In this article, we will take a look at the Top 9 Hydrogen Stocks to Buy Now.
The hydrogen sector is facing a watershed moment, with final investment decisions for projects with an overall annual capacity of 2 megatons slated for 2026, doubling the amount from the year prior. This takes place as the global hydrogen market, which was worth $201.4 billion in 2025, is expected to climb to $305.9 billion by 2034.
Compared to 104 in 2020, there were approximately 460 active low-carbon hydrogen projects operating as of February 2026, with an approximate capacity of 2.2 million tonnes per year (mtpa). According to GlobalData’s “Hydrogen in Oil and Gas” report, global hydrogen output capacity might reach 82.3 mtpa by 2030, assuming ongoing development initiatives. That said, the market seems to lack large-scale projects. Speaking on this, Ravindra Puranik, Oil and Gas Analyst at GlobalData, said the following:
“Despite an impressive increase in count of active low-carbon hydrogen projects, capacity additions remain far below the levels needed to meet the near-term targets set by the IEA Net Zero Emissions (NZE) scenario.”
On the other hand, the IEA noted that technologies frequently “experience cycles of exuberance followed by consolidation before stabilizing around the most viable opportunities” in its Energy Technology Perspectives 2026 report. The organization claims that although the hydrogen “bubble may be weakening, it is far from bursting.”
Our Methodology
We used screeners to identify Best Hydrogen and Fuel Cell Stocks and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
9. Ballard Power Systems Inc. (NASDAQ:BLDP)
Ballard Power Systems Inc. (NASDAQ:BLDP) ranks among the top hydrogen stocks to buy now. Ballard Power Systems Inc. (NASDAQ:BLDP) released earnings for the first quarter of 2026 on May 5, with an EPS of -0.04, which exceeded the expectations of -0.06, representing a 33.33% positive surprise. Despite marginally missing revenue estimates, the company achieved a 26% year-over-year revenue growth, totaling CAD 19.4 million.
Additionally, Ballard Power’s gross margin improved by 14% from a significantly negative level a year ago, marking the company’s third consecutive positive quarter. Operating expenses fell 36%, while operating cash burn was reduced by around 65%. Management followed this up with tight 2026 guidance, with capex of $5M–$10M and total operating expense of $65M–$75M.
On the commercial front, Ballard Power Systems Inc. (NASDAQ:BLDP) secured multi‑year FCmove‑SC fuel‑cell engine partnerships with New Flyer, Wrightbus, and Solaris. The Solaris agreement grows the company’s relationship until 2029 and ties Ballard Power directly to next‑gen hydrogen bus fleets throughout Europe.
Ballard Power Systems Inc. (NASDAQ:BLDP) designs, develops, manufactures, sells, and services fuel cell products. It specializes in power products for bus, truck, rail, marine, stationary, and developing-market applications, as well as service delivery, including technical solutions, after-sales services, and training.
8. New Jersey Resources Corporation (NYSE:NJR)
New Jersey Resources Corporation (NYSE:NJR) ranks among the top hydrogen stocks to buy now. On May 20, Argus upgraded the price target for New Jersey Resources Corporation (NYSE:NJR) to $63 from $58 while maintaining a Buy rating on the company’s shares following its fiscal second-quarter 2026 earnings, which exceeded forecasts.
New Jersey Resources Corporation (NYSE:NJR) reported net financial earnings per share of $2.20 for the quarter, rising 24% from $1.78 in the same period the previous year. The results came in far above analyst forecasts, with the company’s Energy Services sector taking advantage of unpredictable winter market circumstances.
Overall, the Energy Services segment had the best performance, providing $37.0 million in Q2 NFE and $45.4 million year-to-date, thanks to natural gas price swings and the company’s long-option positioning approach. Clean Energy Ventures, on the other hand, recorded a $1.3 million loss in the second quarter and $39.8 million year-to-date, indicating the onset of project development and construction operations.
New Jersey Resources Corporation (NYSE:NJR) is a holding company. It provides regulated natural gas distribution, transmission, and storage services, as well as certain unregulated enterprises. It operates across five segments: natural gas distribution, clean energy ventures, energy services, storage and transportation, and home services and other services.
