5 Best Lithium and Battery Stocks to Buy Today

2. Enphase Energy, Inc. (NASDAQ: ENPH)

No of HFs: 42

Total Value of HF Holdings: $1 Billion

Enphase Energy, Inc. is an energy technology company based in Fermont, California. They develop and produce home energy software-driven solutions spanning solar generation, home energy storage, and web-based monitoring control.

The company has 19% market share in the US and we are still in the early innings of residential installation of solar energy. The solar market for residential and commercial use will continue to grow.

For this stock, the top hedge holder is Daniel Patrick Gibson’s Sylebra Capital Management with more than $345 million invested in the stock at the end of September.

During the third quarter of 2020, the company reported total revenue of $178.5 million, with cash flow from operations of $67.5 million, and an ending cash balance of $661.8 million. GAAP gross margin of 53.2%, record non-GAAP operating income of $43.7 million.