Global X Hydrogen ETF (NASDAQ:HYDR), Trade Ideas

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ETF Series Solutions Defiance Next Gen H2 ETF

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HYDR

PLUG

Plug Power issues $140.396 million in convertible senior notes, with $58.5 million of 2025 notes remaining outstanding.

What&#39;s Going On With Plug Power Shares Wednesday?

HYZN

Earnings

Small Cap

CCSO

Hyzon Motors reported FY23 revenue of $0.30M, loss from operations at $(188.0)M, adjusted EBITDA at $(134.2)M, and EPS loss of $(0.75). 19 vehicles were deployed, and company had $112.3M cash and net cash burn of $25.5M. 

Hyzon Motors FY23 Revenue Plunges, Losses Widen Despite Vehicle Deployments

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AMZN

FCEL

HJEN

As the clean energy debate intensifies, the Treasury&#39;s impending decision on hydrogen production tax credits stands to reshape the hydrogen industry&#39;s trajectory.

Hydrogen&#39;s Make-Or-Break Moment: Industry Awaits Key Treasury Decision On Tax Credits

Global X Hydrogen ETF

Hydra

HYDROGENETICS INC by Hydrogenetics Inc.

HYDREIGHT TECHNOLGIES INC by Hydreight Technologies Inc

Hydreight Technologies Inc

Hydro One Ltd

HYDRO POWER TECHS INC by Hydro Power Technologies, Inc.

Hydro Power Technologies Inc

HYDROCARBON DYNAMICS LTD by Hydrocarbon Dynamics Ltd.

Hydrocarbon Dynamics Ltd

Hydrofarm Holdings Group, Inc. - Common Stock

Hydrofarm Holdings Group Inc

HYDROGEN ENGINE CTR INC by Hydrogen Engine Center, Inc.

Hydrogen Engine Center Inc

HYDROGEN HYBRID TECHS INC by Hydrogen Hybrid Technologies, Inc.

Hydrogen Hybrid Technologies Inc

HYDROGEN UTOPIA INTL PLC by Hydrogen Utopia International PLC

Hydrogen Utopia International PLC

HydrogenPro ASA

HYDROGRAPH CLEAN PWR INC by HYDROGRAPH CLEAN PWR INC.

Hydrograph Clean Power Inc

Hydromer Inc

WIIM

Shares of homebuilder stocks are trading higher following strong earnings from PulteGroup and better-than-expected new home sales data.

<p>Barclays  analyst Tim Long   maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Equal-Weight and raises the price target from $111 to $112.</p>


Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on Crown Castle, Raises Price Target to $112

<p>Stephens &amp; Co.  analyst Matt Olney   reiterates SmartFinancial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMBK#NYSE">SMBK</a>) with a Overweight and maintains $26 price target.</p>


Reiteration

SMBK

Stephens & Co. Reiterates Overweight on SmartFinancial, Maintains $26 Price Target

<p>Barclays  analyst Jared Shaw   maintains Bank of Hawaii (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>) with a Underweight and lowers the price target from $51 to $50.</p>


Barclays Maintains Underweight on Bank of Hawaii, Lowers Price Target to $50

W.R. Berkley shares are trading lower following Q1 earnings.

MEDP

Medpace Holdings shares are trading higher after the company issued strong FY24 guidance. Jefferies upgraded the stock to Buy and raised its price target to $450.

<p><strong>Roblox Corp</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) has been ramping up its efforts to <a href="https://www.benzinga.com/news/24/04/38182117/whats-going-on-with-roblox-stock-wednesday">attract new advertisers to its platform</a>.</p>
<p>The stock has been rangebound over the past couple of years, despite the company having addressed many of the investor concerns, according to JPMorgan.</p>
<p><strong>The Roblox Analyst:</strong> Cory Carpenter upgraded the rating for Roblox from Neutral to Overweight, while raising the price target from $41 to $48.</p>
<p><strong>The Roblox Thesis: </strong>The company has generated over 20% bookings growth in each of the past four quarters and management is targeting 100 to 300 basis points (bps) of annual margin expansion over the next three to five years, Carpenter said in the upgrade note.</p>
<p><em>Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.</em></p>
<p>"Third-party data suggested RBLX was tracking below its bookings guide through February, but trends appeared to materially pick-up in March," the analyst wrote. He added that the company could report first-quarter bookings of $927 million, representing 20% year-on-year growth, and adjusted EBITDA of $75 million.</p>
<p>"We do not anticipate any change to the 2024 Bookings guide of $4.14-4.28B (20% Y/Y) this early in the year and ahead of the seasonally important 2H," Carpenter further stated.</p>
<p><strong>RBLX Price Action: </strong>Shares of Roblox were up 5.06% to $36.70 at the time of publication on Tuesday.</p>
<p><em>Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon">Private Sector Growth Unexpectedly Slows In April, Marks Lowest Increase In 4 Months: &#8216;Drivers Of Inflation Have Changed&#8217;</a></em></p>
<p><em>Photo courtesy of Roblox.</em></p>


Analyst Color

Earnings Misses

Long Ideas

Upgrades

Trading Ideas

RBLX

Roblox Analyst Turns Bullish As 'Trends Appeared To Materially Pick-Up In March'

<p>Stephens &amp; Co.  analyst Andrew Terrell   reiterates RBB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBB#NASDAQ">RBB</a>) with a Equal-Weight and maintains $20 price target.</p>


Stephens & Co. Reiterates Equal-Weight on RBB Bancorp, Maintains $20 Price Target

<p>Jefferies  analyst David Windley   upgrades Medpace Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) from Hold to Buy and raises the price target from $340 to $450.</p>


Jefferies Upgrades Medpace Hldgs to Buy, Raises Price Target to $450

<p>The fight between the cryptocurrency industry and the Securities And Exchange Commission (SEC) continues with <a href="https://www.benzinga.com/markets/cryptocurrency/22/09/28901589/blockchain-association-slams-biden-administrations-crypto-framework">The Blockchain Association</a>, a prominent crypto advocacy group, having filed a lawsuit against the SEC in a Texas court, challenging the regulator&#8217;s recently adopted definition of &#8220;dealer&#8221; in securities markets.</p>
<p><strong>What&#8217;s the Problem With The New Rule?</strong></p>
<p>The lawsuit argues that the SEC&#8217;s new definition unlawfully expands its authority by capturing activities within the realm of decentralized finance (DeFi), The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-earnings-04-23-2024/card/crypto-industry-groups-sue-sec-over-new-dealer-rule-VpcCeHRQ9eeDCerMyQ2J">reported</a>.</p>
<p>Under the new rule, liquidity providers on DeFi protocols, who use automated systems to facilitate trading, could be classified as &#8220;dealers&#8221; subject to the same regulations as traditional securities dealers.</p>
<p><strong>Not Everyone Agrees With The SEC</strong></p>
<p>The SEC&#8217;s revised definition has drawn criticism from within its own ranks, with Commissioners <strong>Hester Pierce </strong>and <strong>Mark Uyeda</strong> voicing concerns about its reach and potential stifling effect on innovation. </p>
<p>Industry groups, including the Blockchain Association, submitted comment letters during the public comment period, arguing that the rule exceeded the SEC&#8217;s legal authority.</p>
<p>The lawsuit alleges the SEC disregarded the concerns raised in these comments, including those from the Blockchain Association. </p>
<p><em>Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38378731/venezuela-turns-to-crypto-as-us-sanctions-return-on-oil-exports">Venezuela Turns To Crypto As US Sanctions Return On Oil Exports</a></em></p>
<p>&#8220;This is the latest example of the SEC&#8217;s blatant attempts to regulate outside its authority,&#8221; declared <strong>Kristin</strong> <strong>Smith</strong>, CEO of the Blockchain Association.</p>
<p><strong>Potential Impact: Brain Drain And Stifled Innovation</strong></p>
<p>The Blockchain Association warns that the new dealer rule could have a chilling effect on the US crypto industry. </p>
<p>Smith suggests the rule could push American innovators and companies overseas, hindering further development in the digital asset space.</p>
<p><strong>What&#8217;s Next</strong>: The ongoing battle between the SEC and the crypto industry highlights the complex regulatory landscape surrounding digital assets. </p>
<p>If you&#8217;re interested in staying informed about the latest developments in crypto regulation and how it affects the future of DeFi and other aspects of the digital asset ecosystem, then consider attending the Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.</p>
<p><em>Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38373531/spot-bitcoin-etfs-register-35m-net-inflow-on-first-post-halving-trading-day">Spot Bitcoin ETFs Register $35M Net Inflow On First Post-Halving Trading Day</a></em></p>
<p><em>Image: Shutterstock</em></p>


Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Crypto Lobby Group Sues SEC Over New Dealer Rule

MongoDB shares are trading higher after Loop Capital initiated coverage on the stock with a Buy rating and $415 price target.

