10 Best EV Penny Stocks to Buy

9. Marti Technologies Inc. (NYSE:MRT)

Marti Technologies Inc. (NYSE:MRT) is one of the 10 best EV penny stocks to buy.

On April 14, Cantor Fitzgerald reiterated its Neutral Rating for Marti Technologies Inc. (NYSE:MRT). The firm reduced the target price on the stock to $2.15 from $3. The firm highlighted that the company is still navigating the very early stages of its broader strategic pivot towards the competitive ride-hailing sector. The downward adjustment in price target reflects the current operational standing.

On April 14, Roth Capital reaffirmed its Buy rating for Marti Technologies Inc. (NYSE:MRT). The firm cut the target price from $5 to $4, which still implies an adjusted upside potential of more than 89% from the current level. This downward revision is driven by a high outstanding share count.

However, the firm noted that the fundamental operational momentum remains strong. The company has revised its first-half projections for active riders and drivers upward, following a significant beat of its initial 2025 guidance. It has also maintained its revenue and EBITDA projections for the full 2026 fiscal year.

The underlying business is rapidly expanding outside of its primary Istanbul ride-hailing market. It is exhibiting encouraging traction with delivery services and is also witnessing greater commercial monetization across new cities. Such strength in fundamentals makes Marti Technologies Inc. (NYSE:MRT) one of the standout names within the EV space.

Marti Technologies Inc. (NYSE:MRT) offers tech-based urban transportation solutions for riders in Turkey. It has a mobile application through which riders can avail ride-hailing and delivery services. The company also has a large fleet of e-scooters, e-mopeds, and e-bikes for rentals.