The hydrogen sector represents a pivotal area in the global shift towards clean and sustainable energy solutions. It encompasses a range of activities including hydrogen production, storage, and transportation. Additionally, it involves the development of fuel cell technologies. Companies within this sector are working to innovate and expand the use of hydrogen in various industries.
Investing in hydrogen stocks offers exposure to a market poised for growth in the coming years. This is especially true as governments and corporations prioritize reducing carbon emissions. However, it is a field that comes with its own set of challenges and uncertainties. The technology is still in its developmental stages in many applications, and the infrastructure for hydrogen energy is not yet widespread.
Investors looking to dive into hydrogen stocks should approach with a well-informed and strategic mindset. They need to consider the long-term potential of the sector. It is also important to account for the inherent risks associated with emerging industries. With the right approach, investing in hydrogen can provide a unique opportunity to contribute to and benefit from the transition to cleaner energy. Keeping this all on top of mind, here are three hydrogen stocks to watch in the stock market right now.
Hydrogen Stocks To Buy [Or Avoid] Right Now
- Plug Power Inc. (NASDAQ: PLUG)
- Bloom Energy Corporation (NYSE: BE)
- Air Products and Chemicals Inc. (NYSE: APD)
Plug Power (PLUG Stock)
Leading off, Plug Power Inc. (PLUG) specializes in the design and manufacturing of hydrogen fuel cell systems. These systems are integral for electric vehicles and industrial equipment. Plug Power aims to create a more sustainable future by reducing dependence on conventional energy sources.
Earlier this month, Plug Power announced its significant role in the Appalachian Regional Clean Hydrogen Hub (ARCH2). The Department of Energy selected this hub for the Regional Clean Hydrogen Hubs program. The program is part of the bipartisan infrastructure law. The event was marked with a commemoration attended by U.S. Senators Joe Manchin and Shelley Moore Capito, as well as other high-profile officials. Plug Power will serve as a key partner, vendor, and service provider throughout the hydrogen value chain for ARCH2. This hub encompasses West Virginia, Ohio, Pennsylvania, and Kentucky.
In the last month of trading, shares of PLUG stock have pulled back by 13.62%. Meanwhile as of this past Friday’s closing bell, Plug Power stock is trading at $5.90 a share.
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Bloom Energy (BE Stock)
Next, Bloom Energy Corporation (BE), provides clean, reliable, and resilient energy solutions. They focus on developing and installing solid oxide fuel cells for onsite power generation. The company’s energy servers aim to reduce greenhouse gas emissions, improve efficiency, and ensure consistent power supply.
Just last week, Bloom Energy announced the date it will report its third quarter 2023 financial results. In detail, the company said it will report its Q3 2023 financial results on November 8, 2023, after the U.S. stock market closes. To briefly recap, in Q2 of 2023, BE reported a loss of $0.32 per share, with revenue of $301.10 million.
Moreover, looking at the last month of trading, shares of BE stock have dropped by 19.77%. While, as of this past Friday’s closing bell, BE stock is trading at $9.78 a share.
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Air Products and Chemicals (APD Stock)
Finally, Air Products and Chemicals Inc. (APD) operates as a global industrial gases company. They provide essential industrial gases, related equipment, and applications across various industries, including refining, chemical, metals, electronics, and manufacturing.
At the beginning of this month, Air Products announced plans for their fiscal fourth-quarter earnings teleconference. Set for November 7, 2023, they will release their financial results before the market opens. The company will review these results in a teleconference at 8:30 a.m. Eastern Time.
In the last month of trading, shares of APD stock have dropped modestly by 1.05%. Meanwhile, as of this past Friday’s end of day, APD stock is trading at $276.15 a share.
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