<p>Jefferies  analyst Brent Thill   maintains IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) with a Hold and lowers the price target from $215 to $210.</p>


Jefferies Maintains Hold on IBM, Lowers Price Target to $210

<p>Stephens &amp; Co.  analyst Andrew Terrell   reiterates Private Bancorp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PBAM#OTC">PBAM</a>) with a Overweight and maintains $41 price target.</p>


PBAM

Stephens & Co. Reiterates Overweight on Private Bancorp, Maintains $41 Price Target

<p><strong>Mantle's</strong> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MNT</a>) price has decreased 3.27% over the past 24 hours to <strong>$1.18</strong>. This is contrary to the coins performance over the past week where it has experienced an up-trend of 10.0%, moving from $1.08 to its current price.</p>
<p>The chart below compares the price movement and volatility for Mantle over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713884628_0.png" alt="price_chart" /></p>
<p>The trading volume for the coin has tumbled 34.0% over the past week along with the circulating supply of the coin, which has fallen 0.16%. This brings the circulating supply to 3.26 billion, which makes up an estimated 52.49% of its max supply of 6.22 billion. According to our data, the current market cap ranking for MNT is #29 at $3.86 billion.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713884628_1.png" alt="supply_and_vol" /></p>
<p><a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


$MNT

Cryptocurrency Mantle Decreases More Than 3% Within 24 hours

<p>Finance expert <a href="https://www.benzinga.com/personal-finance/24/02/37014818/suze-orman-says-you-have-a-golden-opportunity-to-make-your-kids-millionaires-with-this-simple-ye">Suze Orman</a> has voiced concerns about the impact of climate change on property insurance costs, asserting it could threaten the American dream of homeownership. Orman, 72, faced a $28,000 annual insurance quote for her Florida oceanside condo, leading her to forego coverage entirely.</p>
<p>She highlights a troubling trend where soaring insurance costs driven by frequent and severe weather events may deter Americans from buying homes.&nbsp;</p>
<p><strong>Don't Miss:</strong></p>
<ul>
<li><strong></strong><strong>For many first-time buyers, a house is about 3 to 5 times your household annual income &#8211;<a href="http://www.benzinga.com/money/smartasset"><strong> </strong><strong>Are you making enough?</strong></a></strong></li>
<li><strong></strong><strong>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"><strong> </strong><strong>The percentage may shock you</strong></a>.</strong></li>
</ul>
<p>"Climate change is going to make a big difference in people's desire to own their own home," Orman told DailyMail.com.&nbsp;</p>
<p>She pointed out that the increasing unpredictability in places like Southern California and areas newly prone to severe hurricanes amplifies homeowner anxiety, especially combined with high mortgage interest rates.</p>
<p>This sentiment is supported by data indicating a 23% increase in the national average home insurance cost within a year, now averaging $1,759. The rise in premiums follows a record year where the U.S. saw 28 natural disasters each causing over $1 billion in damages.</p>
<p>According to News-Press, Florida has the highest home insurance rates in the U.S., and they're predicted to rise further. In 2023, the average annual premium for Florida homeowners was $10,996. As of April, Insurify forecasts a 7% increase this year, bringing the average cost to $11,759.</p>
<p>Orman's frustration with insurance rates is palpable. Referring to her situation, she said, "$28,000 for a 2,100-square-foot condo. Are you kidding me?"&nbsp;</p>
<p><strong>Trending: Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/?p=308263"><strong> How much is that worth today?</strong></a></strong></p>
<p>Her decision to "self-insure" reflects a growing trend among homeowners who own their properties outright and choose to risk not having coverage.</p>
<p>Although self-insuring is becoming more popular, it comes with considerable risk. In the event of a disaster, such as a fire or tornado, a homeowner without insurance would be responsible for all repair or rebuilding costs, which could be devastating. Anyone considering this route should have a strong financial safety net.&nbsp;</p>
<p>The broader insurance market has responded to increased risks by hiking premiums and withdrawing from high-risk areas. For instance, State Farm Insurance ceased insuring homes in California because of wildfire risks, reflecting a trend of insurers recalibrating their risk exposure because of climate change.</p>
<p>Insurance issues are further complicated by practices like the <a href="https://www.benzinga.com/real-estate/24/04/38046445/florida-governor-ron-desantis-raises-alarm-by-calling-citizens-insurance-not-solvent-as-an-explosive">"takeout" in Florida</a>, where new companies cherry-pick lucrative policies, leaving less desirable ones behind. This system, described by insurance executive Bruce Lucas on the podcast "The Insurance Guys," showcases the evolving strategies to manage growing risks and opportunities in states like Florida.</p>
<p>As homeowners face escalating costs and insurers adjust strategies, the future of the American dream of homeownership appears uncertain.&nbsp;</p>
<p>Considering these complexities and uncertainties, <a href="https://www.benzinga.com/money/smartasset">consulting a financial adviser</a> can be particularly beneficial for homeowners. If you&#8217;re experiencing increased rates and are concerned about how these costs will impact your long-term financial plans, including retirement, an adviser can offer tailored strategies to maximize your resources. They can help assess your ability to self-insure or find viable alternatives to manage and afford coverage. Seeking professional financial advice ensures that your homeownership and retirement goals remain achievable.&nbsp;</p>
<p><strong>Read Next:</strong></p>
<ul>
<li><strong></strong><strong>The shocking amount the average American would save by now if they started saving in 2010 with t<a href="https://www.benzinga.com/money/public-hys-avgamerican"><strong>oday&#8217;s high yield savings account rates</strong></a>.</strong></li>
<li><strong><a href="https://www.benzinga.com/money/are-you-rich-advisor"><strong>Are you rich?</strong></a></strong><strong> Here&#8217;s what Americans think you need to be considered wealthy.</strong></li>
</ul>


Personal Finance

Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'

<p><strong>Bitcoin </strong>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bull and <strong>Morgan Creek Capital </strong>CEO <strong>Mark Yusko </strong>is putting his money where his mouth is with a challenge proposed to one of the most <a href="https://www.benzinga.com/topic/peter-schiff">notorious Bitcoin bears.</a></p>
<p><strong>What Happened</strong>: Gold bull and Bitcoin skeptic <strong>Peter Schiff </strong>took to X, formerly known as Twitter, on April 19 &#8212; after the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38345128/peter-schiff-mocks-bitcoiners-after-halving-event-asks-if-theyre-throwing-parties-h">Bitcoin halving</a>.</p>
<p>"I think halving is an appropriate name for what's happening as soon Bitcoin HODLers will experience a halving of their net worths," Schiff said.</p>
<p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><br />
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><p lang="en" dir="ltr">Congratulations Bitcoiners on the <a href="https://twitter.com/hashtag/Halving?src=hash&amp;ref_src=twsrc%5Etfw">#Halving</a>. Are you guys commemorating this occasion by throwing parties tonight? I haven&#39;t been invited to any. I think halving is an appropriate name for what&#39;s happening as soon <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw">#HODLers</a> will experience a halving of their net worths.</p>
<p>&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1781476742156243304?ref_src=twsrc%5Etfw">April 20, 2024</a></p></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<p></p></figure></p>
<p>Schiff also asked if Bitcoiners were holding any parties, joking that he wasn't invited to any.</p>
<p>Yusko didn't take kindly to the mocking of Bitcoiners by Schiff and issued a public challenge via social media.</p>
<p>"Peter, we are all so sick of your BS…Time for #MoneyWhereYourMouthIs $1MM Charity Bet (Buffett Style) right now I take $BTC and you take $GOLD from today for next 5 years," Yusko <a href="https://twitter.com/MarkYusko/status/1781503575274746101?t=M2xVxrPHQE560xQB1cyj-w&amp;s=19">tweeted</a>.</p>
<p>Yusko asked everyone to retweet the challenge and get the hashtag #ShutSchiffUpBet trending.</p>
<p>Another <a href="https://twitter.com/MarkYusko/status/1781801251816022166">tweet </a>from Yusko on the challenge pitted it as "Bitcoin vs. BoomerRocks."</p>
<p>Schiff has not responded to the challenge publicly as of the time of writing.</p>
<p><em>Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346412/if-you-invested-1-000-in-bitcoin-during-the-may-2020-bitcoin-halving-heres-how-much-youd-h">If You Invested $1,000 In Bitcoin During The May 2020 Bitcoin Halving, Here&#8217;s How Much You&#8217;d Have Now</a></em></p>
<p><strong>Why It's Important: </strong>While mocking the Bitcoin halving event, one user was quick to point out a tweet from Schiff that came on May 9, 2020 ahead of the last Bitcoin halving event.</p>
<p>"Looks like some of the Bitcoin speculators who bought in anticipation of the halving couldn't wait for the actual fact to start selling," Schiff <a href="https://twitter.com/PeterSchiff/status/1259319450588889088">tweeted </a>on May 9, 2020. "As more sellers jump the gun, by the time the fact occurs, the profits those buying the rumor were hoping to cash in on may already be gone."</p>
<p>At the time, Bitcoin traded at $9,913.86 and gold <a href="https://goldprice.org/gold-price-today/2020-05-09">traded </a>at $1,704.66. Bitcoin went on to increased 566.7% since that time, while gold is up 35.8% over the same time period.</p>
<p>"You said this at 1.00, 10.00, 100.00, 1000.00, 10,000, 50,000 and will be saying it when BTC is 1 million dollars per coin. All those poor people that listened to you and stayed in the Gold that you sell. Unreal dude," on users tweeted.</p>
<p>Schiff has famously warned investors against Bitcoin over the years. Recently, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358074/peter-schiff-warns-against-piling-risk-assets-like-tech-stocks-and-bitcoin-amid-inf">he cautioned investors </a>looking at "risk assets" like Bitcoin and tech stocks with higher concerns on inflation and recommended his favorite asset instead.</p>
<p>"Investors should be buying gold," he said.</p>
<p>Yusko has <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/35004658/exclusive-mark-yusko-on-bitcoins-future-crypto-protocol-investing-2024-price-target">a price target</a> of $150,000 for Bitcoin over the next year. </p>
<p>A potential charity bet would echo one made by legendary investor <strong>Warren Buffett</strong> who famously <a href="https://www.cnbc.com/2018/02/16/warren-buffett-won-2-point-2-million-on-a-bet-and-gave-it-to-girls-inc.html">bet </a>$1 million that the S&amp;P 500 would outperform hedge funds over a 10-year time frame. Buffett won the bet from 2007 to 2017.</p>
<p><em>Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36427407/if-you-invested-1-000-in-bitcoin-when-mark-yusko-said-buy-it-on-tv-heres-how-much-youd-hav">If You Invested $1,000 In Bitcoin When Mark Yusko Said &#8216;Buy It,&#8217; On TV, Here&#8217;s How Much You&#8217;d Have Today</a></em></p>
<p><em>Image: Pixabay</em></p>


Commodities

$BTC

Bitcoin Vs. Gold: Hedge Funder Mark Yusko Challenges Peter Schiff To $1M Charity Bet To Settle 'Bitcoin Vs. BoomerRocks'

