These 3 hydrogen stocks could 10x your invested capital

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Written on Jul 6, 2024

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Clean energy industry could benefit from a Labour government in the UK.
But these three US based clean energy stocks are worth owning as well.
A brief overview of what each of these three stocks has in store for investors.

The clean energy industry is expected to benefit now that the Labour Party has returned to power in the United Kingdom after about 14 years.

But UK based clean energy companies are not the only ones worth investing in. In fact, following are the top three US based hydrogen stocks that could potentially 10x your capital moving forward.

Plug Power Inc (NASDAQ: PLUG)

Plug Power is on our list of top hydrogen stocks to own for 10x returns as it’s down nearly 45% at writing. So, you have an opportunity to load up on its shares at a deep discount.

The Nasdaq-listed firm warrants an investment also because it has signed BEDP contracts not just in the United States but in Europe as well.

On top of its 10 TPD factory in Tennessee, PLUG has started producing liquid green hydrogen at its Georgia facility in 2024 as well.

In May, Plug Power came in shy of expectations for its first quarter but CEO Andy Marsh confirmed that the Latham, New York based company “continues to make steady progress”.

FuelCell Energy Inc (NASDAQ: FCEL)

FuelCell Energy is another hydrogen stock that you should consider buying particularly if you are capital restrained. At 63 cents only, you won’t have to break a bank to build a sizable position in it.

The company based out of Danbury, Connecticut could benefit from a change of government as it may lift the strict 45V tax rule of the Biden administration.

FCEL lost 7 cents a share in its recently concluded quarter – better than the expected 8 cents loss. Its revenue at $22.42 million also surpassed Street estimates by 1.36% in the fiscal Q2.

FuelCell stock may be a risky investment but with a bigger risk usually comes a bigger return i.e. 10x upside potential.

Bloom Energy Corp (NYSE: BE)

Bloom Energy stock has the potential to 10x your capital primarily because it’s a beneficiary of continued growth in artificial intelligence.

In fact, Alphabet Inc – the parent company of Google is already using Bloom boxes to power its headquarters. The AI driven data centre demand will likely boost interest further in BE moving forward.

Shares of the California based firm have declined about 30% in less than two months which may be an opportunity to buy considering the Wall Street analysts currently rate them at “overweight”.

Bloom Energy is expected to earn 5 cents on a per-share basis this year on $314.75 million in revenue.