5 Best EV Stocks to Invest In

1. General Motors Company (NYSE: GM)

Number of  Hedge Fund Holders: 86

General Motors Company (NYSE: GM) is a manufacturer of vehicles operating globally and is now also involved in the EV industry. Some of the company’s major brands include Buick, Cadillac, and Chevrolet. It ranks 1st on our list of the best EV stocks to invest in.

On June 16th, it was reported that General Motors Company (NYSE: GM) will be increasing its EV and autonomous vehicle investments to $35 billion by 2025. The move came in light of the company’s profitability for this year so far having exceeded expectations, and because General Motors Company (NYSE: GM) wants to be a leader in the transformation of the industry. For the first quarter of 2021, General Motors Company (NYSE: GM) had an EPS of $2.25 versus estimates of $1.05. The company’s revenue for the quarter was valued at $32.47 billion and it has a forward PE ratio of 9.77. It has also gained 42.59% in the past 6 months and 45.05% year to date.

By the end of the first quarter of 2021, 86 hedge funds out of the 866 tracked by Insider Monkey held stakes in this company. The total value of their stakes was about $8.05 billion. Comparatively, in the previous quarter 70 hedge funds held stakes in the company worth roughly $6.33 billion.

You can also take a peek at 15 Biggest Renewable Energy Companies and Stocks and 12 Best Autonomous Vehicle Stocks to Buy for 2021.

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