<p>Over the past 24 hours, <strong>Immutable's</strong> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">IMX</a>) price rose 6.42% to <strong>$2.43</strong>. This continues its positive trend over the past week where it has experienced a 33.0% gain, moving from $1.8 to its current price. As it stands right now, <strong>the coin's all-time high is $9.52</strong>. </p>
<p>The chart below compares the price movement and volatility for Immutable over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713884558_0.png" alt="price_chart" /></p>
<p>The trading volume for the coin has decreased 32.0% over the past week, while the overall circulating supply of the coin has increased 1.95% to over 1.46 billion. This puts its current circulating supply at an estimated 72.84% of its max supply, which is 2.00 billion. The current market cap ranking for IMX is #33 at $3.52 billion.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713884558_1.png" alt="supply_and_vol" /></p>
<p><a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


$IMX

Cryptocurrency Immutable Rises More Than 6% In 24 hours

<p><strong>Stacks's</strong> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/stx/usd">STX</a>) price has increased 5.77% over the past 24 hours to <strong>$3.04</strong>. Over the past week, STX has experienced an uptick of over 33.0%, moving from $2.31 to its current price.  As it stands right now, <strong>the coin's all-time high is $3.86</strong>. </p>
<p>The chart below compares the price movement and volatility for Stacks over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713884548_0.png" alt="price_chart" /></p>
<p>The trading volume for the coin has tumbled 0.0% over the past week along with the circulating supply of the coin, which has fallen 0.05%. This brings the circulating supply to 1.45 billion, which makes up an estimated 79.97% of its max supply of 1.82 billion. According to our data, the current market cap ranking for STX is #26 at $4.40 billion.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713884548_1.png" alt="supply_and_vol" /></p>
<p><a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


$STX

Cryptocurrency Stacks Up More Than 5% In 24 hours

<p>Janney Montgomery Scott  analyst Timothy Coffey   upgrades Sierra (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSRR#NASDAQ">BSRR</a>) from Neutral to Buy and lowers the price target from $24 to $23.</p>


BSRR

Janney Montgomery Scott Upgrades Sierra to Buy, Lowers Price Target to $23

<p><strong>Maine&#8217;s </strong>law enforcement agencies recently busted another illegal grow operation seizing 40 pounds (18 kilograms) of processed cannabis, <a href="https://apnews.com/article/illicit-marijuana-operation-charges-maine-ad17b4bf2cab5cf4379fac394045335b">reported</a> the Associated Press. </p>
<p><strong>Xisen Guo,</strong> a naturalized U.S. citizen born in <strong>China</strong>, was behind a hidden high-tech cannabis grow operation from his house in <strong>Passadumkeag</strong>, as per court documents. In February, he was arrested following a police raid of his illegal grow.</p>
<p>Guo's operation appeared on the police radar due to a hike in his utility bills that surged to nearly $9,000 a month from $300 before the house was bought for $125,000 in cash by a limited liability company. During the raid, police also found heat pumps, lighting and additional gear used for the cultivation of marijuana, according to court documents.</p>
<p>Last Friday, Guo was ordered held on federal drug charges.</p>
<p>Meanwhile, the case of Passadumkeag's hidden illicit cannabis grow is just one of roughly a hundred similar illegal weed grow operations in Maine, according to federal law enforcement officials. As of June 2023, some 40 search warrants have been issued.</p>
<h3 class="wp-block-heading">Feds Crack Down On The Illicit Weed Cultivation</h3>
<p>Maine's Congressional Delegation sent a letter to the<strong> U.S. Department of Justice</strong> (DOJ) in August, calling on the agency to put an end to the presence of foreign-owned and illegally operated <a href="https://www.benzinga.com/government/23/08/34045551/doj-put-on-notice-maines-top-lawmakers-demand-swift-action-on-chinese-illegal-pot-operations">marijuana businesses statewide.</a> &#8220;Law enforcement in the state has identified 270 suspected properties that have been used as illegal Chinese growing operations, producing an estimated $4.37 billion in revenue," the letter said at the time.</p>
<p>The move was followed up when a bipartisan group of 50 congress members from the House and Senate recently urged Attorney General <strong>Merrick Garland</strong> to look into potential connections between the Chinese Communist Party (CCP) and illicit cannabis cultivation operations not just in Maine, <a href="https://www.benzinga.com/markets/cannabis/24/02/36961341/is-chinese-communist-party-behind-illegal-marijuana-grows-in-us-congress-wants-answers">but throughout the United States.</a></p>
<p>&#8220;We are deeply concerned with reports from across the country regarding Chinese nationals and organized crime cultivating marijuana on United States farmland,&#8221;  <a href="https://dailycallernewsfoundation.org/wp-content/uploads/2024/02/24.02.02-Letter-to-AG-Garland-regarding-CCP-affiliated-marijuana-farms.pdf">wrote</a> the Congress members.</p>
<p>AG Garland told the Senate Appropriations Committee last week that the<strong> investigation of international criminal organizations operating illegal marijuana grows in about 20 states</strong> is ongoing, under the auspices of the DEA. </p>
<p>The IRS, Homeland Security and FBI are also part of the investigation.</p>
<p>U.S. Attorney <strong>Darcie McElwee</strong> said authorities have already put an end to "dozens of operations" over the past months.</p>
<p>"The possible involvement of foreign nationals using Maine properties to profit from unlicensed marijuana operations and interstate distributions makes it clear that there is a need for a strong and sustained federal, state and local effort to shut down these operations," McElwee said.</p>


Cannabis

Government

Regulations

Politics

Tell-Tale Signs Led To Cannabis Bust In Maine As Feds Crack Down On International Criminal Organizations Growing Illegal Weed

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The slump in the hydrogen space, marked by a <a href="https://seekingalpha.com/symbol/HYDR/momentum/performance">20% year-to-date</a> slide in the <strong>Global X Hydrogen ETF</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/hydr-stock-quote/"><strong>HYDR</strong></a></span>), underscores a market teeming with undervalued <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/"></a>hydrogen stocks. The market correction presents an excellent opportunity for investors bullish on undervalued hydrogen stocks to capitalize on their potential.</p>



<p>Transitioning to a broader energy narrative, the surge toward sustainable solutions bolsters the attractiveness of hydrogen stocks. Despite facing scalability and challenges related to cost, these obstacles are overshadowed by the sector&rsquo;s massive growth trajectory. It ushers in a new era of energy efficiency and sustainability, promising to transform our energy landscape and drive significant economic growth.</p>



<p>Looking ahead, projections from <a href="https://www.marketsandmarkets.com/Market-Reports/hydrogen-market-132975342.html">Markets and Markets</a> suggest a leap to approximately $410.6 billion by 2030, up from $242.7 billion in 2023. The surge is indicative of the rising demand for sustainable solutions, highlighting three undervalued hydrogen stocks as attractive long-term picks in the burgeoning green energy market.</p>



<h2>Undervalued Hydrogen Stocks: New Fortress Energy (NFE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/lng-natural-gas-ship-1600-300x169.jpg" alt="Large tanker ship carrying natural gas at dusk in harbor"><div>Source: shutterstock.com/Wojciech Wrzesien</div></div><p><strong>New Fortress Energy </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/nfe-stock-quote/"><strong>NFE</strong></a></span>) is emerging as a key player in the clean energy transition, demonstrating a clear long-term vision for expansion. With the go-ahead <a href="https://ir.newfortressenergy.com/news-releases/news-release-details/new-fortress-energy-receives-customs-ruling-its-flng-facility">to transport liquefied natural gas</a> (<a href="https://investorplace.com/stock-quotes/lng-stock-quote/"><strong>LNG</strong></a>) from Mexico to the United States, NFE is tapping into massive market opportunity, indicative of its proactive expansionary approach. Moreover, the <a href="https://ir.newfortressenergy.com/news-releases/news-release-details/new-fortress-energy-adds-16-gw-15-year-contracted-power-asset">acquisition of the PortoCem Power Purchase Agreement</a> in Brazil bolsters its strategy for asset optimization and cements its position in the renewable energy sector.</p>



<p>Financially, NFE continues to impress, outperforming expectations, <a href="https://seekingalpha.com/news/4073794-new-fortress-energy-non-gaap-eps-of-1_01-beats-0_19-revenue-of-758_4m-beats-100_66m">with fourth-quarter (Q4) non-GAAP earnings-per-share (EPS)</a> hitting $1.01, surpassing forecasts by 19 cents. Moreover, its year-over-year (YOY) sales increase of 38% to $758.4 million points to robust demand for NFE&rsquo;s offerings.</p>



<p>Additionally, the <a href="https://seekingalpha.com/symbol/NFE/valuation/metrics">forward non-GAAP price-to-earnings (P/E) ratio</a> for NFE sits attractively at 7.86, markedly 29% under the sector&rsquo;s median of 11.22. Consequently, analysts at <a href="https://www.tipranks.com/stocks/nfe/forecast">TipRanks</a> have assigned NFE a Moderate Buy rating, with an attractive upside potential of 24%.</p>



<h2>Energy Vault Holdings (NRGV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/greenenergy1600a-300x169.jpg" alt="a hand holding a lightbulb on a green background to represent renewable energy stocks"><div>Source: Shutterstock</div></div><p><strong>Energy Vault Holdings </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/nrgv-stock-quote/"><strong>NRGV</strong></a></span>) is capturing the spotlight with innovative energy storage solutions. NRGV recently unveiled its utility-scale <a href="https://greenh2.com/energy-vault-embarks-on-construction-of-the-united-states-largest-green-hydrogen-energy-storage-project/">green hydrogen plus battery energy storage system</a> (BH-ESS) project in Calistoga, Northern California. Slated for commercial operations by the second quarter (Q2) this year, backed by a 10.5-year tolling agreement, the project highlights the company&rsquo;s enviable position in long-duration energy storage innovation. Additionally, NRGV has strategic expansions in the United States, Southern Africa and China, where its projects have <a href="https://www.businesswire.com/news/home/20240312055307/en/Energy-Vault-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-Results#:~:text=Fourth%20quarter%20GAAP%20gross%20margin,is%20now%20expected%20in%202024.">surpassed 3.7 GWh of EVx gravity energy systems.</a></p>



