2 Hydrogen Stocks to Buy in August if You Believe in the Turnaround
Key PointsPlug's turnaround efforts have resulted in a 40% increase in stock price over the last year.
Two hydrogen stocks are worth considering for investment in August 2026 if one believes in the industry's turnaround. Plug Power (NASDAQ: PLUG) and Bloom Energy (NYSE: BE) are two companies that could offer significant growth potential.
Plug Power has shown improvement in recent quarters, with an adjusted loss per share of just $0.07, beating expectations. Revenue reached $178.3 million, and gross margins approached breakeven. The company has cut costs by 50% year over year and deployed units more than doubled to 1,666. With $160 million in cash and equivalents, Plug has the runway to hit its targets and hit its growth goals.
Bloom Energy has been a standout performer in the sector, with solid oxide fuel cells becoming increasingly in-demand for AI data centers. In Q2 2026, Bloom's operating earnings jumped 680% year over year, and revenue grew to over $1 billion, a 165% increase from the previous year. Management raised its guidance, and the company now has $2.67 billion in cash and equivalents on the balance sheet.
However, Bloom's high valuation may be a concern, with a trailing P/E ratio nearing 300. Despite this, the company's growth potential remains strong as AI-power demand continues to expand worldwide.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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