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10 Hydrogen Fuel Cell Stocks to Buy Today

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·8 min read
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  • BE
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  • LIN

In this article, we discuss the 10 best hydrogen fuel stocks to buy today. If you want to skip our detailed analysis of these stocks, go directly to the 5 Hydrogen Fuel Cell Stocks to Buy Today.

Hydrogen fuel is an attractive source for power generation, transportation, domestic, and industrial applications, since it is a clean energy option and hydrogen can be easily formed via natural gas, nuclear power, biomass, and renewable power like solar and wind. Hydrogen fuel can be created through multiple ways, including electrolysis, natural gas reforming, and solar processes.

Hydrogen fuel cells are growing in popularity as a power source, since they operate like a battery, but do not need to be recharged as long as fuel is being supplied. In 2020, the global market for hydrogen fuel cells was valued at $264.2 million, and by the end of 2027, it is expected to grow at a CAGR of 26.2% to $1,341.9 million, with countries like Germany, the UK, the US, Japan, and China being the major contributors to the advancement of this technology.

The main reason for the increasing popularity of hydrogen fuel cells is the growing interest and investment in electric vehicles. Famous automobile manufacturers like Toyota Motor Corporation (NYSE:TM), Honda Motor Co., Ltd. (NYSE:HMC), and Hyundai Motor Company (OTC:HYMTF) are actively involved in the production of electric vehicles using hydrogen fuel cells, and bespoke luxury automobile manufacturers like BMW, Vauxhall Motors, and Land Rover are planning to release hydrogen powered vehicles in the next five years.

10 Hydrogen Fuel Cell Stocks to Buy Today
10 Hydrogen Fuel Cell Stocks to Buy Today

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Some of the notable companies producing hydrogen fuel cells are FuelCell Energy, Inc. (NASDAQ:FCEL), Bloom Energy Corporation (NASDAQ:BE), Linde plc (NYSE:LIN), and Air Products and Chemicals, Inc. (NYSE:APD), among others discussed in detail below.

Our Methodology

With this context in mind, let’s discuss the 10 best hydrogen fuel cell stocks to buy today. We selected companies that have long-term growth catalysts and positive analyst ratings. The hedge fund sentiment around each stock was used to rank the companies.

Hydrogen Fuel Cell Stocks to Buy Today

10. Ceres Power Holdings plc (LSE:CWR.L)

Number of Hedge Fund Holders: N/A

Ceres Power Holdings plc (LSE:CWR.L) is a UK-based fuel cell technology and engineering company that aims to provide clean and cheap energy for business, industrial, and residential purposes. Ceres Power Holdings plc (LSE:CWR.L) is collaborating with strategic global partners to ensure that clean energy is embedded into mass-market energy products.

Ceres Power Holdings plc (LSE:CWR.L) has entered into a joint equity agreement with RFC Power, which is a company offering long duration energy storage. By working closely with RFC Power and helping develop and commercialize their products, Ceres Power Holdings plc (LSE:CWR.L) will hold an 8.4% stake in the company and its technology.

Analyst Will Kirkness from Jefferies on November 25 said that several of his clients had a more bullish view on Ceres Power Holdings plc (LSE:CWR.L), “seeing the natural benefit of electrolysers and fuel cells” and hoping for positive news following the partnership announcement, while the firm kept a Hold rating on the stock.

On September 30, Ceres Power Holdings plc (LSE:CWR.L) reported its financial results for the first half of 2021 ending June 30. Revenue in the period amounted to £17.4 million, up 96% from H1 2020, suggesting the success of solid commercial partnerships. The company also had a sector leading gross margin of 72%.

In addition to FuelCell Energy, Inc. (NASDAQ:FCEL), Bloom Energy Corporation (NASDAQ:BE), Linde plc (NYSE:LIN), and Air Products and Chemicals, Inc. (NYSE:APD), Ceres Power Holdings plc (LSE:CWR.L) is one of the top hydrogen fuel stocks to buy today.

9. AFC Energy plc (LSE:AFC.L)

Number of Hedge Fund Holders: N/A

Making it to our list of the best hydrogen fuel cell stocks is AFC Energy plc (LSE:AFC.L), a UK-based company offering fuel cell technology that combines hydrogen and oxygen in a non-combustion process to create electricity, heat, and water for primarily the mobility, construction and temporary power, maritime, and rail industries.

AFC Energy plc (LSE:AFC.L) is a leading name in the maritime industry, and it was announced on December 1 that the company has decided to supply its fuel cell technology to ZeroCoaster Consortium, a cargo ship company sponsored by the Norwegian government, that is looking to go green and transition to zero-emission shipping solutions.

AFC Energy plc (LSE:AFC.L) will also extend its partnership with ABB Ltd (NYSE:ABB), a Swiss multinational automation company, and provide a 200 kilowatt hydrogen fuel cell charging system for electric vehicles. The contract is worth £4 million.

