition of Howden is complementary to Chart’s existing product and service offerings.”