In this piece, we will take a look at the five most promising hydrogen and fuel cell stocks according to analysts. If you want to take a deeper look at all the latest developments in the hydrogen and fuel cell industry, then check out 13 Most Promising Hydrogen and Fuel Cell Stocks According to Analysts.
5. Bloom Energy Corporation (NYSE:BE)
Latest Average Analyst Share Price Target: $20.64
Latest Share Price Percentage Upside: 39%
Bloom Energy Corporation (NYSE:BE) is a pure play fuel cell company whose products enable users to generate electricity from hydrogen and other sources. It is ending 2023 on a strong note after having extended a fuel cell distribution agreement with a large South Korean business conglomerate.
As of Q3 2023 end, 29 out of the 910 hedge funds part of Insider Monkey’s database had bought and owned Bloom Energy Corporation (NYSE:BE)’s shares. Philippe Laffont’s Coatue Management was the biggest shareholder as it owned 3.4 million shares that are worth $45.8 million.
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4. Ballard Power Systems Inc. (NASDAQ:BLDP)
Latest Average Analyst Share Price Target: $5.49
Latest Share Price Percentage Upside: 49%
Ballard Power Systems Inc. (NASDAQ:BLDP) is a diversified hydrogen and fuel cell company whose products enable fuel cell power generation for automotive use. It’s one of the more poorly rated stocks on our list since the average share rating is Hold. However, the average share price target of $5.49 prices in a nice 49% share price upside.
Insider Monkey dug through 910 hedge fund portfolios for their third quarter of 2023 shareholdings and found that six had held a stake in the firm. Ballard Power Systems Inc. (NASDAQ:BLDP)’s largest hedge fund investor is Ken Griffin’s Citadel Investment Group courtesy of its $19.4 million stake.
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3. Plug Power Inc. (NASDAQ:PLUG)
Latest Average Analyst Share Price Target: $9.13
Latest Share Price Percentage Upside: 102%
Plug Power Inc. (NASDAQ:PLUG) is one of the more dominant players in the hydrogen and fuel cell industry due to its diversified business model. 2023 has not been kind to the firm since its shares have lost 63% on the market year to date, in a rather unsurprising performance since the firm has missed analyst EPS estimates in all four of its latest quarters.
By the end of this year’s third quarter, 26 out of the 910 hedge funds profiled by Insider Monkey had invested in Plug Power Inc. (NASDAQ:PLUG)’s shares. Israel Englander’s Millennium Management was the biggest shareholder since it owned $25.7 million worth of shares.
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1. Hyzon Motors Inc. (NASDAQ:HYZN)
Latest Average Analyst Share Price Target: $3
Latest Share Price Percentage Upside: 253%
Hyzon Motors Inc. (NASDAQ:HYZN) is developing hydrogen fuel cell electric vehicles. Q4 2023 has been a tumultuous one for the company since it has seen its chief financial and chief technology officers both leave their roles. This hasn’t stopped Hyzon Motors Inc. (NASDAQ:HYZN) from testing its products though, since it deployed the world’s first hydrogen powered waste collection truck in Australia in October 2023.
Seven out of the 910 hedge funds profiled by Insider Monkey were Hyzon Motors Inc. (NASDAQ:HYZN)’s shareholders during Q3 2023. was the biggest shareholder due to its $ investment.
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Disclosure: None. You can also take a look at 11 Best Technology Dividend Stocks To Buy and 14 Best Hot Stocks To Buy Now.
