5 Best Climate Change Stocks To Buy According To Hedge Funds

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

Number of Hedge Fund Holders: 53

Enphase Energy, Inc. (NASDAQ:ENPH) is a Fremont, California-based company that provides residential and commercial solar and storage solutions.

Enphase Energy, Inc. (NASDAQ:ENPH) stock price has rallied by over 57% in the last three months. In contrast, the S&P 500 and the tech-heavy NASDAQ Composite Index have only observed a rise of around 1% during the same period. The company is acquiring numerous companies in the US to expand its footprint for its integrated services. Enphase Energy, Inc. (NASDAQ:ENPH) reported stellar Q2 2022 results as it reported three key performance indicators (KPIs) that were above expectations. Enphase Energy, Inc.’s (NASDAQ:ENPH) solid fundamentals make it one of the best climate change stocks to buy, according to hedge funds.

Here’s what ClearBridge Investments said about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q1 2022 investor letter:

“Enphase Energy (NASDAQ:ENPH) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation, and supply chain challenges as their long-term value was reaffirmed.”