Should You Now Sell Your EnerSys (ENS) Before its Too Late?

Harding Loevner, an investment management firm, published its “Global Small Companies Equity Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 1.94% was recorded by the fund for the third quarter of 2021, beating its Benchmark, the MSCI All Country World Small Cap Index, which returned -1.42 % for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Harding Loevner Global Small Companies Equity Fund, in its Q3 2021 investor letter, mentioned EnerSys (NYSE: ENS) and discussed its stance on the firm. EnerSys is a Reading, Pennsylvania–based energy storage company with a $3.1 billion market capitalization. ENS delivered a -10.58% return since the beginning of the year, while its 12-month returns are down by -11.31%. The stock closed at $74.27 per share on December 03, 2021.

Here is what Harding Loevner Global Small Companies Equity Fund has to say about EnerSys  in its Q3 2021 investor letter:

“EnerSys, a leader in the global industrial battery and stored energy solutions market, was the largest detractor in Industrials as increased investments in growth opportunities pressured its margins. One of its projects is a next-generation lithium battery that is compact and lightweight enough to be used as the backup power source for small-gauge cellular equipment, the kind that is vital to fifth-generation (5G) rollouts. Another project is an electric vehicle (EV) charging initiative, where the company is applying its industry-leading forklift charging technology to fast-charging infrastructure for commercial and residential buildings.”

Photo by Kumpan Electric on Unsplash

Based on our calculations, EnerSys (NYSE: ENS) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. ENS was in 24 hedge fund portfolios at the end of the third quarter of 2021, compared to 19 funds in the previous quarter. EnerSys (NYSE: ENS) delivered a -12.01% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.