5 Best Automotive Stocks to Invest in Now

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1. Fisker Inc. (NYSE: FSR)

Number of Hedge Fund Holders: 18

Fisker Inc. (NYSE: FSR) is a California-based electric vehicle automaker. It was founded in 2016 and is placed first on our list of 10 best automotive stocks to invest in now. The company claims that Fisker Ocean, one of the vehicles it is working on, is the most environment-friendly car in the world. Fisker Ocean is an electric-powered SUV made from recycled and vegan materials. The production of this vehicle is expected to begin in 2022. The company has also announced plans to build an electric car with a range of 400 miles on a single charge. 

Fisker Inc. (NYSE: FSR) has a market cap of more than $4 billion. On April 23, investment bank Morgan Stanley gave Fisker an Overweight rating and said the electric vehicle manufacturing sector was experiencing underappreciated growth that would accelerate with a new US government keen to reduce greenhouse gas emissions and incentivize EV production. 

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Adage Capital Management was a leading shareholder in the firm with 2.9 million shares worth more than $42 million.  

You can also take a peek at 10 Best Biotech Stocks To Buy For 2021, and Top 10 Best Freelancing Platforms and Websites for 2021.

 

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