5 Hydrogen Fuel Cell Stocks to Buy Today

4. Cummins Inc. (NYSE:CMI)

Number of Hedge Fund Holders: 30 

Cummins Inc. (NYSE:CMI) is a market leader in power generation, designing engines, filtration, and power generation products. Cummins Inc. (NYSE:CMI) uses hydrogen fuel cells in its ‘New Power’ business segment, which is aimed towards green energy generation. Hydrogen technology at Cummins Inc. (NYSE:CMI) benefits the agriculture, commercial power, construction, mining, marine, oil and gas, and trucking industries. 

On November 2, Cummins Inc. (NYSE:CMI) posted its Q3 earnings, reporting an EPS of $3.69, missing estimates by -$0.24. The $5.97 billion quarterly revenue was up 16.61% year-over-year, exceeding estimates by $134.77 million. 

Credit Suisse analyst Jamie Cook on November 3 raised the price target on Cummins Inc. (NYSE:CMI) to $304 from $295, citing strong demand fundamentals. The analyst kept an Outperform rating on the shares.

Out of the 867 hedge funds monitored by Insider Monkey’s database of elite funds, 30 funds were long Cummins Inc. (NYSE:CMI) in the third quarter, holding stakes worth $830 million. The leading stakeholder of Cummins Inc. (NYSE:CMI) is Jean-Marie Eveillard’s First Eagle Capital Management, with 1.94 million shares valued at over $437 million.