<p>Moreover, with a <a href="https://seekingalpha.com/symbol/NRGV/valuation/metrics">forward price-to-sales ratio of 0..43,</a> 71% below the sector median, NRGV stock remains undervalued. <a href="https://seekingalpha.com/symbol/NRGV/ratings/sell-side-ratings">Wall Street</a> analysts echo this sentiment, assigning NRGV a Buy rating with a jaw-dropping 222% upside potential. That consensus accentuates the widespread optimism over NRGV&rsquo;s innovative strides and long-term positioning.</p>



<h2>Chart Industries (GTLS)</h2>



<a href="https://investorplace.com/wp-content/uploads/2022/09/shutterstock_1784814938-scaled-e1679427565167.jpg"><img width="300" height="145" src="https://investorplace.com/wp-content/uploads/2022/09/shutterstock_1784814938-scaled-e1679427565167-300x145.jpg" alt="A 3D illustration of hydrogen molecules."></a><p><strong>Chart Industries</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/gtls-stock-quote/"><strong>GTLS</strong></a></span>) focuses on hydrogen technologies for a cleaner world, earning it a spot among <a href="https://www.chartindustries.com/News-And-Events/Newsweek">America&rsquo;s Most Responsible Companies 2024</a> by Newsweek. The recognition affirms GTLS&rsquo;s unwavering commitment to advancing sustainability efforts.</p>



<p>That commitment seamlessly aligns with its role in the groundbreaking <a href="https://www.chartindustries.com/News-And-Events/Glosten-and-Siemens">hydrogen-hybrid CCRV research vessel,</a> where GTLS and <strong>Ballard Power Systems</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/bldp-stock-quote/"><strong>BLDP</strong></a></span>), are supplying vital components for the propulsion system. GTLS and Ballard are playing a key role in advancing marine engineering towards greener pastures.</p>



<p>Despite revenue expectations falling short in <a href="https://s28.q4cdn.com/272789067/files/doc_news/Chart-Industries-Reports-2023-Fourth-Quarter-and-Full-Year-Financial-Results-2024.pdf">Q4 2023,</a> GTLS demonstrated impressive growth, with profits per share rising from 37 cents to 88 cents. Additionally, adjusted EPS of $2.25 exceeded forecasts by 11 cents, showcasing the firm&rsquo;s resilience and financial strength.</p>



<p>Furthermore, GTLS&rsquo; attractive valuation metrics, including a <a href="https://seekingalpha.com/symbol/GTLS/valuation/metrics">forward non-GAAP P/E ratio of 13.31,</a> 29% below the sector median, position it as an appealing investment opportunity. With <a href="https://www.tipranks.com/stocks/gtls/forecast">TipRanks</a> analysts assigning GTLS a Moderate Buy rating and predicting a stellar 31% upside potential, investor optimism surrounding its future remains high.</p>



<p><em>On the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a></em></p>
<div><p>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/the-3-most-undervalued-hydrogen-stocks-to-buy-in-march-2024/">The 3 Most Undervalued Hydrogen Stocks to Buy in March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

The 3 Most Undervalued Hydrogen Stocks to Buy in March 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The slump in the hydrogen space, marked by a <a href="https://seekingalpha.com/symbol/HYDR/momentum/performance">20% year-to-date</a> slide in the <strong>Global X Hydrogen ETF</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/hydr-stock-quote/"><strong>HYDR</strong></a></span>), underscores a market teeming with undervalued <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/"></a>hydrogen stocks. The market correction presents an excellent opportunity for investors bullish on undervalued hydrogen stocks to capitalize on their potential.</p>



<p>Transitioning to a broader energy narrative, the surge toward sustainable solutions bolsters the attractiveness of hydrogen stocks. Despite facing scalability and challenges related to cost, these obstacles are overshadowed by the sector&rsquo;s massive growth trajectory. It ushers in a new era of energy efficiency and sustainability, promising to transform our energy landscape and drive significant economic growth.</p>



<p>Looking ahead, projections from <a href="https://www.marketsandmarkets.com/Market-Reports/hydrogen-market-132975342.html">Markets and Markets</a> suggest a leap to approximately $410.6 billion by 2030, up from $242.7 billion in 2023. The surge is indicative of the rising demand for sustainable solutions, highlighting three undervalued hydrogen stocks as attractive long-term picks in the burgeoning green energy market.</p>



<h2>Undervalued Hydrogen Stocks: New Fortress Energy (NFE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/lng-natural-gas-ship-1600-300x169.jpg" alt="Large tanker ship carrying natural gas at dusk in harbor"><div>Source: shutterstock.com/Wojciech Wrzesien</div></div><p><strong>New Fortress Energy </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/nfe-stock-quote/"><strong>NFE</strong></a></span>) is emerging as a key player in the clean energy transition, demonstrating a clear long-term vision for expansion. With the go-ahead <a href="https://ir.newfortressenergy.com/news-releases/news-release-details/new-fortress-energy-receives-customs-ruling-its-flng-facility">to transport liquefied natural gas</a> (<a href="https://investorplace.com/stock-quotes/lng-stock-quote/"><strong>LNG</strong></a>) from Mexico to the United States, NFE is tapping into massive market opportunity, indicative of its proactive expansionary approach. Moreover, the <a href="https://ir.newfortressenergy.com/news-releases/news-release-details/new-fortress-energy-adds-16-gw-15-year-contracted-power-asset">acquisition of the PortoCem Power Purchase Agreement</a> in Brazil bolsters its strategy for asset optimization and cements its position in the renewable energy sector.</p>



<p>Financially, NFE continues to impress, outperforming expectations, <a href="https://seekingalpha.com/news/4073794-new-fortress-energy-non-gaap-eps-of-1_01-beats-0_19-revenue-of-758_4m-beats-100_66m">with fourth-quarter (Q4) non-GAAP earnings-per-share (EPS)</a> hitting $1.01, surpassing forecasts by 19 cents. Moreover, its year-over-year (YOY) sales increase of 38% to $758.4 million points to robust demand for NFE&rsquo;s offerings.</p>



<p>Additionally, the <a href="https://seekingalpha.com/symbol/NFE/valuation/metrics">forward non-GAAP price-to-earnings (P/E) ratio</a> for NFE sits attractively at 7.86, markedly 29% under the sector&rsquo;s median of 11.22. Consequently, analysts at <a href="https://www.tipranks.com/stocks/nfe/forecast">TipRanks</a> have assigned NFE a Moderate Buy rating, with an attractive upside potential of 24%.</p>



<h2>Energy Vault Holdings (NRGV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/greenenergy1600a-300x169.jpg" alt="a hand holding a lightbulb on a green background to represent renewable energy stocks"><div>Source: Shutterstock</div></div><p><strong>Energy Vault Holdings </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/nrgv-stock-quote/"><strong>NRGV</strong></a></span>) is capturing the spotlight with innovative energy storage solutions. NRGV recently unveiled its utility-scale <a href="https://greenh2.com/energy-vault-embarks-on-construction-of-the-united-states-largest-green-hydrogen-energy-storage-project/">green hydrogen plus battery energy storage system</a> (BH-ESS) project in Calistoga, Northern California. Slated for commercial operations by the second quarter (Q2) this year, backed by a 10.5-year tolling agreement, the project highlights the company&rsquo;s enviable position in long-duration energy storage innovation. Additionally, NRGV has strategic expansions in the United States, Southern Africa and China, where its projects have <a href="https://www.businesswire.com/news/home/20240312055307/en/Energy-Vault-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-Results#:~:text=Fourth%20quarter%20GAAP%20gross%20margin,is%20now%20expected%20in%202024.">surpassed 3.7 GWh of EVx gravity energy systems.</a></p>



<p>Moreover, with a <a href="https://seekingalpha.com/symbol/NRGV/valuation/metrics">forward price-to-sales ratio of 0..43,</a> 71% below the sector median, NRGV stock remains undervalued. <a href="https://seekingalpha.com/symbol/NRGV/ratings/sell-side-ratings">Wall Street</a> analysts echo this sentiment, assigning NRGV a Buy rating with a jaw-dropping 222% upside potential. That consensus accentuates the widespread optimism over NRGV&rsquo;s innovative strides and long-term positioning.</p>



<h2>Chart Industries (GTLS)</h2>



<a href="https://investorplace.com/wp-content/uploads/2022/09/shutterstock_1784814938-scaled-e1679427565167.jpg"><img width="300" height="145" src="https://investorplace.com/wp-content/uploads/2022/09/shutterstock_1784814938-scaled-e1679427565167-300x145.jpg" alt="A 3D illustration of hydrogen molecules."></a><p><strong>Chart Industries</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/gtls-stock-quote/"><strong>GTLS</strong></a></span>) focuses on hydrogen technologies for a cleaner world, earning it a spot among <a href="https://www.chartindustries.com/News-And-Events/Newsweek">America&rsquo;s Most Responsible Companies 2024</a> by Newsweek. The recognition affirms GTLS&rsquo;s unwavering commitment to advancing sustainability efforts.</p>



<p>That commitment seamlessly aligns with its role in the groundbreaking <a href="https://www.chartindustries.com/News-And-Events/Glosten-and-Siemens">hydrogen-hybrid CCRV research vessel,</a> where GTLS and <strong>Ballard Power Systems</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/bldp-stock-quote/"><strong>BLDP</strong></a></span>), are supplying vital components for the propulsion system. GTLS and Ballard are playing a key role in advancing marine engineering towards greener pastures.</p>



<p>Despite revenue expectations falling short in <a href="https://s28.q4cdn.com/272789067/files/doc_news/Chart-Industries-Reports-2023-Fourth-Quarter-and-Full-Year-Financial-Results-2024.pdf">Q4 2023,</a> GTLS demonstrated impressive growth, with profits per share rising from 37 cents to 88 cents. Additionally, adjusted EPS of $2.25 exceeded forecasts by 11 cents, showcasing the firm&rsquo;s resilience and financial strength.</p>



