5 Best Clean Energy Stocks to Buy Today

4. Plug Power Inc. (NASDAQ:PLUG)

Number of Hedge Fund Holders: 34

Plug Power Inc. (NASDAQ:PLUG) is a hydrogen fuel cell company based in New York that ranks fourth on the list of the 9 best clean energy stocks to buy today. Plug Power Inc. (NASDAQ:PLUG) markets fuel cell engines for electric vehicles (EVs), automated guided vehicles (AGVs), and unmanned aerial vehicles (UAVs). The company also offers clean power backup solutions to data centers and telecom networks.

In June, Plug Power Inc. (NASDAQ:PLUG) teamed up with a French car manufacturer Renault SA (OTC:RNLSY) to develop and market hydrogen-powered light commercial trucks and hydrogen charging stations in Europe by the end of 2021. The stock has gained 4.33% in the previous month. 

On September 20, Plug Power Inc. (NASDAQ:PLUG) announced plans to build a new manufacturing facility in Fresno County, California, capable of producing 30 metric tons of liquid green hydrogen per day. The stock has gained 2.3% on September 23 after investment bank Piper Sandler upgraded Plug Power Inc.(NASDAQ:PLUG) to Overweight from Neutral with a $33 price target.

The company has a market cap of $15.5 billion. In the second quarter of 2021, Plug Power Inc. (NASDAQ:PLUG) reported an EPS of -$0.18, missing estimates by -$0.11. Yet, the company delivered solid Q2 results in August with net revenue of $124.6 million, an increase of 83% year over year, and beat revenue estimates by $13.4 million. Shares of Plug Power Inc. (NASDAQ:PLUG) increased 140% in the past twelve months.

At the end of the second quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $878 million in Plug Power Inc. (NASDAQ:PLUG), up from 25 hedge funds in the previous quarter worth $612 million.