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 our detailed analysis of these stocks, go directly to the 11 Best Climate Change Stocks To Buy According To Hedge Funds.

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

Number of Hedge Fund Holders: 44

Few renewable energy firms have the global clout that Enphase Energy, Inc. (NASDAQ:ENPH) possesses. The company markets home energy solutions and has operations across the world. It recently announced plans to market microconverters to residential and commercial users in Brazil. The company has also teamed up with a fast-growing domestic solar service provider in the US to market solar systems to a wider audience in the country. It is placed fifth on our list of 11 best climate change stocks to buy according to hedge funds.

The growth of Enphase Energy, Inc. (NASDAQ:ENPH) as a household name in the US solar market is acknowledged by investment advisory KeyBanc. Analyst Sophie Karp initiated the stock with an Overweight rating and a price target of $179 on September 21. Karp said the firm “enjoys significant market share in its core microinverters business”.

At the end of the second quarter of 2021, 44 hedge funds in the database of Insider Monkey held stakes worth $724 million in Enphase Energy, Inc. (NASDAQ:ENPH), down from 49 the preceding quarter worth $803 million.

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Enphase Energy, Inc. (NASDAQ:ENPH) was one of them. Here is what the fund said:

“Also in the solar space, we initiated a position in Enphase Energy (classified in the IT sector), which designs and manufactures microinverters for residential and small commercial solar photovoltaic (PV) systems. Enphase was the first company to commercialize microinverters for residential and small commercial solar PV systems. A microinverter, a type of MLPE, is a small inverter placed directly on the back of each solar module, as opposed to the traditional system of one string inverter on the side of the building.”