5 Best EV Battery Stocks to Buy in Late 2022

In this article, we discuss the 5 best EV battery stocks to buy in late 2022. If you want to see more stocks in this selection, check out the 10 Best EV Battery Stocks to Buy in Late 2022.

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

Number of Hedge Fund Holders: 12

Microvast Holdings, Inc. (NASDAQ:MVST) is a Stafford, Texas-based battery manufacturer founded in 2006. The company became public in 2021 following a merger with a special purpose acquisition company (SPAC). The batteries manufactured by Microvast Holdings, Inc. (NASDAQ:MVST) are installed in over 30,000 vehicles that are operating in 160 cities globally as of 2022.

On August 18, Colin Rusch at  Oppenheimer commenced coverage on Microvast Holdings, Inc. (NASDAQ:MVST) stock with an Outperform rating and a target price of $8. The target price reflects a potential upside of over 312% from the closing price as of October 7. In Q2 2022, Microvast Holdings, Inc. (NASDAQ:MVST) observed a YoY revenue growth of 93%. The company also reiterated its FY22 guidance for a 35% – 45% YoY revenue increase.

Rusch believes that Microvast Holdings, Inc. (NASDAQ:MVST) is innovating to improve the performance of its batteries and lower the use of raw materials. This is integral because the mass adoption of batteries is hindered by the limited supply of raw materials. Microvast Holdings, Inc. (NASDAQ:MVST) is also receiving support from the concerned offices in the US Department of Energy for these technological advancements.