Green hydrogen stocks have been a buzz word trending in the stock market in recent months. Investors have started to shift their attention to renewable energy. Though most of the attention in the stock market this year has been on electric vehicles (EV) stocks and solar energy stocks, green hydrogen stocks have also started to gain more attention among investors. Top hydrogen stocks like Plug Power (PLUG Stock Report) and Cummins (CMI Stock Report) have delivered big gains to investors this year.
A report from AleaSoft reported that the “Hydrogen will be the fuel of the future and step by step it will replace all current fossil fuels” may have a substantial basis. According to a report published by the International Energy Agency, the demand for hydrogen has tripled since 1975.
Under a Biden / Harris administration, the United States will most likely see big money invested into renewable energy, specifically hydrogen infrastructure over the next 10+ years. On top of that, the first of the European Union’s three-stage strategy to focus on hydrogen as a clean energy solution is already in progress. Investors could anticipate seeing demand for hydrogen energy increase relatively quickly. As the prospects for green hydrogen stocks seem to be positive, let’s take a closer look at these three top green hydrogen stocks to watch in the stock market this upcoming week.
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First up on the list is FuelCell Energy (FCEL Stock Report). FuelCell Energy is a global leader in sustainable clean energy technologies that address some of the world’s most critical challenges around energy, safety, and global urbanization. FuelCell has been of the best green hydrogen stocks to watch in the market as of late. In the last 30 days, FCEL stock has increased an impressive 192.93% closing Friday’s trading session at $7.88 a share. This comes on the heels of investors that are betting on renewable energy stocks as President-Elect Joe Biden is set to come into office in 2021.
Though the company had a disappointing third-quarter earnings, the overall bullish sentiment over renewable energy has driven FCEL stock higher these past few months. A part of this is anticipation that a Biden administration will speed up the shift to renewable energy. It’s important to note that green energy initiatives and implementation does in fact take time. However, with investors more focused on the future potential of green renewable energy, is FCEL a green hydrogen stock to watch in the stock market this week?Best Green Hydrogen Stocks To Buy [Or Avoid] This Week: Bloom Energy
Next on the list of the top green hydrogen stocks is Bloom Energy (BE Stock Report). Bloom Energy has been gaining traction as a pure-play fuel-cell stock. The company’s goal is to redefine the electric power market through its on-site electric power solution. BE stock has been riding the renewable energy wave in the stock market this year. Its solution delivers clean and sustainable power, and also uses electrolyzers that make hydrogen, which go into the fuel cells. Bloom Energy has been open about its plan to grab a piece of the hydrogen economy.
In the last 30 days, BE stock price has jumped 36.73%closing Friday’s trading session at$24.68.Year-to-date BE stock is up 213.19%. Just last month Bloom Energy announced they have won a competitive Request for Proposal to supply solid-oxide fuel cells powered by 100 percent hydrogen and electrolyzers in Korea. Bloom Energy will supply1.8 megawatts of hydrogen-powered fuel cells through a multi-stage deployment from late 2021 into 2022. It looks like Bloom Energy is well-positioned to be the beneficiary from the growth within the hydrogen niche for years to come. With that being said, is BE stock the best green hydrogen stocks to buy and hold this week?Best Green Hydrogen Stocks To Buy [Or Avoid] This Week: Ballard Power Systems
Last on the list of top green hydrogen stocks to watch this week, is Ballard Power Systems (BLDP Stock Report). The Canadian-based company is a global provider of innovative clean energy and fuel cell solutions. The company develops and manufactures proton exchange membrane fuel cell products. In the last month of trading, BLDP stock has increased 21.78% hitting $19.68 a share as of 4:00 pm EST Friday.
The company reported its latest third-quarter earnings in November. They reported a 4% year-over-year increase in total revenue. A big piece of this was due to the 161% year-over-year increase in its Heavy-Duty Motive revenue. Ballard also reported an increase in shipments of fuel cell products to China. It also notched in a 540% surge in Backup Power revenue at the same time due to an increase in shipments to European customers.
Back in October, Ballard signed a definitive agreement with Audi AG. The deal includes the FCgen®-HPS which is a high-performance, zero-emission PEM fuel stack. Basically, the FCgen®-HPS is fully designed and developed by Ballard and Audi AG via their joint Technology Solutions program. The deal marks another power density milestone for BLDP stock as it expands Ballard’s rights to distribution. With all that said, could BLDP stock deserve a spot on your watchlist this week?