In this article we will take a look at the 5 best energy stocks for 2021. For a detailed analysis of energy sector, go directly to the 10 Best Energy Stocks for 2021.
5. Plug Power Inc. (NASDAQ: PLUG)
Number of Hedge Fund Holders: 21
Plug Power Inc. (NASDAQ: PLUG) is a Latham-based firm that concentrates on the development of hydrogen fuel cell systems that can replace more conventional batteries in equipment and electric vehicles. These fuel cells are environment friendly compared to the conventional energy solutions. Some of the products marketed by the company include GenDrive, a hydrogen fueled PEM fuel cell system for electric vehicles, and GenFuel, a hydrogen fueling delivery, generation, storage, and dispensing system.
Plug Power Inc. (NASDAQ: PLUG) stock was picked by investment advisory Evercore as one of top five picks for the clean energy transition planned by the US government. The advisory gave the firm an Outperform rating with a price target of $42, implying a 66% upside potential.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm D E Shaw is a leading shareholder in the firm with 15.3 million shares worth more than $522 million.