Are these the hydrogen stocks to watch right now?
Hydrogen stocks are shares in companies that produce or distribute hydrogen. In fact, Hydrogen is the most abundant element in the universe, and it can be used as a fuel for transportation, heating, and other applications. The hydrogen economy has been described as a potential successor to the fossil fuel economy, and hydrogen stocks could potentially benefit from this shift.
Hydrogen stocks are currently a niche market, but they could become more popular as the Hydrogen economy develops. If this has you keen on investing in the hydrogen sector, here are two companies to watch in the stock market this month.
Hydrogen Stocks To Watch Now
- Plug Power Inc. (NASDAQ: PLUG)
- Linde plc (NYSE: LIN)
Plug Power (PLUG Stock)
First, Plug Power (PLUG) is a company that develops and manufactures hydrogen fuel cells. In detail, Plug Power’s products are used in a variety of applications, including material handling, stationary power, and transportation. Also, the company’s fuel cells offer a number of advantages over traditional combustion engines, including lower emissions, higher efficiency, and longer run times.
Meanwhile, just today, Tuesday, the company announced that it will announce its third-quarter 2022 financial results on November 8, 2022, after the market closes. To refresh your memory, in the second quarter of 2022, Plug Power reported a loss of $0.30 per share, along with revenue of $151.3 million for Q2 2022. Additionally, PLUG notched in a 21.4% increase in revenue on a year-over-year basis.
Aside from that, on Tuesday, shares of PLUG stock closed the day down 1.81% at $15.69 a share.
Source: TD Ameritrade TOS
Linde plc (LIN Stock)
Next, Linde plc (LIN) is an international industrial gas and engineering company. Linde’s core business is the production and distribution of industrial gases, including oxygen, nitrogen, argon, carbon dioxide, hydrogen, and helium. Linde also offers a wide range of engineering services, from plant design and construction to the operation and maintenance of complex industrial facilities.
Just last week, the company announced its 3rd quarter ending September 2022 financial results. Getting straight into it, Linde plc reported Q3 2022 earnings of $3.10 per share, to go along with revenue of $8.8 billion. For context, Wall Street’s consensus earnings estimate was $2.94 per share and revenue of $7.9 billion for Q3 2022. What’s more, the company posted a 14.7% jump in revenue compared to the same period, a year prior.
As of Tuesday’s closing bell, shares of LIN stock closed the day up modestly by 0.28% at $298.17 a share.
Source: TD Ameritrade TOS
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Originally Posted November 1, 2022 – 2 Hydrogen Stocks For Your November 2022 Watchlist
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