<p>Furthermore, GTLS&rsquo; attractive valuation metrics, including a <a href="https://seekingalpha.com/symbol/GTLS/valuation/metrics">forward non-GAAP P/E ratio of 13.31,</a> 29% below the sector median, position it as an appealing investment opportunity. With <a href="https://www.tipranks.com/stocks/gtls/forecast">TipRanks</a> analysts assigning GTLS a Moderate Buy rating and predicting a stellar 31% upside potential, investor optimism surrounding its future remains high.</p>



<p><em>On the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a></em></p>
<div><p>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/the-3-most-undervalued-hydrogen-stocks-to-buy-in-march-2024/">The 3 Most Undervalued Hydrogen Stocks to Buy in March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>On March 13, the U.S. Department of Energy announced $750 million in funding for 52 projects across 24 states to support clean hydrogen in America. That&rsquo;s excellent news for <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/">hydrogen stocks</a>.&nbsp;</p>




<p>&ldquo;The Biden-Harris Administration is propelling an American-led clean hydrogen economy that is delivering good-paying, high-quality jobs and accelerating a manufacturing renaissance in communities across America,&rdquo; <a href="https://www.energy.gov/articles/biden-harris-administration-announces-750-million-support-americas-growing-hydrogen">said</a>&#8239;U.S. Secretary of Energy Jennifer M. Granholm.&nbsp;</p>



<p>&ldquo;The projects announced today&mdash;funded by the President&rsquo;s Investing in America agenda&mdash;will supercharge our progress and ensure our leadership in clean hydrogen will be felt across the nation for generations to come.&rdquo;</p>




<p>These words are music to the ears of clean hydrogen-related businesses everywhere, not just in the U.S. It&rsquo;s a sign that clean energy still matters to Americans.&nbsp;</p>



<p>The words are also music to the ears of investors in hydrogen stocks. The <strong>Global X Hydrogen ETF </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/hydr-stock-quote/"><strong>HYDR</strong></a></span>) started in July 2021. Open for nearly three years, it&rsquo;s gathered $36.4 million in net assets. That&rsquo;s a decent amount, but I don&rsquo;t think it was what Global X had in mind when it launched HYDR.&nbsp;</p>



<p>Nearly three years later, here are three hydrogen stocks to consider from the ETF&rsquo;s 25 holdings.&nbsp;</p>



<h2>Plug Power (PLUG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/plug1600-3-300x169.png" alt="Person holding smartphone with logo of US hydrogen fuel cell company Plug Power Inc. on screen in front of website. Focus on phone display. Unmodified photo. PLUG stock"><div>Source: T. Schneider / Shutterstock.com</div></div><p>It has not been a good year for the manufacturer of fuel cell systems used in green hydrogen production, <strong>Plug Power </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/plug-stock-quote/"><strong>PLUG</strong></a></span>). The stock has lost more than 27% in 2024, on top of a 64% decline in 2023. It is now a penny stock. The last time it traded at these levels was in early 2020.</p>



<p>On Jan. 23, the company announced that its liquid green hydrogen plant in Georgia was open for business. The plant can produce 15 tons of liquid electrolytic hydrogen a day. According to the company&rsquo;s <a href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Power-Starts-Production-of-Liquid-Green-Hydrogen-at-its-Georgia-Plant/default.aspx">press release</a>, it&rsquo;s enough to power 15,000 forklifts daily.&nbsp;</p>



<p>The plant was completed in half the time typically needed for a hydrogen plant. It is in the final stages of securing a <a href="https://www.fool.com/earnings/call-transcripts/2024/03/01/plug-power-plug-q4-2023-earnings-call-transcript/">$1.6 billion</a> term sheet from the U.S. Department of Energy.&nbsp;&nbsp;</p>



<p>The company&rsquo;s biggest issue isn&rsquo;t generating sales, rather it&rsquo;s ensuring that it has a sound balance sheet to remain a going concern. That starts with better margins. As a result, it is raising prices across all of its offerings. At the same time, it is controlling costs, including reducing its workforce&mdash;doing more with less.&nbsp;</p>



<p>In 2023, Plug Power burned through <a href="https://s29.q4cdn.com/600973483/files/doc_financials/2023/ar/f930363c-1c8f-480e-9804-4394c8357275.pdf">$1.1 billion</a> in cash. The company plans to reduce that by 70% in 2024 by cutting capex, lower working capital investments and higher margins. In 2023, they were -114%, considerably worse than a year earlier due to money-losing power purchase agreements.&nbsp;&nbsp;</p>



<p>The risk involved in a Plug Power investment is high, but so is the potential. Only aggressive investors should consider making an investment in this hydrogen stock.&nbsp;&nbsp;</p>



<h2>Ballard Power Systems (BLDP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/bldp-stock-1-300x169.jpg" alt="Ballard Power Systems Inc logo visible on display screen"><div>Source: Pavel Kapysh / Shutterstock.com</div></div><p><strong>Ballard Power Systems </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/bldp)-stock-quote/"><strong>BLDP)</strong></a></span> reported Q4 2023 results on March 11.&nbsp;There was good and bad news. Its revenue was $46.8 million, higher than the analyst estimate of <a href="https://www.streetinsider.com/Earnings/Ballard+Power+%28BLDP%29+Misses+Q4+EPS+by+3c+%3B+Provides+Outlook/22911172.html">$34.2 million</a> and <a href="https://www.ballard.com/about-ballard/newsroom/news-releases/2024/03/11/ballard-reports-q4-2023-results">132% higher</a> than in Q4 2022. On the bottom line, it lost 16 cents per share, 3 cents below the consensus, and 78% higher than the nine cents it lost a year ago. It finished the year with $751.1 million in cash, 18% lower than in 2022.</p>



<p>Based on the earnings report, Raymond James <a href="https://www.ballard.com/about-ballard/newsroom/news-releases/2024/03/11/ballard-reports-q4-2023-results">lowered its price target</a> by 50 cents to $4 while maintaining a Market Perform rating. However, its analysts did suggest that it could reach a breakeven gross margin by the end of 2024. This is in contrast to the -21% margin reported in 2023.&nbsp;</p>



<p>Further, revenues from the sale of its fuel cell solutions to bus companies in the U.S. and Europe should do well in the year ahead as bus orders rise.&nbsp;More than 30 years and billions have been spent since Ballard produced its first fuel cell bus in <a href="https://www.ballard.com/about-ballard/our-history">1993</a>. If any company deserves to reach full profitability, it absolutely should be Ballard.&nbsp;</p>



<p>Once more, I would only consider an investment if you are an aggressive investor comfortable with above-average risk.&nbsp;&nbsp;</p>



<h2>BP (BP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/bp1600-300x169.jpg" alt="BP stock: the BP company logo on a building"><div>Source: FotograFFF / Shutterstock.com</div></div><p>Former <strong>BP </strong>(NYSE:<a href="https://investorplace.com/stock-quotes/bp-stock-quote/"><strong>BP</strong></a>) CEO Bernard Looney&rsquo;s loss is Murray Auchincloss&rsquo;s gain. On Jan. 17, BP&rsquo;s board announced that the interim CEO and former CFO would become the new CEO, replacing Looney, who was <a href="https://www.theguardian.com/business/2024/jan/17/bp-murray-auchincloss-chief-executive-bernard-looney#:~:text=The%20oil%20company%20BP%20has,of%20Bernard%20Looney%20last%20year.">forced to step down</a> after admitting several relationships with work colleagues.&nbsp;&nbsp;&nbsp;</p>



<p>As the saying goes, &ldquo;Luck is when preparation meets opportunity.&rdquo; The board felt Auchincloss was more than prepared to become the energy giant&rsquo;s permanent CEO. As a Canadian, I was pleased to see the company appoint a 53-year-old Canadian to run it.</p>



<p>Auchincloss is well respected within the company and by institutional investors. This is vital, given that <a href="https://www.afr.com/world/europe/how-this-quiet-number-cruncher-became-bp-s-new-boss-20240121-p5eyuz">three of four BP CEOs</a> since 1995 have been forced to resign. Auchincloss&rsquo;s job is to return some stability to the business.&nbsp;&nbsp;&nbsp;&nbsp;</p>



<p>BP remains committed to a <a href="https://www.bp.com/en/global/corporate/what-we-do/hydrogen.html#01">net zero energy system</a> (carbon neutral) by 2050. Low-carbon hydrogen will be a part of that. Currently, it is developing 10 hydrogen projects in Europe, the U.S., and Australia, enabling it to annually produce as much as 0.7 million tonnes of low-carbon hydrogen.</p>



<p>One of these projects is a nearly <a href="https://www.theglobeandmail.com/investing/markets/stocks/NVDA/pressreleases/24823694/three-hydrogen-stocks-wall-street-analysts-are-keeping-within-arms-reach/">64% stake</a> in the Asian Renewable Energy Hub (AREH). AREH is working with the Australian government to develop 26 GW (gigawatts) of solar and wind power for its clean hydrogen output. It currently produces 1.6 million tonnes of green hydrogen annually in Australia.</p>



<p>Betting on BP is a much safer way to bet on clean hydrogen stocks.&nbsp;</p>



<p><em>On the date of publication, Will Ashworth </em><em>did not have (either directly or indirectly) any positions in the securities mentioned in this article. </em><em>The opinions expressed in this article are those of the writer, subject to the </em>InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em> </em>Publishing Guidelines</a><em>.</em></p>
<div><p>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/hot-stocks-the-3-best-opportunities-for-investing-in-hydrogen/">Hot Stocks: The 3 Best Opportunities for Investing in Hydrogen</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Hot Stocks: The 3 Best Opportunities for Investing in Hydrogen

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Renewable <a href="https://investorplace.com/industries/energy/">energy stocks</a> had a rough 2023. Between higher interest rates and a renewed focus on profitability, investors dumped a lot of more speculative stocks in the green energy space. </p>



<p>The selling was especially broad within the hydrogen category. For one stark example of that, consider the <strong>Global X Hydrogen ETF</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/hydr-stock-quote/"><strong>HYDR</strong></a></span>). It has lost 48% of its value over the past 12 months and close to 75% of its value since 2021.</p>



