5 Best Wind Power and Solar Stocks To Buy

2. Tesla Inc (NASDAQ:TSLA)

Number of Hedge Fund Investors: 82

Tesla’s solar panels business and its market leading position in the EV space makes it a notable stock in the solar and renewable energy industry. A total of 82 hedge funds tracked by Insider Monkey had stakes in Tesla as of the end of the fourth quarter of 2023.

O’keefe Stevens Advisory stated the following regarding Tesla, Inc. (NASDAQ:TSLA) in its fourth quarter 2023 investor letter:

“In my Q4 2022, l made three predictions: 1. One of our top 25 holdings gets acquired 2. TSLA is a sub $200B market cap by the end of 2023 3. Crypto, the final blow.

Tesla, Inc. (NASDAQ:TSLA) is a sub $200B market cap by the end of 2023. Grade: D. TSLA performed contrary to expectations, appreciating approximately 100% in 2023 and ending the year with an $880 billion market cap. We were “just a bit outside,” but I’m not convinced our reasoning was flawed.

The typical strong correlation between earnings estimates and stock prices did not hold for TSLA during the year. Positive revisions suggest a company outperformed expectations, resulting in a higher price/valuation. Negative revisions suggested estimates were too high, and the stock should decline to meet a weaker outlook…” (Click here to read the full text)