5 Best EV Stocks to Invest In

2. Tesla, Inc. (NASDAQ: TSLA)

Number of  Hedge Fund Holders: 62

Tesla, Inc. (NASDAQ: TSLA) is a developer of EVs and energy generation and storage systems in the US and internationally. It has two segments, Automotive and Energy Generation and Storage, and it ranks 2nd on our list of the best EV stocks to invest in.

On June 15th, Mizuho reiterated a Buy rating for Tesla, Inc. (NASDAQ: TSLA) in light of strong battery electric vehicle sales for the company and the fact that it is the market share leader for BEVs as of the first quarter of 2021, with a 24% market share. For the first quarter, it also had an EPS of $0.93, versus the estimates of $0.78. Revenue was reported to be $10.39 billion, representing 38.11% growth year over year. The company has a gross profit margin of 12.18%.

By the end of the first quarter of 2021, 62 hedge funds out of the 866 tracked by Insider Monkey held stakes in this company. The total value of their stakes was about $10 billion. Comparatively, in the previous quarter 68 hedge funds held stakes in the company worth roughly $12.3 billion.