In recent years, the green energy sector has become an increasingly popular investment. As such, many people have become interested in hydrogen stocks, which represent companies that are involved in various aspects of producing, distributing, or using hydrogen as a fuel source. But what exactly are hydrogen stocks and why should investors consider them? Let’s take a look.
What Are Hydrogen Stocks?
Hydrogen stocks can refer to any company that produces, distributes, or uses hydrogen as a fuel. This includes companies that produce hydrogen for fuel cells as well as those that manufacture and sell cars powered by hydrogen fuel cells. It also includes companies that produce and distribute compressed natural gas (CNG) and liquefied natural gas (LNG).
Investors who are interested in investing in green energy may want to consider investing in hydrogen stocks because they offer several advantages over other types of investments. First, they provide exposure to the fast-growing clean energy sector without the need to buy physical assets like solar panels or wind turbines. Second, they offer investors the potential to capitalize on new technology while reducing their carbon footprint at the same time. Now knowing this, let’s take a look at two hydrogen stocks to check out in the stock market today.
Hydrogen Stocks To Watch Now
Plug Power (PLUG Stock)
First, Plug Power Inc. (PLUG) is a clean energy technology company. Plug Power specializes in the design, development, commercialization, and manufacture of hydrogen fuel cell systems used in electric vehicles and stationary applications.
In November, Plug Power reported weaker-than-expected 3rd quarter 2022 financial results. In detail, the company reported a loss of $0.30 per share and revenue of $188.6 million for Q3 2022. However, Plug Power did report its revenue increased by 31.1% versus the same period, in 2021. Meanwhile, PLUG said it continues to estimate FY 2022 revenue in the range of $810 million to $878.75 million, and 2023 revenue estimates of $1.4 billion.
Meanwhile, on Tuesday, shares of PLUG stock are trading down by 7.39% at $13.86 a share. Year-to-date shares of PLUG stock are still down 51.69%. Could this mean, now is a good time to add PLUG to your watchlist at these current price levels?
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Bloom Energy (BE Stock)
Next, Bloom Energy Corporation (BE) is an American energy technology company. The company designs manufacture and sells Bloom Energy Servers, which are solid oxide fuel cells that generate electricity from a variety of fuels.
Just last month, Bloom Energy announced its Q3 2022 financial and operating results. Diving in, the company posted a loss of $0.33 per share and revenue for the quarter of $292.3 million. For context, Wall Street’s consensus estimates were a loss of $0.21 per share and revenue of $281 million. Furthermore, BE reaffirmed its guidance and said it continues to expect 2022 revenue of $1.1 billion to $1.15 billion.
Year-to-date shares of BE stock are down 9.08%. Meanwhile, in the last month of trading action BE stock has recovered 3.71%. On Tuesday mid-morning, Bloom Energy stock is trading lower by 4.47% at $20.08 a share.