5 Best Energy Stocks for 2021

2. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 68  

Tesla, Inc. (NASDAQ: TSLA) is a San Carlos-based electric vehicle maker with significant stakes in the clean energy business. It is placed second on our list of 10 best energy stocks for 2021 and was founded in 2003. The company is owned by eccentric billionaire Elon Musk who also runs several technology companies. Investment advisory Canaccord in April said that it believes Tesla is set to increase spending on clean energy storage and power generation with an aim to attack and conquer the trillion dollar energy market across the world. 

Tesla, Inc. could produce $8 billion in revenues from energy generation alone within the next three years, an analyst at Canaccord has forecast. With EV sales already booming, Tesla stock, already one of the most expensive on the market, could rise even higher.

At the end of the fourth quarter of 2020, 68 hedge funds in the database of Insider Monkey held stakes worth $12.3 billion in the firm, up from 67 in the preceding quarter worth $8.1 billion.