5 Best EV Charging Stocks to Buy Now

3. SunPower Corporation (NASDAQ:SPWR)

Number of Hedge Fund Holders: 30

SunPower Corporation (NASDAQ:SPWR) has collaborated with Wallbox N.V. to use solar energy to power electric vehicles. The California-based solar energy provider started installing EV charging stations for Wallbox customers in July 2021.

With 3.9 million shares worth $89 million, New York-based investment firm D E Shaw is the biggest shareholder of SunPower Corporation (NASDAQ:SPWR). Overall, 22 hedge funds owned shares of the solar energy company at the end of the September quarter, compared to 25 in Q2.

The company’s revenue grew 17% to $323.6 million in the third quarter, up from $274.8 million in the second quarter of 2020. SunPower Corporation’s (NASDAQ:SPWR) residential solar energy business added 14,200 new customers during the period, representing a 29% increase.