5 Best Stocks to Invest in 2021 For Long-Term Profits

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

Number of Hedge Fund Holders: 48

Enphase Energy is operating in an extremely niche and growth-oriented segment of the solar market. It provides software and hardware solutions to monitor solar energy usage; microinverters to convert direct current power from solar panels into grid-compatible alternating current (AC). The company dominates the market because of its innovation. In March, the stock was upgraded by Susquehanna and received a price target of $200. The firm likes the stock amid a rising demand of solar products from the residential sector. The firm’s analyst said that the recent selloff provides an attractive entry point for those who can “stomach short-term volatility.”

As of the end of the fourth quarter, there were 48 hedge funds in Insider Monkey’s database that held stakes in ENPH, compared to 42 funds in the third quarter. Sylebra Capital Management, with 1.97 million shares of ENPH, is the biggest stakeholder in the company.