8. Bloom Energy Corporation (NASDAQ:BE)

Number of Hedge Fund Holders: 18

Bloom Energy Corporation (NASDAQ:BE) is a California-based company with 19 patents related to hydrogen fuel cell technology, and has been involved in creating differentiated hydrogen solutions for industrial applications since the last 15 years. Bloom Energy Corporation (NASDAQ:BE) is known for the Bloom Energy Server, which can be configured to employ hydrogen fuel and provide an efficient, combustion-free way of renewable and reliable power generation.

Bloom Energy Corporation (NASDAQ:BE) announced its Q3 earnings on November 4, posting an EPS of -$0.20, missing estimates by -$0.11. The quarterly revenue amounted to $207.23 million, up 3.46% year-over-year, but missing estimates by $33.24 million.

On November 3, BofA analyst Julien Dumoulin-Smith raised the price target on Bloom Energy Corporation (NASDAQ:BE) to $34.50 from $23.50 and kept a Neutral rating on the shares.

Ken Griffin’s Citadel Investment Group is one of the leading stakeholders of Bloom Energy Corporation (NASDAQ:BE), holding 985,146 shares worth $18.4 million at the end of September this year. Overall, the Q3 database of Insider Monkey suggests that 18 hedge funds were bullish on Bloom Energy Corporation (NASDAQ:BE), with total stakes amounting to $42.9 million. This is comparable to 20 funds being long Bloom Energy Corporation (NASDAQ:BE) in the previous quarter, with an approximate stake value of $76.8 million.

To help the UK meet its 2050 net-zero carbon goals, Bloom Energy Corporation (NASDAQ:BE) is partnering with Conrad Energy and Electricity North West Limited to collaborate on bringing Bloom Energy Corporation (NASDAQ:BE)’s solid oxide power generation platform to the UK market, and the company expects commercial orders to commence in December 2021.

7. FuelCell Energy, Inc. (NASDAQ:FCEL)

Number of Hedge Fund Holders: 19

FuelCell Energy, Inc. (NASDAQ:FCEL) is one of the major players in the global hydrogen fuel cell market, providing top-notch fuel cell platforms that enable access to clean energy. FuelCell Energy, Inc. (NASDAQ:FCEL)’s SureSource clean energy platforms have the capacity to generate millions of megawatts of power, and it serves a diverse clientele including utility companies, municipalities, universities, government entities, and a range of industrial and commercial enterprises.

Financial results for the quarter ending July 2021 were announced by FuelCell Energy, Inc. (NASDAQ:FCEL) on September 14, posting an EPS of -$0.04, beating estimates by $0.01. Revenue for the period totaled $26.82 million, outperforming estimates by $6.19 million.

According to recent reports on November 24, FuelCell Energy, Inc. (NASDAQ:FCEL) is partnering with Toyota Motor Corporation (NYSE:TM) to provide 2.35 megawatts of electricity and 1.2 tons of hydrogen per day to support the company’s heavy duty fuel cell trucks. In addition to that, FuelCell Energy, Inc. (NASDAQ:FCEL) has extended its joint development agreement for carbon capture technology with Exxon Mobil Corporation (NYSE:XOM), and is also working with the White House to develop clean hydrogen infrastructure.

D E Shaw is the largest FuelCell Energy, Inc. (NASDAQ:FCEL) stakeholder from the third quarter, holding 5.33 million shares worth $35.6 million. Overall, 19 hedge funds were long FuelCell Energy, Inc. (NASDAQ:FCEL) in Q3 2021, up from 14 funds in the preceding quarter.

6. Plug Power Inc. (NASDAQ:PLUG)

Number of Hedge Fund Holders: 20

Plug Power Inc. (NASDAQ:PLUG) is a New York-based company that is working on hydrogen fuel cell development to replace traditional batteries in electric vehicles. Morgan Stanley analyst Stephen Byrd on November 19 suggested that Plug Power Inc. (NASDAQ:PLUG) can grow its hydrogen production and electrolyzer businesses at a fast pace and capture market share within these industry segments. Consequently, he raised the price target on Plug Power Inc. (NASDAQ:PLUG) to $65 from $43, and kept an Overweight rating on the shares.

It was revealed in a November 23 report that Plug Power Inc. (NASDAQ:PLUG) acquired Applied Cryo Technologies, a technology, equipment, and services company for the transportation, storage, and distribution of liquefied hydrogen and other cryogenic gases. This acquisition will enable Plug Power Inc. (NASDAQ:PLUG) to realize its goal of producing 1,000 tons per day of green hydrogen by 2028.

20 hedge funds in the database of Insider Monkey were bullish on Plug Power Inc. (NASDAQ:PLUG), with total stakes amounting to $360.4 million in the third quarter.

In addition to FuelCell Energy, Inc. (NASDAQ:FCEL), Bloom Energy Corporation (NASDAQ:BE), Linde plc (NYSE:LIN), and Air Products and Chemicals, Inc. (NYSE:APD), Plug Power Inc. (NASDAQ:PLUG) is one of the top hydrogen fuel stocks to buy today.

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Disclosure: None. 10 Hydrogen Fuel Cell Stocks to Buy Today is originally published on Insider Monkey.