3 Hydrogen Stocks Set to Skyrocket by July 2024: Don’t Miss Out!

Stocks

Stock	Price	52 Week Range	Marketcap	EPS	Dividend Yield	Chart (24H)	Sector	Employees	Last Updated
Plug Power, Inc. PLUG	$1.22		1.19B	2.68	0.00%		Industrials	3,868	6 hours ago
Linde plc LIN	$437.96		207.12B	13.64	1.28%		Basic Materials	65,596	6 hours ago
Air Products and Chemicals, Inc APD	$263.47		58.62B	17.28	2.53%		Basic Materials	23,000	6 hours ago
Global X Hydrogen ETF HYDR	$15.59		0.0000	0.00	0.54%			0	6 hours ago

The hydrogen industry is standing at an intriguing crossroads. Delays in the Biden Administration’s 45V tax credit rules have stirred uncertainty, yet this cloud has a silver lining. These delays present a golden opportunity to snag hydrogen stocks while the market is wavering. The hydrogen sector is poised to be a significant player in achieving net-zero emissions, making it a compelling investment with far-reaching environmental benefits.

Why now, you ask? The anticipation surrounding the upcoming tax credits is creating a fertile ground for savvy investors. As the world pivots towards more sustainable energy sources, hydrogen is emerging as a cornerstone technology. We all know that when the rules are finally loosened, it could catapult the U.S. a step closer to cutting emissions as envisioned. Hydrogen — which only produces water vapor and warm air—is key to helping the U.S. achieve its net-zero emission goals. Investing now, during this market softness, could yield substantial future growth, ensuring you’re well-positioned when the regulatory landscape stabilizes. Let’s delve into three hydrogen stocks that stand out as stellar investment opportunities amid this dynamic backdrop.

Editor's Note: Analysis and insight for this article were originally sourced from our friends at [Website Name](Link: https://investorplace.com/?p=3043174)

Plug Power, Inc.

PLUG

$1.22

1%

Plug Power (NASDAQ: PLUG)

When you think of a company that’s charging ahead in the hydrogen market despite regulatory uncertainties, Plug Power leaps to mind. CEO Andy Marsh exudes confidence about the future of 45V tax rules and the company’s direction, setting the tone for robust forward momentum. Even with the rules yet to be finalized, Plug Power is already strategizing to leverage anticipated tax credits.

This forward-thinking approach underscores Plug Power’s resilience and vision. They’re not waiting idly for the government. Instead, they are positioning themselves to maximize future growth, showing a proactive stance that sets them apart. As a trailblazer in the hydrogen industry, Plug Power represents a solid choice for investors keen on capitalizing on innovation and market leadership during these uncertain times.

Plug Power is not just waiting passively for a favorable outcome; they are moving forward with confidence, recognizing tax credits even before the finalization of the 45V tax laws. This proactive strategy and strong belief in their future growth potential make Plug Power an enticing investment in the hydrogen sector.

Analysts’ Ratings and Overview for PLUG

Here’s an insight into how analysts view Plug Power:

Summary of Analyst Outlook:

The consensus rating for Plug Power Inc. is a Hold, indicating that the overall sentiment among analysts is cautionary. The average price target for the stock is $4.99, which represents an increase of 102.85% from the current price of $2.46. The forecasts range from a low of $2.00 to a high of $18.00. This suggests that analysts are divided on the stock’s future performance, with some predicting significant growth and others warning of potential declines.

Sources:

1. TipRanks
2. Nasdaq
3. Zacks
4. MarketWatch
5. WSJ

Linde plc

LIN

$437.96

6%

Linde (NASDAQ: LIN)

Next on our radar is Linde, a pillar of stability and reliability in the hydrogen sector. Analysts at Mizuho have pegged a lofty price target of $512 for Linde, with expectations of an 8-10% EPS growth for FY24. This paints a rosy picture of what’s to come for investors.

When I first highlighted the opportunity in Linde, I suggested that patient investors could see it refill its gap at $460. That was back in May when LIN traded roughly around $430. Though it hasn’t reached my $460 target yet, it soared to a high of $446.48 before pulling back to $425, which remains a strong buy. At $425 support, not only can we pick up the LIN stock on the cheap, but we can also collect its yield of about 1.3% while waiting on its recovery.