<p>This sort of volatility shouldn&rsquo;t be too shocking. Hydrogen is an emerging industry that is still in the early days of broad commercial adoption. And a lot of the pure-play hydrogen companies are still running large operating losses. However, after the huge drawdown in the hydrogen space, it could be a great time for investors to buy these three top hydrogen picks.</p>



<h2>Air Products &amp; Chemcials (APD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/apd_air_products1600-300x169.png" alt="Air Products (APD) logo on the Arts Quest building, Air Products is a sponsor of Air Products Town Square at Arts Quest in Bethlehem, PA"><div>Source: Andy Borysowski / Shutterstock.com</div></div><p><strong>Air Products &amp; Chemicals</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/apd-stock-quote/"><strong>APD</strong></a></span>) is a specialty chemical company that produces oxygen, hydrogen, nitrogen, helium and other such gases for a wide variety of commercial and industrial uses.</p>



<p>Air Products &amp; Chemicals operates across a wide range of verticals. However, the company is leaning more heavily into hydrogen nowadays thanks to the expanding market opportunity with that element. The company has sold hydrogen for more than&nbsp;<a href="https://www.airproducts.com/gases/hydrogen-hydrogen-energy">60 years</a> and has hydrogen operations in more than 20 countries today. It also operates the world&rsquo;s largest hydrogen distribution network. APD owns more than 100 hydrogen plants with a total capacity of around 7 million kilograms.</p>



<p>APD stock fell to new lows earlier this year on a disappointing earnings report. Indeed, the company has seen a near-term slowdown. But it is investing for the future with plans for <a href="https://www.morningstar.com/company-reports/1205175-air-products-ambitious-capital-deployment-plan-should-support-rapid-growth?listing=0P0000007L">$32 billion</a> of new investments over the next decade. That is a massive number compared to the company&rsquo;s current $53 billion market cap. This should position Air Products &amp; Chemicals for a major growth wave once hydrogen comes back into fashion.</p>



<h2>Linde (LIN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/lin_linde_1600-300x169.png" alt="Logo of Linde AG (LIN) in Hanover, Germany - The Linde Group is a multinational chemical company"><div>Source: nitpicker / Shutterstock.com</div></div><p><strong>Linde</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/lin-stock-quote/"><strong>LIN</strong></a></span>) is another industrial gas and chemical company. Hailing from the U.K., it sells the standard range of atmospheric gasses. It also has another attractive line of business in building turnkey gas plants for customers.</p>



<p>Linde is currently reporting&nbsp;<a href="https://finance.yahoo.com/news/lindes-lin-q4-earnings-top-134300097.html">solid earnings</a>. This has made Linde stand out from the pack as so many hydrogen and renewable energy stocks underperformed this past year. Linde, by contrast, is the model of consistency. Analysts are forecasting between 9% and 12% <a href="https://seekingalpha.com/symbol/LIN/earnings/estimates">earnings per share</a> growth for each of the next three years.</p>



<p>Linde has demonstrated a consistent and repeatable pattern for successful growth. For example, the company is building out its own hydrogen production facilities, including a new&nbsp;<a href="https://www.linde.com/news-and-media/2023/linde-increases-hydrogen-production-in-southeast-united-states">plant expansion</a>&nbsp;in Alabama. In addition to its own operations, the third-party offerings allow Linde to cash in more broadly as the overall hydrogen industry continues to expand in size. While LIN stock is not the cheapest of the hydrogen names, its high-quality business and stable prospects make it a great blue-chip play within the industry.<span><a href="https://investorplace.com/cryptocurrency//"></a></span></p>



<h2>Nel Asa (NLLSF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/hydrogen-h2-1600-300x169.png" alt="Hydrogen renewable energy production - hydrogen gas for clean electricity solar and wind turbine facility."><div>Source: Audio und werbung / Shutterstock</div></div><p><strong>Nel Asa</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/nllsf-stock-quote/"><strong>NLLSF</strong></a></span>) is a pure-play hydrogen company focused on&nbsp;proton exchange membrane electrolysis&nbsp;technologies. The company has partnered with prominent clients such as <strong>General Motors</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/gm-stock-quote/"><strong>GM</strong></a></span>) to develop and commercialize its hydrogen offering.</p>



<p>In addition, Nel has benefitted from significant <a href="https://investorplace.com/2023/11/3-hydrogen-stocks-with-strong-government-support/">state backing</a>. Earlier in March, Nel announced that it is receiving another <a href="https://nelhydrogen.com/press-release/nel-asa-receives-additional-usd-75-million-in-support-for-michigan-facility/">$75 million</a> from the state of Michigan in support of the company&rsquo;s planned factory in the Detroit area.</p>



<p>Nel has not yet reached profitability. However, it is getting closer to breakeven as it scales up. And the top-line is moving nicely. Nel produced 1.8 billion Norwegian Kroner of revenues in 2023, up from KR994 million in the prior year. Meanwhile, the company&rsquo;s EBITDA margin improved from -78% in 2022 to -27% in 2023. </p>



<p>This positive momentum, combined with continuing government support, gives Nel a shot at becoming a key piece of the hydrogen ecosystem going forward.</p>



<p><em>On the date of publication, Ian Bezek held a long position in APD stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/3-hydrogen-stocks-to-buy-for-the-next-bull-run-march-2024/">3 Hydrogen Stocks to Buy for the Next Bull Run: March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Hydrogen Stocks to Buy for the Next Bull Run: March 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/">Hydrogen stocks</a> could get hot &mdash;&nbsp;that is if the Biden Administration loosens its new guidelines on hydrogen tax credits. If that happens, here are just a few of the top hydrogen stocks to buy.</p>




<p>Remember,&nbsp;<a href="https://www.theverge.com/2023/12/22/24012141/hydrogen-tax-credit-45v-biden-treasury-irs-clean-energy">as noted by The Verge,</a> &ldquo;The tax credit, called 45V, can save companies up to $3 per kilogram of production if they can meet the tough new standards proposed. They&rsquo;ll have to purchase clean electricity from&nbsp;new&nbsp;generators that only started operating within three years of the hydrogen production facility coming online.&rdquo;</p>




<p>The guidelines, as is, are considered too restrictive. But that could soon change. All of this is happening as the U.S. Treasury Department holds a hearing on the current tax credits.&nbsp;<a href="https://www.eenews.net/articles/treasury-hearing-to-showcase-battle-over-clean-hydrogen/#:~:text=The%20Treasury%20Department%20hearing%20comes,under%20the%20Inflation%20Reduction%20Act.">As noted by E&amp;E News,</a> the hearings come after 30,000 comments were submitted on draft guidance outlining how companies can obtain credits.</p>



<p>In addition, the administration just announced&nbsp;<a href="https://www.energy.gov/articles/biden-harris-administration-announces-6-billion-transform-americas-industrial-sector">$6 billion for 33 projects</a>&nbsp;across more than 20 U.S. states to help decarbonize energy-intensive industries.&nbsp;</p>



<p>Should we see further progress, hydrogen stocks could see higher highs. Here are three you may want to consider buying on dips.</p>



<h2><strong>Air Product and Chemicals (APD)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/apd_air_products1600-300x169.png" alt="Air Products (APD) logo on the Arts Quest building, Air Products is a sponsor of Air Products Town Square at Arts Quest in Bethlehem, PA"><div>Source: Andy Borysowski / Shutterstock.com</div></div><p>I&rsquo;ve mentioned&nbsp;<strong>Air Product and Chemicals</strong>&nbsp;(NYSE:<span><a href="https://investorplace.com/stock-quotes/apd-stock-quote/"><strong>APD</strong></a></span>) quite a few times here. The last time was on Feb. 6, as APD traded at around $215 a share. It had just gapped lower as the company cut guidance.&nbsp;<a href="https://investorplace.com/2024/02/3-hydrogen-stocks-with-serious-potential-to-make-you-a-millionaire/">But as I noted then,</a> &ldquo;I&rsquo;d buy what appears to be a severe overreaction. Plus, as investors wait for APD to recover lost ground, they can collect APD&rsquo;s current yield of 3.25%.&rdquo;</p>



<p>Shortly after, APD ran to $249.34, where it dipped again. Now, with a yield of 2.96%, APD is again a buy on its latest dip to $237.56.&nbsp;</p>



<p><a href="https://www.msn.com/en-us/money/companies/air-products-and-chemicals-rises-with-upgrade-at-bofa/ar-BB1ilfLk">Analysts</a> at <strong>Bank of America</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/bac-stock-quote/"><strong>BAC</strong></a></span>) like APD, as well. In fact, in February, they upgraded APD to a Buy rating, noting, &ldquo;A key driver of the fiscal first-quarter earnings miss was challenges in APD&rsquo;s helium business (less than 10% of sales) from less demand and Russian exports, but we expect some recovery.&rdquo; The report continued, stating, &ldquo;APD&rsquo;s volumes have been robust in all three regions [Americas, EMEA, Asia] in the last several quarters.&rdquo;</p>



<p>From its current price of $237.56, I&rsquo;d like to see APD initially refill its bearish gap around $265. And again, while we wait for that to happen, we can collect its yield.</p>



<h2><strong>Bloom Energy (BE)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/shutterstock_1473297014-5-300x169.jpg" alt="BE stock Bloom Energy logo on a building"><div>Source: Sundry Photography / Shutterstock</div></div><p>Another one of the top hydrogen stocks to buy is <strong>Bloom Energy</strong>&nbsp;(NYSE:<span><a href="https://investorplace.com/stock-quotes/be-stock-quote/"><strong>BE</strong></a></span>), which recently dipped to $9, but is starting to pivot. The company &mdash; which designs, manufactures, sells and installs solid-oxide fuel cell systems for on-site power generation &mdash; is teaming with&nbsp;<strong>Shell&nbsp;</strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/shel-stock-quote/"><strong>SHEL</strong></a></span>) to&nbsp;<a href="https://newsroom.bloomenergy.com/news/bloom-energy-inc-signs-agreements-with-shell-to-investigate-opportunities-for-innovative-large-scale-renewable-hydrogen-energy-projects">study decarbonization solutions</a> with its hydrogen electrolyzer technology.&nbsp;</p>



