5 Best EV Stocks for the Long Term

4. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 55   

Ford Motor Company (NYSE:F) is a Michigan-based automaker. The company is perhaps the largest and most established traditional carmaker that has emerged as a serious contender in the EV market over the past few years. It recently unveiled the all-new Ford F-150 all electric truck, the EV version of the popular F-150 model, and has lined up more releases over the year. Earlier this month, the company revealed that EV sales for October had jumped 195% year-on-year to 14,062 vehicles. 

Benchmark analyst Michael Ward recently raised the price target on Ford Motor Company (NYSE:F) stock to $20 from $18 and kept a Buy rating on the shares, underlining the earnings beat of the firm in the third quarter. 

At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $2 billion in Ford Motor Company (NYSE:F), up from 49 in the preceding quarter worth $2.1 billion.

In its Q1 2020 investor letter, Greenlight Capital Fund, an asset management firm, highlighted a few stocks and Ford Motor Company (NYSE:F) was one of them. Here is what the fund said:

“General Motors (GM) was a disappointment. The damage from last year’s strike consumed most of the cash flow GM would have otherwise generated in 2019. We had expected a strong bounce back in earnings and cash flow in 2020, but the annual guidance, while meeting Wall Street expectations, was worse than we expected. Further, the cash burned during the strike needed to be re-earned in order to protect GM’s investment grade rating. Pre-crisis, there would have been, at best, a minimal share repurchase late in the year. At the analyst day, our hopes that 2020 would finally be the year were dashed. We sold our stock. Over our five-year holding period, we made a 9.6% IRR on GM. In the difficult environment, its most comparable peer, Ford, lost about half its value.”