5 Hot EV Stocks To Buy Now

3. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 47 

Avg Volume: 52.1M

YTD Perf: +16.17%

Ford Motor Company (NYSE:F) designs, manufactures, markets, and services a range of Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles worldwide. On January 27, Ford revealed that it was recalling nearly 383,000 SUVs in the US due to a problem with the rear-view cameras. This issue can reduce rear visibility and increase the risk of a crash.

On January 25, JPMorgan analyst Ryan Brinkman maintained an Overweight rating on Ford Motor Company (NYSE:F) stock and lowered the price target to $15 from $16, noting that price reductions from Tesla are good for customers, bad for Tesla, bad for rival manufacturers, and possibly good for suppliers of parts.   

At the end of the third quarter of 2022, 47 hedge funds in the database of Insider Monkey held stakes worth $1.2 billion in Ford Motor Company (NYSE:F), compared to 46 in the preceding quarter worth $608.8 million. 

In its Q3 2022 investor letter, Leaven Partners, an asset management firm, highlighted a few stocks and Ford Motor Company (NYSE:F) was one of them. Here is what the fund said:

“In our last quarterly letter, I briefly mentioned that the consensus estimates for corporate profits appeared to be a bit too sanguine. I referenced a Reuters article that reported, as of June 17, Wall Street expected S&P 500 earnings to grow by 9.6% in 2022, which was up from 8.8% in April and from 8.4% in January. That tune began to change at the end of July and accelerated in August and September, as major players, such as Ford (NYSE:F), have recently issued profit warnings and/or have withdrawn guidance. In response, Wall Street has altered its outlook: lowering third-quarter profit growth to 4.6% [2] from 7.2% in early August and slashing full-year profit growth to 4.5%.”