2 Hydrogen Stocks to Buy in August if You Believe in the Turnaround
Plug Power and Bloom Energy will benefit from a sustained turnaround in the hydrogen industry.
Within the realm of hydrogen stocks, August 2026 presents two distinct reasons to remain hopeful. Plug Power (NASDAQ: PLUG) and Bloom Energy (NYSE: BE) stand out as compelling options for investors who believe in the sector's resurgence. Plug Power, representing the cyclical nature of the hydrogen industry, appears to be on a path towards profitability.
In the second quarter, the company reported an adjusted loss per share of $0.07, surpassing expectations by just a penny. Revenue for the quarter amounted to $178.3 million, with gross margins nearing breakeven. Management at Plug Power has been diligent in reducing costs while simultaneously fostering growth. Operating expenses decreased by 50% year over year, while the number of deployed units more than doubled to 1,666. Moreover, service revenue saw an impressive 82% increase in the same timeframe.
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