5 Most Undervalued EV Stocks To Buy According To Hedge Funds

3. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 40

Ford Motor Company (NYSE:F) is one of the most famous American automotive brands in the world. It was founded in 1902 by Henry Ford. Despite it being a publicly traded company, it is majorly controlled by the Ford family. Ford Motor Company (NYSE:F) has been actively involved in the production and sale of battery electric vehicles and plug-in hybrid vehicles for over a decade.

On August 18, it was announced that Ford Motor Company (NYSE:F) has partnered with the South Korean battery makers, EcoPro BM and SK On, to invest C$1.2 billion in a battery materials production plant in Canada. The plant production will receive C$644 million in funding from the Canadian government. The plant is expected to start production in 2026.

Insider Monkey data shows that Ford Motor Company (NYSE:F)’s stock was owned by 40 hedge funds in the second quarter of 2023 and Two Sigma Advisors was its most prominent stakeholder. The firm owned over 28.9 million shares of Ford Motor Company (NYSE:F), valued at $437.378 million.

Here is what Leaven Partners has to say about Ford Motor Company (NYSE:F) in its Q3 2022 investor letter:

“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in August and September, as major players, such as Ford (NYSE:F), has recently issued profit warnings and/or have withdrawn guidance.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%.”