5 Best Electric Car Stocks to Buy Now

4. Ford Motor Company (NYSE: F)

Number of Hedge Fund Holders: 49

Ford Motor Company (NYSE: F) is an American automaker company with headquarters in Michigan, U.S. The company is using electrification in vehicles and plans to spend $30 billion on electric vehicles by 2025. Recently, Ford Motor Company (NYSE: F) announced that by 2030, 40% of its vehicles will go all-electric. The company stands fourth on our list of the best electric car stocks to buy now.

In Q2 2021, Ford Motor Company (NYSE: F) generated over $26.7 billion in revenues, compared with $19.3 billion, presenting a 45.1% year-over-year growth. The EPS of $0.13 beat the market consensus by $0.09. The company reported a 117% growth in electrified vehicle sales in the U.S. in June. In the first half of 2021, the retail truck sales at Ford Motor Company (NYSE: F) grew by 2.6%. Due to the strong earnings, the company raised its 2021 guidance and expects an adjusted EBIT of between $9 billion and $10 billion. John Murphy, an analyst at BofA, raised the investment bank’s price target on Ford Motor Company (NYSE: F) to $18, with a ‘Buy’ rating. The stock has gained 108.5% in the past year and 63.7% year to date.

The hedge funds are also taking interest in Ford Motor Company (NYSE: F), as 49 funds have positions in the company in the first quarter of 2021, compared with 41 in the previous quarter. The total value of these stakes is $2.1 billion.