5 Best Alternative Fuel Stocks To Buy Right Now

1. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 63

Enphase Energy, Inc. (NASDAQ:ENPH) is an American clean energy company that manufactures photovoltaic inverters, battery energy storage solutions, and electric vehicle supply equipment. It is one of the largest exporters of photovoltaic inverters in the world. Moreover, Enphase Energy, Inc. (NASDAQ:ENPH)’s EV charger market is growing at a CAGR of 40% in the US.

In Q4 2022, Enphase Energy, Inc. (NASDAQ:ENPH) stock was held by 63 hedge funds, compared to 59 in the previous quarter. Two Sigma Advisors owned over 1.3 million of the company’s shares worth $354.44 million, making it the most significant stakeholder of the company in Q4 2022.

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the most promising solar stocks according to analysts. In the last three months, 21 Wall Street analysts covered the company stock with 16 of them keeping a Buy or Overweight rating on Enphase Energy, Inc. (NASDAQ:ENPH). The rest of the five analysts have a Hold rating on the company stock.

Here is what ClearBridge Investments had to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2022 investor letter:

“In IT, Enphase Energy, Inc. (NASDAQ:ENPH) delivered a strong quarter driven by secular growth in global rooftop solar, increased penetration into Europe, where demand accelerated, and a continued ramp up in battery storage sales. Also with a strong presence in the U.S., Enphase Energy designs and manufactures microinverters for residential and small commercial solar PV systems and has made strides in evolving from a solar inverter maker into a “home energy management” company that can act as the brains for the home’s energy system, including microinverters for solar, as well as storage and energy management software.”

You can also take a look at the 11 Most Undervalued EV Stocks To Buy According To Hedge Funds and the 15 Most Promising Long-Term Stocks According to Analysts.