5 Best Hydrogen and Fuel Cell Stocks to Buy in 2022

In this article, we discuss 5 best hydrogen and fuel cell stocks to buy in 2022. If you want to read about some more hydrogen and fuel cell stocks, go directly to 10 Best Hydrogen and Fuel Cell Stocks to Buy in 2022.

5. Air Products and Chemicals, Inc. (NYSE:APD)

Number of Hedge Fund Holders: 33    

Air Product and Chemicals, Inc. (NYSE:APD) provides atmospheric gasses, process and specialty gasses, equipment, and services worldwide. It is one of the top hydrogen stocks to invest in. Air Products and Chemicals, Inc. (NYSE:APD) recently announced that it plans to spend $500 million to build, own, and operate a 35 metric tons per day facility to produce green liquid hydrogen at a greenfield site in Massena, New York, as well as liquid hydrogen distribution and dispensing operations.

On October 04, investment advisory Citi kept a Neutral rating on Air Products and Chemicals, Inc. (NYSE:APD) stock and lowered price target to $251 from $272. Analyst PJ Juvekar issued the ratings update. 

At the end of the second quarter of 2022, 33 hedge funds in the database of Insider Monkey held stakes worth $375 million in Air Product and Chemicals, Inc. (NYSE:APD), compared to 39 in the previous quarter worth $859 million.

In its Q2 2022 investor letter, Madison Funds, an asset management firm, highlighted a few stocks and Air Product and Chemicals, Inc. (NYSE:APD) was one of them. Here is what the fund said:

“This quarter we are highlighting Air Products and Chemicals, Inc. (NYSE:APD) as a relative yield example in the Materials sector. APD is a leading global industrial gas supply company and is the largest supplier of hydrogen and helium in the world. It has a sustainable competitive advantage due to long-term customer relationships and contracts, high customer switching costs, and the mission critical nature of its products. Industrial gases are a relatively small fraction of customers’ overall costs but are crucial to ensure uninterrupted production.

Our thesis on APD is that it appears well-positioned for consistent double-digit growth due to a large multi-year capital allocation plan, and the need for accelerating capital expenditures by its customers. It has a $25 billion backlog driven by traditional gas investments along with new growth opportunities like gasification, green hydrogen, and carbon capture. APD’s gasification technologies help improve energy efficiency and independence, which is a key focus for its customers. The company also has a strong management team with a record of expanding margins and exemplary capital allocation (…read more)