5 Stocks that Doubled in 2021

2. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 55  

Year-To-Date Gain: 113%  

Ford Motor Company (NYSE:F) stock has posted incredible gains this year as the company invests heavily in electric vehicles. New EVs, including the flagship F-150 electric truck, one of the most hyped launches of the year, have renewed interest in the automaker as a serious EV player. The company is also gaining a lot of traction among retail investors on internet forums like Reddit and Robinhood. 

Benchmark analyst Michael Ward recently maintained a Buy rating on Ford Motor Company (NYSE:F) stock and raised the price target to $20 from $18, appreciating the earnings beat of the firm in the third quarter. 

At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $2.10 billion in Ford Motor Company (NYSE:F), up from 49 in the preceding quarter worth $2.19 billion.

In its Q1 2020 investor letter, Greenlight Capital Fund, an asset management firm, highlighted a few stocks and Ford Motor Company (NYSE:F) was one of them. Here is what the fund said:

“General Motors (GM) was a disappointment. The damage from last year’s strike consumed most of the cash flow GM would have otherwise generated in 2019. We had expected a strong bounce back in earnings and cash flow in 2020, but the annual guidance, while meeting Wall Street expectations, was worse than we expected. Further, the cash burned during the strike needed to be re-earned in order to protect GM’s investment grade rating. Pre-crisis, there would have been, at best, a minimal share repurchase late in the year. At the analyst day, our hopes that 2020 would finally be the year were dashed. We sold our stock. Over our five-year holding period, we made a 9.6% IRR on GM. In the difficult environment, its most comparable peer, Ford, lost about half its value.”