11 Best Hydrogen Stocks to Buy Right Now

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9. Plug Power Inc. (NASDAQ:PLUG)

Number of Hedge Fund Holders: 27

Plug Power Inc. (NASDAQ:PLUG) is one of the best hydrogen stocks to buy right now. On December 4, Plug Power signed a letter of intent (LOI) with Hy2gen to supply a 5MW proton exchange membrane (PEM) electrolyzer. This will be installed at the Sunrhyse green hydrogen production project in Signes, France. Sunrhyse is Hy2gen’s flagship initiative focused on producing renewable, Renewable Fuels of Non-Biological Origin (RFNBO)-certified hydrogen.

The agreement establishes a basis for Plug Power to handle hydrogen transport, distribution, and provide turnkey hydrogen forklift solutions from the Sunrhyse facility. Also, the LOI extends ongoing cooperation between Plug Power and Hy2gen in Europe and North America. This includes Hy2gen’s Project Courant in Québec, Canada, which features a large-scale electrolyzer and targets final investment decision before 2027.

Separately, on November 24, H.C. Wainwright reaffirmed a Buy rating on Plug Power stock and maintained a price target of $7. The action came after Plug Power’s seventh symposium on November 18, 2025. During the event, senior management gave presentations, and incoming CEO Jose Luis Crespo hosted panels focused on the company’s customer-centered approach. The panels allowed customers to share positive views on customized solutions the company provides.

Plug Power Inc. (NASDAQ:PLUG) is an American company focused on building and operating green hydrogen production and distribution facilities. The company manufactures and deploys electrolyzers and fuel cells to produce green hydrogen.

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