5 Best Autonomous Vehicle ETFs and Stocks to Invest In

In this article, we will be taking a look at the 5 best autonomous vehicle ETFs and stocks to invest in. To read our detailed analysis of these stocks and the AV sector, you can go directly to see the 10 Best Autonomous Vehicle ETFs and Stocks to Invest In.

5. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 45

Baidu, Inc. (NASDAQ:BIDU), a Chinese tech company, delved into the AV sector in 2014. The company develops AV software and recently announced that it would be producing Level 4 autonomous cars as well.

Alex Yao, an analyst at JPMorgan, upgraded Baidu, Inc. (NASDAQ:BIDU) shares from Neutral to Overweight on August 31. The analyst also raised his price target on the stock from $160 to $200.

This September, Baidu, Inc. (NASDAQ:BIDU) shares rose in light of the JPMorgan upgrade. Analyst Yao raised his 2022 and 2023 EPS estimates for the company by 20% and 22%, respectively, in light of Baidu, Inc.’s (NASDAQ:BIDU) robust second-quarter results.

Baidu, Inc. (NASDAQ:BIDU) had 45 hedge funds long its stock in the second quarter. Their total stake value was about $2.1 billion.

Horos Asset Management, an investment management firm, mentioned Baidu, Inc. (NASDAQ:BIDU) in its first quarter 2022 investor letter. Here’s what the firm said:

“Although the initial reaction of the Chinese government was passive, it seems that the blacklist published by the SEC, which already includes companies as important as the technology giant Baidu, has shaken things up. Thus, at the beginning of April the CSRC (China Securities Regulatory Commission) announced possible changes in its regulation that would allow this inspection by foreign auditors, provided that the companies previously communicate to this body the state secrets that would be exposed, as well as the sensitive information that they might have to hand over, and the subsequent audit is carried out in a framework of collaboration with the CSRC. In short, a move in the direction desired by the SEC, although still far from the optimal result, that is, unrestricted access to information.

While these negotiations between the two regulatory bodies are progressing, Chinese companies have to decide how best to preserve their interests. In this regard, some companies are already listed on the Hong Kong stock exchange, as is the case of the three major technology companies (Alibaba Group, Tencent Holdings and Baidu).”