Climate Activist Hedge Fund Engine No. 1 Is Buying These 5 Energy Stocks

3. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 60    

Tesla, Inc. (NASDAQ: TSLA) is a California-based EV maker with significant interests in the clean energy business. It is ranked third on our list of 10 energy stocks climate activist hedge fund Engine No. 1 is buying. Regulatory filings reveal that Engine No. 1 owned 2,455 shares in the company at the end of the second quarter of 2021 worth $1.6 million, representing 0.45% of the portfolio. 

On August 20, investment advisory Wedbush maintained an Outperform rating on Tesla, Inc. (NASDAQ: TSLA) stock with a price target of $1,000, noting that the new Tesla Bot announced by the firm was an “absolute head scratcher” amid rising EV competition.

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc. (NASDAQ: TSLA), down from 62 in the previous quarter worth $10 billion.

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ: TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”