5 Best Climate Change Stocks To Buy According to Hedge Funds

In this article, we discuss the 5 best climate change stocks to buy according to hedge funds. If you want to read about some more climate change stocks, go directly to 14 Best Climate Change Stocks To Buy According to Hedge Funds.

5. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 43 

Enphase Energy, Inc. (NASDAQ:ENPH) markets home energy solutions and has operations across the world. On March 11, investment advisory Piper Sandler maintained a Neutral rating on Enphase Energy, Inc. (NASDAQ:ENPH) stock and lowered the price target to $113 from $117.

At the end of the fourth quarter of 2023, 43 hedge funds in the database of Insider Monkey held stakes worth $638 million in Enphase Energy, Inc. (NASDAQ:ENPH), compared to 40 the preceding quarter worth $521 million.

In its Q4 2023 investor letter, Aristotle Atlantic Partners, an asset management firm, highlighted a few stocks and Enphase Energy, Inc. (NASDAQ:ENPH) was one of them. Here is what the fund said:

“We sold our position in Enphase Energy, Inc. (NASDAQ:ENPH) due to slowing demand for residential solar energy, primarily driven by rising interest rates and potentially increasing competition. During the second quarter earnings report in July, the company lowered its guidance for the third quarter microinverter, and we believed there was a heightened risk that Enphase would lower guidance again. We remain optimistic about Enphase’s competitive advantages over the long term in the residential solar energy market, but we prefer to wait for more apparent evidence of a rebound before considering a reinvestment in the company.”