10 Best Green Stocks To Buy According to Short Sellers

6. Constellation Energy (NASDAQ:CEG)  

Short Interest as % of Shares Outstanding: 1.65%  

Number of Hedge Fund Investors in Q2 2024: 71  

Constellation Energy (NASDAQ:CEG) is a provider of natural gas, energy products, and related services across North America. The company is renowned for its role in nuclear energy and generates 10% of the United States’ carbon-free electricity.

In Q1, Constellation Energy (NASDAQ:CEG) issued a $900 million, 30-year corporate green bond aimed at funding upgrades to its nuclear plants, clean hydrogen production, and energy storage systems. The company has secured long-term sustainable energy contracts with major tech firms, including Microsoft and Google which ensure a stable revenue stream. Additionally, Constellation Energy (NASDAQ:CEG) is investing $800 million to enhance equipment at its Byron and Braidwood nuclear plants in Illinois, which will increase their energy output by 158 megawatts. Another $350 million is being allocated to upgrade the Criterion wind project in Maryland, which will add 79,000 megawatt-hours (MWh) of green energy capacity.

At 1.65%, Constellation Energy’s (NASDAQ:CEG) short interest is negligible, the company is projected to grow its earnings by 45.84% this year. Analysts have a consensus Buy rating on the stock, with an average price target of $225.03, indicating a 16% potential upside from current levels. As of the second quarter, Constellation Energy’s stock is held by 71 hedge funds, with a total investment of $3.78 billion. Coatue Management is the largest shareholder, holding stocks valued at $982.90 million as of June 30.