5 Best Self Driving Car Stocks to Invest In

4. General Motors Company (NYSE: GM)

Number of Hedge Fund Holders: 86

General Motors Company (NYSE: GM) is an automobile manufacturer selling vehicles and automobile parts across the world. The company’s subsidiary Cruise is a majority-owned autonomous vehicle manufacturer. It ranks 4th on our list of the best self driving car stocks to invest in.

On June 23rd, General Motors Company (NYSE: GM) and MP2 Energy announced their partnership, aiming to provide renewable electricity in Texas alongside free overnight charging for residents owning GM electric cars. Barclays has also raised the price target for the stock to $74 versus the previous $70 target. In the first quarter of 2021, General Motors Company (NYSE: GM) had an EPS of $2.25, beating estimates by $1.20. Its revenue for the quarter was $32.47 billion, missing estimates by -$432.32 million. The stock has a forward PE ratio of 9.43 and has gained 41.06% in the past 6 months and 44.75% year to date. The company has a gross profit margin of 13.57%.

By the end of the first quarter of 2021, 86 hedge funds out of the 866 tracked by Insider Monkey held stakes in General Motors Company (NYSE: GM) worth roughly $8.05 billion. This is compared to 70 hedge fund holders in the previous quarter, with a total stake value of about $6.33 billion.