7 Best EV Stocks Under $50

2. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 41

Share Price as of August 7: $9.77

Ford Motor Company (NYSE:F) is one of the biggest names in the automotive industry in the world. The company manufactures and sells a range of commercial and luxury vehicles under the brand names Ford and Lincoln, respectively. While Ford (NYSE:F) is mostly known for its gas-guzzling muscle cars and trucks, the company is also making significant strides in the EV industry.

The company’s CEO, Jim Farley announced plans to introduce a $30,000 all-electric vehicle in about two and a half years, emphasizing that profitability is a key focus. During the Aspen Ideas Festival held around the last week of June, Farley revealed that this vehicle, developed by a specialized Ford team, is intended to compete with Chinese automakers like BYD and an upcoming entry-level Tesla (NASDAQ:TSLA) model.

Ford (NYSE:F) is prioritizing smaller, more affordable EVs over larger all-electric trucks and SUVs, as Farley believes the latter is unlikely to be profitable due to the high costs of large battery packs. He highlighted the need for a shift in focus to smaller vehicles for both economic and environmental reasons, despite the historical profitability of larger vehicles like the company’s trucks.

Apart from that, Ford (NYSE:F) is also a shareholder-friendly company as it was mentioned in our best dividend-paying stocks under $15 article. We mentioned the company’s strong cash and liquidity position which allows the company’s long-term growth and returns to shareholders. The company has consistently issued supplemental dividends to shareholders over the years, alongside its regular common dividend. As of August 7, the company has a dividend yield of 6.1% with a payout ratio of a little over 31%.

In Q1, 41 hedge funds had stakes in Ford (NYSE:F), amounting to $1.54 billion. The most prominent stake is held by Ken Fisher’s Fisher Asset Management with 62.52 million shares worth $830.301 million.