Linde’s cutting-edge technological prowess and its strong market presence ensure continued robust performance. Moreover, with a current yield of 1.3%, investors can enjoy a steady income stream while the stock regains its footing after stabilizing around $425. This blend of innovation, stability, and growth makes Linde a standout candidate for those looking to navigate the hydrogen market safely.

Analysts’ Ratings and Overview for LIN

Here’s how analysts view Linde:

Summary of Analyst Outlook:

Analysts have a consensus rating of OUTPERFORM for Linde PLC, indicating a positive outlook. The average price target is $472.80 USD, reflecting a potential gain of 12.92% over the current price of $430.09 USD. This consensus opinion is based on 28 analyst ratings, with no sell ratings reported. Additionally, Linde has historically outperformed its industry in terms of earnings, which adds to the positivity in the outlook.

Sources:

1. Zacks Investment Research
2. Marketscreener.com
3. TipRanks.com

Air Products and Chemicals, Inc

APD

$263.47

7%

Air Products and Chemicals (NYSE: APD)

If you’re looking for a buy-in opportunity, Air Products and Chemicals is worth a hard look. The oversold giant recently experienced a significant dip, reaching $246 from about $285, making it ripe for investment. Oversold technical indicators such as RSI, MACD, and Williams %R point towards a potential rebound to $285, a neat recovery for new investors.

But there’s more. APD offers a tempting dividend yield of 2.82%. This means while you’re waiting for the stock price to bounce back, you’re still earning. Recent analyst upgrades from giants like Bank of America, Deutsche Bank, and BMO Capital underscore a broad confidence in APD’s performance. Bank of America raised their price target to $312, Deutsche Bank to $310, and BMO Capital to $263 from $250, all reflecting an outperform rating.

Even BMO Capital noted, “With continued pricing, a more aggressive focus on cost-cutting, no major changes on the projects, and the corp. line likely to improve with the help of greater LNG equipment, we believe the stock will start to grind higher.” This discounted price, strong recovery prospects, and steady dividends make APD a shrewd choice for anyone seeking to enter the hydrogen market amidst the dips.

Analysts’ Ratings and Overview for APD

Here’s how analysts view Air Products and Chemicals:

Summary of Analyst Outlook:

Air Products and Chemicals (APD) has a consensus rating of Moderate Buy, based on 16 Wall Street analyst ratings. The average price target for the next 12 months is $291.23, indicating a potential 12.86% gain from the current price of $258.05. The stock has outperformed its industry in terms of earnings but underperformed in terms of sales.

Sources:

1. TipRanks
2. Nasdaq Analyst Research
3. MarketWatch
4. WSJ

Global X Hydrogen ETF

HYDR

$15.59

6%

Global X Hydrogen ETF (NASDAQ: HYDR)

For those who prefer a diversified approach, the Global X Hydrogen ETF offers a well-rounded entry into the hydrogen arena. This ETF spreads risk across a spectrum of stocks involved in hydrogen production and fuel cell development. Its top holdings feature heavyweights such as Bloom Energy, Plug Power, Ballard Power, ITM Power, and Ceres Power.

The ETF’s recent fall from $34 to $25.60 marks a prime buy-on-weakness opportunity, especially with oversold technical indicators suggesting a rebound. From its last traded price of $25.60, a retest of $30 seems likely in the near term. With an expense ratio of just 0.5%, this ETF provides broad exposure to the hydrogen industry, mitigating risks associated with single-stock investments and making it an attractive choice for cautious yet opportunistic investors.

Analysts’ Ratings and Overview for HYDR

Here’s how analysts view the Hydrogen ETF:

Summary of Analyst Outlook:

The analysts have a consensus rating of Moderate Buy for the Global X Hydrogen ETF (HYDR). The average 12-month price target is $40.76, indicating a potential 51.54% gain from the current price. This forecast is based on the opinions of 27 analysts who have issued 12-month price targets for the ETF in the past 3 months. The highest analyst price target is $73.36, and the lowest is $28.34.

Sources:

1. Yahoo Finance
2. TipRanks
3. Danelfin
4. StockInvest.us