5 EV Charging Stocks to Buy Now

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1.  Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 60

Tesla, Inc. (NASDAQ:TSLA) is Elon Musk’s EV giant based in the US, and among the best EV charging stocks to buy now, based on positive analyst ratings. The company offers EVs and energy generation and storage systems across the world, alongside EV charging stations.

Morgan Stanley’s Adam Jonas holds an Overweight rating on  Tesla, Inc. (NASDAQ:TSLA) shares as of this February. Daiwa’s Jairam Nathan also upgraded the company’s shares to Outperform this February.

The company’s EPS in the fiscal fourth quarter of 2021 was $2.54, while its revenue was $17.72 billion. Both beat estimates by $0.16 and $1.1 billion respectively.  Tesla, Inc. (NASDAQ:TSLA) has also gained 29.2% in the past six months.

Out of 867 hedge funds, 60 hedge funds held stakes in  Tesla, Inc. (NASDAQ:TSLA) in the third quarter of 2021. Their total stake value was $10.6 billion.

Alger, an investment management firm, mentioned  Tesla, Inc. (NASDAQ:TSLA) in its fourth-quarter 2021 investor letter. Here’s what they said:

Tesla is an electric vehicle (EV) manufacturer with a significant technology lead in its large and rapidly growing addressable market. Tesla is a consequential transportation company because it is setting the pace for industry innovation over the foreseeable future. It has potential to maintain its lead as it ramps up auto production and battery capacity. We are optimistic about EV innovation, adoption and Tesla’s growth prospects. The shares contributed to portfolio performance as Tesla successfully increased production of new model S and X units driving a richer revenue mix as the prices of these vehicles are higher and the cost to produce lower than earlier versions. Earnings estimates climbed for Tesla as pricing for vehicles in backlog has increased. Further, as Tesla’s newer, more efficient factories increase production, unit costs may potentially decline relative.”

See also 25 Best Things To Buy On Amazon Under 20 and Aquamarine Capital’s Top 10 Stock Picks.

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