12 Most Promising EV Battery Stocks According to Wall Street Analysts

8. Microvast Holdings, Inc. (NASDAQ:MVST)

Analysts’ Upside Potential as of April 29: 48.15%

Microvast Holdings, Inc. (NASDAQ:MVST) is a technological innovator that creates, develops, and manufactures lithium-ion battery solutions. The firm is well-known for its modern cell technology and vertical integration capabilities, which range from core battery chemistry to battery packs.

Microvast Holdings, Inc. (NASDAQ:MVST) announced record revenue of $380 million in 2023, up 24% from the previous year. Revenue for the fourth quarter also hit a record of $113.4 million. The business attained a fourth-quarter gross margin of 36.6% and significantly raised its overall gross margin to 31.5% from 18.7% the year before. Great demand in Italy, Germany, and other Western European countries drove a 123% spike in revenue in the EMEA area. Furthermore, the firm showed successful strategy execution in Q4 with a positive adjusted EBITDA of $8.6 million. The business also made strides in the development of silicon-based cell technology and all-solid-state battery technology.

The company anticipates 18% to 25% sales growth in 2025, with a target range of $450 million to $475 million and a maintained gross margin goal of 30%. According to Wall Street analysts, it is one of the Most Promising Stocks with an average upside potential of 48.15%.