5 Best Climate Change Stocks To Buy According to Hedge Funds

2. Tesla, Inc. (NASDAQ:TSLA) 

Number of Hedge Fund Holders: 82    

Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company. On March 13, investment advisory Wedbush maintained an Outperform rating on Tesla, Inc. (NASDAQ:TSLA) stock with a price target of $315. 

At the end of the fourth quarter of 2023, 82 hedge funds in the database of Insider Monkey held stakes worth $6.2 billion in Tesla, Inc. (NASDAQ:TSLA), compared to 81 in the previous quarter worth $5.8 billion.

Here is what Fred Alger Management has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q4 2023 investor letter:

“Tesla, Inc. (NASDAQ:TSLA) is an electric vehicle manufacturer with a significant technological lead in its large and rapidly growing addressable market. Tesla is a transportation company that is setting the pace for industry innovation, in our view. During the quarter, the company reported weaker-than-expected fiscal third quarter earnings, where gross margins were negatively impacted by factory downtime and ramping production volumes at new manufacturing plants. However, the company noted that they remain confident by the amount of data that Tesla’s established and growing fleet of vehicles has gathered, which may bode well for the company’s full self-driving capabilities.”