5 Best Alternative Energy Stocks to Buy Now

1. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 62
Forward P/E Ratio: 133.03

Elon Musk’s Tesla, Inc. (NASDAQ: TSLA) is a company that manufactures and sells electric vehicles (EVs), and energy generation and storage systems in the US and internationally. The company’s Energy Generation and Storage segment in particular works on solar energy generation and energy storage products. Tesla, Inc. (NASDAQ: TSLA) ranks 1st on our list of the best alternative energy stocks to buy now.

Mizuho recently reiterated its Buy rating for Tesla, Inc. (NASDAQ: TSLA), citing strengths in battery electric vehicle sales trends. The firm points to data that indicates that Tesla remains the market leader in the BEV industry with a 24% market share. The firm has a $820 price target for Tesla.

In the first quarter of 2021, Tesla, Inc. (NASDAQ: TSLA) reported revenues of $10.39 billion and earnings of $438 million. The stock also beat EPS estimates for the quarter by $0.14 with an EPS of $0.93, a rise from the $0.80 EPS of last quarter which missed estimates by $0.23.

In the first quarter of 2021, 62 hedge funds held stakes in the company worth over $10 billion, compared to 68 hedge fund holders in the previous quarter having stakes worth over $12 billion in Tesla, Inc. (NASDAQ: TSLA).

See also 10 Largest Wind Energy Companies In The World and 10 Emerging Energy Technologies You Can Invest In Today.

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