5 Best Hydrogen and Fuel Cell Stocks to Buy in 2022

4. Cummins Inc. (NYSE:CMI)

Number of Hedge Fund Holders: 36   

Cummins Inc. (NYSE:CMI) designs, manufactures, distributes, and services diesel and natural gas engines, electric, and hybrid powertrains, as well as related components worldwide. It is one of the best hydrogen stocks to invest in. Cummins Inc. (NYSE:CMI) recently announced that it had been selected by Atura Power to design and manufacture a 20MW electrolyzer system for its Niagara Hydrogen Centre in Niagara Falls, Ontario. The proton exchange membrane electrolysis system, manufactured at the Mississauga facility of Cummins Inc. (NYSE:CMI), will become the center piece of Atura Power’s Niagara Hydrogen Centre. 

On August 18, JPMorgan analyst Tami Zakaria reinstated coverage of Cummins Inc. (NYSE:CMI) stock with a Neutral rating and lowered the price target to $245 from $264, remarking that Cummins Inc. (NYSE:CMI) will be in investment mode over the near and medium term as it develops zero emission solutions for commercial vehicles.

At the end of the second quarter of 2022, 36 hedge funds in the database of Insider Monkey held stakes worth $462.8 million in Cummins Inc. (NYSE:CMI), compared to 35 in the preceding quarter worth $584 million.