5 Undervalued Cyclical Stocks for 2021

4. Fisker Inc. (NYSE: FSR)

Number of Hedge Fund Holders: 18

Fisker Inc. (NYSE: FSR) is a Manhattan Beach-based company that makes electric vehicles.The firm is aiming to set itself apart from the competition by producing vehicles that go more miles on a single charge, a car it has said it is presently working on, as well as EVs made from sustainable products like recyclables. Fisker Ocean, one of the products marketed by the firm, is expected to begin production in 2022. Fisker was founded in 2016 and is ranked fourth on our list of 12 undervalued cyclical stocks for 2021.. 

Fisker Inc. (NYSE: FSR) was rated Overweight by investment bank Morgan Stanley last week after the bank forecast a strong quarter for electric vehicle makers as the economy reopened in China and the United States, increasing the demand for EVs that had fallen during the pandemic in 2020. 

At the end of the fourth quarter of 2020, 18 hedge funds in the database of Insider Monkey held stakes worth $146 million in the firm, up from 17 in the preceding quarter worth $132 million.