<p>The two are expected to develop replicable, large-scale solid oxide electrolyzer systems that could produce hydrogen at Shell&rsquo;s assets, they noted.</p>



<p>Better, analysts at <strong>Truist </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/tfc-stock-quote/"><strong>TFC</strong></a></span>) just upgraded Bloom Energy to a Hold rating with an $11 target.&nbsp;</p>



<p>&ldquo;Truist&rsquo;s Jordan Levy believes current valuation at ~11x his estimated 2025 EBITDA accurately reflects both the opportunities and challenges facing BE&rsquo;s fuel cell business and early hydrogen efforts,&rdquo;&nbsp;<a href="https://seekingalpha.com/news/4076786-bloom-energy-upgraded-at-truist-seeing-better-growth-and-customer-traction">reported Seeking Alpha.</a></p>



<p>Fortunately, recent earnings negativity appears to have been fully priced in.</p>



<p>In its <a href="https://seekingalpha.com/pr/19625900-bloom-energy-reports-fourth-quarter-and-full-year-2023-financial-results-record-full-year">fourth quarter,</a> the company&rsquo;s EPS of seven cents missed by three cents. Revenue of $356.9 million &mdash; down 22.8% year over year &mdash; missed by $117.77 million. And unfortunately, Bloom also guided for revenues of $1.4 billion to $1.6 billion, which was below expectations for $1.74 billion. Again, though, that appears to be priced in.</p>



<h2><strong>Global X Hydrogen ETF (HYDR)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/hydrogen-hexagons-300x169.png" alt="An image of a hexagon structure with the text H2 Hydrogen on a blue background"><div>Source: Alexander Limbach / Shutterstock</div></div><p>Or, we can buy the dip and diversify with top hydrogen stocks with <strong>Global X Hydrogen&nbsp;ETF</strong>&nbsp;(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/hydr-stock-quote/"><strong>HYDR</strong></a></span>).</p>



<p>With an expense ratio of 0.5%, the ETF invests in stocks involved with hydrogen production and hydrogen fuel cell development and manufacturing. Some of its top holdings include Bloom Energy,&nbsp;<strong>Plug Power</strong>&nbsp;(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/plug-stock-quote/"><strong>PLUG</strong></a></span>),&nbsp;<strong>Ballard Power</strong>&nbsp;(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/bldp-stock-quote/"><strong>BLDP</strong></a></span>),&nbsp;<strong>ITM Power</strong>&nbsp;(OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/i%EF%BF%BCtmpf-stock-quote/"><strong>ITMPF</strong></a></span>) and&nbsp;<strong>Ceres Power</strong>&nbsp;(OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/cpwhf-stock-quote/"><strong>CPWHF</strong></a></span>).</p>



<p>Over the last few days, the HYDR ETF found strong support and is just starting to pivot higher from oversold conditions.&nbsp;</p>



<p>With patience and new catalysts like those mentioned above, HYDR could eventually make its way back to $8.50. For example, should we see more government investments or if the tax issue is resolved in favor of the industry, these hydrogen stocks could get explosive again.</p>



<p>Right now, all we can do is invest in what should be an explosive industry and wait.&nbsp;</p>



<p>What&rsquo;s nice about the HYDR ETF is we can gain exposure to 25 related hydrogen stocks at less than $6 a share at the moment.</p>



<p><em>On the date of publication, Ian Cooper did not hold (directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a></em></p>
<div><p>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/3-hydrogen-stocks-to-buy-on-the-dip-march-2024/">3 Hydrogen Stocks to Buy on the Dip: March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Hydrogen Stocks to Buy on the Dip: March 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Investors may want to pay close attention to <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/">hydrogen stocks</a>.</p>



<p>All as the U.S. fights to make hydrogen happen. For one, according to&nbsp;Energy Secretary Jennifer Granholm,&nbsp;<a href="https://www.eenews.net/articles/ceraweek-biden-admin-mounts-defense-of-clean-hydrogen/">as noted by <em>E&amp;E News</em></a>, the &ldquo;Treasury Department would come out with a &lsquo;final rule shortly&rsquo; referring to guidance for companies to obtain new hydrogen tax credits under the Inflation Reduction Act known as 45V.&rdquo;</p>



<p>Companies like&nbsp;<strong>Exxon Mobil</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/xom-stock-quote/"><strong>XOM</strong></a>) have already said they&nbsp;<a href="https://www.worldoil.com/news/2024/3/20/exxonmobil-ceo-won-t-proceed-with-hydrogen-project-without-biden-s-ira-tax-credits/#:~:text=(Bloomberg)%20%E2%80%93%20Exxon%20Mobil%20Corp,Woods%20said%20during%20an%20interview.">won&rsquo;t proceed</a>&nbsp;with low-carbon hydrogen projects if the Biden Administration withholds tax incentives for natural gas-fed facilities, said CEO Darren Woods, as noted by <em>WorldOil.com</em>.</p>



<p>Two, the Department of Energy recently announced&nbsp;<a href="https://www.energy.gov/articles/biden-harris-administration-announces-750-million-support-americas-growing-hydrogen#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%94%20As%20part%20of,the%20growing%20clean%20hydrogen%20industry.">$750 million in funding</a>&nbsp;for 52 projects across 24 states to help get hydrogen going. And three,&nbsp;<a href="https://www.natlawreview.com/article/department-energy-establishes-clean-hydrogen-roadmap">as noted by <em>NatLawReview.com</em></a>, clean hydrogen is key to achieving the U.S. goal of a 100% clean electrical grid by 2035, and net-zero emissions by the time 2050 rolls around.</p>



<p>Should things progress well, hydrogen stocks should explode higher. In fact, here are seven top hydrogen stocks you may want to consider.</p>



<h2><strong>Air Products and Chemicals (APD)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/apd_air_products1600-300x169.png" alt="Air Products (APD) logo on the Arts Quest building, Air Products is a sponsor of Air Products Town Square at Arts Quest in Bethlehem, PA"><div>Source: Andy Borysowski / Shutterstock.com</div></div><p>One of the top hydrogen stocks to buy and hold is&nbsp;<strong>Air Products and Chemicals</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/apd-stock-quote/"><strong>APD</strong></a>).</p>



<p>For one, with a yield of 3%, it recently announced a dividend of $1.77, which is payable on May 13 to shareholders as of April 1. Two,&nbsp;Air Products Chairman and Chief Executive Officer&nbsp;Seifi Ghasemi&nbsp;recently said the&nbsp;<a href="https://www.airproducts.com/company/news-center/2024/01/0125-air-products-increases-quarterly-dividend">company expects to return about $1.6 billion to shareholders</a>&nbsp;in 2024, extending its track record of more than 40 years of increasing the dividend.</p>



<p>Helping,&nbsp;<a href="https://www.moomoo.com/news/flash/17748031/wolfe-research-initiates-coverage-on-air-products-chemicals-with-outperform?level=1&amp;data_ticket=1712876770208478">analysts at <strong>Wolfe Research</strong></a>&nbsp;just initiated coverage of APD with an outperform rating. <strong>Citi</strong> analysts also raised their price target on APD to $285 a share, with a buy rating.&nbsp;</p>



<p>Even&nbsp;<a href="https://ng.investing.com/news/stock-market-news/bofa-upgrades-air-products-says-share-price-has-upside-potential-93CH-1221487"><strong>Bank of America </strong>says APD is a buy</a>&nbsp;with a price target of $272. That upgrade, according to <em>Investing.com</em>, &ldquo;reflects a positive reassessment of the company&rsquo;s valuation in comparison to its peer, Linde, a reduced perception of risk in its speculative project backlog, and a stronger belief in the resilience of its base business.&rdquo;</p>



<h2><strong>Linde (LIN)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/lin_linde_1600-300x169.png" alt="Logo of Linde AG (LIN) in Hanover, Germany - The Linde Group is a multinational chemical company"><div>Source: nitpicker / Shutterstock.com</div></div><p>Another one of the top hydrogen stocks to buy is&nbsp;<strong>Linde</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/lin-stock-quote/"><strong>LIN</strong></a>), a global industrial gases company that yields 1.23%. Granted, it&rsquo;s a $453 stock, there&rsquo;s still plenty of upside remaining here.&nbsp;</p>



<p>Helping, analysts at&nbsp;<a href="https://www.marketscreener.com/quote/stock/LINDE-PLC-46923083/news/Mizuho-Securities-Raises-Linde-Price-Target-to-510-From-503-Maintains-Neutral-Rating-46288197/"><strong>Mizuho</strong> recently raised their price target</a>&nbsp;on LIN to $510 from $503. <a href="https://markets.businessinsider.com/news/stocks/linde-lin-new-buy-recommendation-for-this-basic-materials-giant-1033239351"><strong>BMO Capital</strong> also raised</a>&nbsp;its price target to $510.&nbsp;</p>



<p>The firm cited Linde&rsquo;s &ldquo;thriving business,&rdquo; and company leadership keen on delivering returns to shareholders and exploring growth opportunities. &ldquo;These factors, coupled with Linde&rsquo;s substantial free cash flow (<a href="https://investorplace.com/stock-quotes/fcf-stock-quote/"><strong>FCF</strong></a>), are expected to support the company&rsquo;s trajectory of double-digit earnings per share (<a href="https://investorplace.com/stock-quotes/eps-stock-quote/"><strong>EPS</strong></a>) growth,&rdquo;&nbsp;<a href="https://www.investing.com/news/stock-market-news/linde-shares-target-raised-to-510-on-strong-fundamentals-93CH-3331082">said the firm, as noted by <em>Investing.com</em></a>.</p>



