In this article, we discuss the 5 best hydrogen fuel stocks to buy today. If you want our detailed analysis of these stocks, go directly to the 10 Hydrogen Fuel Cell Stocks to Buy Today.
5. Hyzon Motors Inc. (NASDAQ:HYZN)
Number of Hedge Fund Holders: 22
Headquartered in Rochester, New York, with operations in Europe, Singapore, Australia, and China, Hyzon Motors Inc. (NASDAQ:HYZN) is one of the top hydrogen fuel cell stocks to buy today. Hyzon Motors Inc. (NASDAQ:HYZN) is a global supplier of zero-emissions hydrogen fuel cell powered electric vehicles including trucks, buses, and coaches. On November 12, the company confirmed that 85 vehicles will be shipped before December 31 and it is expected that Hyzon Motors Inc. (NASDAQ:HYZN) vehicles will be seen in Asia, Australia, Europe, and North America by the end of the year.
On November 12, Hyzon Motors Inc. (NASDAQ:HYZN) announced its Q3 results, with EPS for the quarter totaling -$0.12, missing estimates by -$0.03. The $962,000 quarterly revenue also missed estimates by $5.13 million.
Goldman Sachs analyst Jerry Revich initiated coverage of Hyzon Motors Inc. (NASDAQ:HYZN) on October 19 with a Neutral rating and a $7 price target. He stated that Hyzon Motors Inc. (NASDAQ:HYZN) is a major player in the automotive sector, leading the industry in commercializing hydrogen fuel trucks to date.
Balyasny Asset Management is the leading stakeholder of Hyzon Motors Inc. (NASDAQ:HYZN) from Q3 2021, with 2.59 million shares worth almost $18 million. Overall, 22 hedge funds in the database of Insider Monkey from the third quarter reported owning stakes in Hyzon Motors Inc. (NASDAQ:HYZN), valued at $67.1 million.
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.
3. Air Products and Chemicals, Inc. (NYSE:APD)
Number of Hedge Fund Holders: 32
Another top hydrogen fuel cell stock is Air Products and Chemicals, Inc. (NYSE:APD), which is a company offering liquid hydrogen, hydrogen fuel cells, and compressed hydrogen gas around the world via its vast network of pipelines, hydrogen manufacturing plants, and transfill facilities. Air Products and Chemicals, Inc. (NYSE:APD) serves multiple clients from the aerospace, automotive, biotech, bioenergy, and metals and materials processing industries, among others.
On November 5, Deutsche Bank analyst David Begleiter raised the price target on Air Products and Chemicals, Inc. (NYSE:APD) to $340 from $315 and kept a Buy rating on the shares.
Air Products and Chemicals, Inc. (NYSE:APD), on November 4, announced its Q3 results. EPS in the quarter equaled $2.51, beating estimates by $0.02. The Q3 revenue came in at $2.84 billion, gaining 22.46% as compared to the preceding year quarter, outperforming estimates by $170.77 million.
At the end of the third quarter of 2021, 32 hedge funds from the database of elite funds tracked by Insider Monkey reported owning stakes in Air Products and Chemicals, Inc. (NYSE:APD), valued at $528.7 million. Adage Capital Management is the leading stakeholder of Air Products and Chemicals, Inc. (NYSE:APD), holding 351,940 shares worth $90.1 million.
2. Linde plc (NYSE:LIN)
Number of Hedge Fund Holders: 46
Linde plc (NYSE:LIN) is a leading natural gas and engineering company from the UK, and one of its main business segments includes manufacturing and distributing atmospheric gases. Linde plc (NYSE:LIN) is working on hydrogen powered vehicles, which it expects will compete with electric vehicles. Linde plc (NYSE:LIN) has also invested in wind-powered facilities and plants that convert water to hydrogen. On November 26, Citi analyst P.J. Juvekar resumed coverage of Linde plc (NYSE:LIN) with a Buy rating and $381 price target.
Linde plc (NYSE:LIN) announced its earnings for the third quarter on October 28. EPS in the period totaled $2.73, beating estimates by $0.07. The Q3 revenue equaled $7.67 billion, outperforming estimated revenue by $140.09 million.
Nicolai Tangen’s Ako Capital is the biggest Linde plc (NYSE:LIN) stakeholder from the third quarter, holding 3.8 million shares worth $1.12 billion. Overall, 46 funds in the Q3 database of Insider Monkey were bullish on Linde plc (NYSE:LIN), with total stakes worth $4.76 billion.
1. DuPont de Nemours, Inc. (NYSE:DD)
Number of Hedge Fund Holders: 51
DuPont de Nemours, Inc. (NYSE:DD) is the one of most sought after hydrogen fuel cell stocks among the hedge funds in Q3 2021, with 51 funds being bullish on DuPont de Nemours, Inc. (NYSE:DD), holding total stakes worth $1.49 billion. The leading DuPont de Nemours, Inc. (NYSE:DD) stakeholder is 40 North Management, holding a $331.45 million position in the company.
DuPont de Nemours, Inc. (NYSE:DD) is a major chemicals company that is focused on finding sustainable energy solutions from renewable sources like photovoltaics, wind, biofuels, and hydrogen fuel cells. On November 3, BMO Capital analyst John McNulty raised the price target on DuPont de Nemours, Inc. (NYSE:DD) to $101 from $96 and kept an Outperform rating on the shares.
It was reported on November 15 that DuPont de Nemours, Inc. (NYSE:DD) is setting up a new $30 million facility in China which will advance applications and produce industry-leading innovative products to support the company’s auto customers as they make the shift to electric and hybrid vehicles.
Earnings for Q3 were announced by DuPont de Nemours, Inc. (NYSE:DD) on November 2. EPS in the quarter came in at $1.15, exceeding estimates by $0.03. The revenue equaled $4.27 billion, beating estimates by $112.95 million.
Here is what Rhizome Partners has to say about DuPont de Nemours, Inc. (NYSE:DD) in its Q1 2021 investor letter:
“We have written extensively about the anticipated DuPont’s Reverse Morris Trust merger with International Flavors and Fragrances (IFF) in January of 2021. During the quarter, DuPont shares traded up significantly in anticipation of the deal. We tendered about 40% of our DuPont shares for IFF and received about half of the allocation due to pro-ration. Investors are finally starting to appreciate DuPont’s effort to cut costs, streamline operations, and spin off companies into pure-play companies that trade at higher multiples. We are still getting used to the higher multiples that investors will pay for larger market cap and pure play companies such as DuPont.”
You can also take a look at Top 10 Stock Picks of Billionaire Daniel Sundheim and 10 Safe Dividend Stocks to Invest In.