<p>In its most recent quarter, the company posted earnings per share of $3.59, which beat by nine cents. Revenue of $8.3 billion &ndash; up 5.1% year over year &ndash; beat by $230 million. Moving forward, LIN expects to adjusted EPS to fall in a range of $3.58 to $3.68, which is below consensus of $3.72. For the full year, it expects to posted adjusted EPS of $15.25 to $15.65. The consensus estimate is $15.45, and represents growth of 8% to 11%.</p>



<h2><strong>Bloom Energy (BE)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/shutterstock_1473297014-5-300x169.jpg" alt="BE stock Bloom Energy logo on a building"><div>Source: Sundry Photography / Shutterstock</div></div><p>Since bottoming out at around $8.95, shares of&nbsp;<strong>Bloom Energy</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/be-stock-quote/"><strong>BE</strong></a>) rallied to a recent high of $12.51. And while it has since backed off to about $11.38, it&rsquo;s getting positive attention.&nbsp;</p>



<p>Analysts at <strong>Evercore</strong>, for example, initiated an outperform rating on the BE stock, with a price target of $21 a share. &ldquo;Combined with wind, solar, nuclear, and other renewable resources, Bloom is positioned for longer-term growth in green hydrogen, a principal fuel for a low-carbon future,&rdquo; said the analysts,&nbsp;<a href="https://www.investing.com/news/company-news/bloom-energy-stock-started-at-outperform-at-evercore-on-longterm-growth-potential-93CH-3359263">as quoted by <em>Investing.com</em></a>.</p>



<p><a href="https://seekingalpha.com/news/4076786-bloom-energy-upgraded-at-truist-seeing-better-growth-and-customer-traction"><strong>Truist</strong> also just upgraded Bloom Energy</a>&nbsp;to a hold with a price target of $11 a share. The company was also just awarded up to $75 million in federal tax credits to expand fuel cell and electrolyzer production capacity at its Fremont, California manufacturing plant. Reportedly, that facility can produce more than 1 GW/year.&nbsp;</p>



<p>Even better, the company is working with&nbsp;<strong>Shell</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/shel-stock-quote/"><strong>SHEL</strong></a>) to&nbsp;<a href="https://seekingalpha.com/news/4076545-bloom-energy-surges-on-hydrogen-electrolyzer-tech-deal-with-shell?hasComeFromMpArticle=false">study decarbonization solutions</a>&nbsp;using Bloom&rsquo;s hydrogen electrolyzer technology.</p>



<h2><strong>Ballard Power (BLDP)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/bldp-stock-1-300x169.jpg" alt="Ballard Power Systems Inc logo visible on display screen"><div>Source: Pavel Kapysh / Shutterstock.com</div></div><p><strong>Ballard Power</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bldp-stock-quote/"><strong>BLDP</strong></a>) has been interesting. Since bottoming out at around $2.70, the stock has since gapped to a recent high of $3.38. From here, if it can break above resistance at $3.38, it could potentially retest $3.80 near term.&nbsp;</p>



<p>Helping, the company just&nbsp;<a href="https://www.ballard.com/about-ballard/newsroom/news-releases/2024/03/14/ballard-announces-%2440-million-in-doe-grants-to-support-build-out-of-integrated-fuel-cell-production-gigafactory-in-rockwall-texas">received $40 million in Department of Energy grants</a>&nbsp;to support its build-out of an integrated full cell production Gigafactory in Texas. Plus, Ballard just announced&nbsp;<a href="https://www.prnewswire.com/news-releases/ballard-announces-largest-order-in-company-history--1-000-engines-to-power-solaris-buses-across-europe-302104255.html">its biggest order in company history</a>&nbsp;after signing a long-term supply agreement with <strong>Solaris Bus &amp; Coach</strong> for 1,000 hydrogen fuel cell engines for the European transit bus market.</p>



<p>&ldquo;These engines are expected to be deployed in buses across Europe where Solaris buses powered by Ballard fuel cell engines currently operate in over 22 European cities,&rdquo;&nbsp;<a href="//34F05B8E-0FED-48E8-B2F6-5B0F78405A9A/Solaris%20Bus">added the company press release</a>.&nbsp;</p>



<p>We&rsquo;ll get a better idea of how the company is doing, with guidance when it releases first quarter earnings on Tuesday, May 7 at 11am EST.</p>



<h2><strong>Plug Power (PLUG)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/plug1600-3-300x169.png" alt="Person holding smartphone with logo of US hydrogen fuel cell company Plug Power Inc. on screen in front of website. Focus on phone display. Unmodified photo. PLUG stock"><div>Source: T. Schneider / Shutterstock.com</div></div><p>We can also look at beaten-down shares of&nbsp;<strong>Plug Power</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/plug-stock-quote/"><strong>PLUG</strong></a>).</p>



<p>For one, according to the company, it has resolved its &ldquo;going concern issue.&rdquo; In fact,&nbsp;<a href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Highlights-Year-of-Strategic-Growth-and-Advancements-in-Accelerating-the-Green-Hydrogen-Economy/#:~:text=Financial%20Stability%20and%20Growth%3A%20Plug,concern%2C%20demonstrating%20the%20Company's%20financial">according to a company press release</a>, &ldquo;Plug has resolved the going concern issue as previously disclosed in the Form 10-Q for the quarter ended September 30, 2023, and has concluded that there is no longer substantial doubt of the Company&rsquo;s ability to continue as a going concern.&rdquo;</p>



<p>Two, the company&rsquo;s revenue ballooned to $891 million in 2023, a 27% jump year over year. In addition, while&nbsp;<a href="https://finance.yahoo.com/news/plug-power-stock-55-upside-151300835.html">Evercore ISI cut its price target on PLUG to $6 from $9</a>, it still has an outperform rating on the stock. Also, with its production facility online it will reportedly be able to produce 15 tons of green hydrogen per day, and to about 40 tons by year-end.&nbsp;</p>



<p>And it expanded its partnership with <strong>Uline</strong>, which will include &rdquo;the&nbsp;integration of on-site hydrogen infrastructure with the installation of a 18,000-gallon hydrogen storage tank and 17 hydrogen dispensers to service four distribution centers within the campus. The partnership also includes the addition of 250 fuel cell forklifts that will operate on hydrogen generated on-site through Plug&rsquo;s state-of-the-art infrastructure,&rdquo;&nbsp;<a href="https://www.globenewswire.com/news-release/2024/02/23/2834382/9619/en/Plug-and-Uline-Expand-Partnership-to-Supply-Hydrogen-and-Fuel-Cells-at-Four-Additional-Sites.html">as noted in a press release</a>.</p>



<h2><strong>Direxion Hydrogen ETF (HJEN)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/12/hydrogen-plug-1600-300x169.jpg" alt="Hydrogen Stocks Man hold a fuel dispenser with hydrogen on gas station. h2 combustion engine for emission free eco friendly transport. Plug Power is one such company working on this power source. undervalued hydrogen stocks"><div>Source: Alexander Kirch / Shutterstock.com</div></div><p>Or, if you want to gain bigger exposure to hydrogen, there&rsquo;s always an exchange traded fund (ETF), like the&nbsp;<strong>Direxion Hydrogen ETF</strong>&nbsp;(NYSEARCA:<a href="https://investorplace.com/stock-quotes/hjen-stock-quote/"><strong>HJEN</strong></a>).</p>



<p>With an expense ratio of 0.45%, the ETF offers exposure to about 30 hydrogen stocks with a focus on hydrogen production and generation, storage and supply, fuel cells and batteries, in addition to systems, solutions, membranes, and catalysts. Some of its top holdings include&nbsp;Bloom Energy,&nbsp;<strong>Air Liquide</strong> (OTCMKTS:<a href="https://investorplace.com/stock-quotes/aiquy-stock-quote/"><strong>AIQUY</strong></a>),&nbsp;Ballard Power, Linde, and&nbsp;Plug Power.</p>



<p>What&rsquo;s nice about an ETF like HJEN is that it offers solid exposure to multiple hydrogen names at a low cost. For example, if I wanted to make 100 shares of HJEN, it would cost me close to $1,100. If I were to buy just one of the ETF&rsquo;s holdings such as Linde, for example, it would cost me closer to $4,540. I&rsquo;d rather pay $1,100 for greater exposure to hydrogen.</p>



<h2><strong>Global X Hydrogen ETF (HYDR)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/hydrogen-300x169.jpg" alt="An image of the name H2 presented in the form of green leaves on a table next to other hydrogen-based products"><div>Source: Shutterstock</div></div><p>Or, you could always diversify with the&nbsp;Global X Hydrogen&nbsp;ETF&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/hydr-stock-quote/"><strong>HYDR</strong></a>).</p>



<p>With an expense ratio of 0.5%, the ETF invests in stocks involved with hydrogen production, and the development and manufacturing of hydrogen fuel cells. Some of its top holdings include Bloom Energy,&nbsp;Plug Power,&nbsp;Ballard Power,&nbsp;<strong>ITM Power&nbsp;</strong>(OTCMKTS:<a href="https://investorplace.com/stock-quotes/itmpf-stock-quote/"><strong>ITMPF</strong></a>) and&nbsp;<strong>Ceres Power</strong>&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/cpwhf-stock-quote/"><strong>CPWHF</strong></a>).</p>



<p>While its chart is a bit ugly, give it time. With a good deal of excitement in hydrogen, HYDR could easily bounce well off its current lows. Last trading at $5.60, I&rsquo;d like to see it triple from here when hydrogen names start to take off again. According to <strong>Goldman Sachs</strong> and <strong>Bank of America</strong>, hydrogen could potentially be a $12 trillion market.</p>



<p>In addition,&nbsp;according to the&nbsp;<a href="https://www.iea.org/reports/hydrogen">International Energy Agency</a>, global hydrogen demand will need to double from about 94Mt in 2021 to more than 180 by 2030. Europe may need to see a six-fold increase in demand by 2050.&nbsp;</p>



<p><em>On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/wall-street-favorites-7-hydrogen-stocks-with-strong-buy-ratings-for-april-2024/">Wall Street Favorites: 7 Hydrogen Stocks with Strong Buy Ratings for April 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>