5 Best EV Penny Stocks to Buy

This article presents an overview of 5 Best EV Penny Stocks to Buy. For a detailed overview of such stocks read our article, 11 Best EV Penny Stocks to Buy.

5. Lion Electric Co (NYSE:LEV)

Number of Hedge Fund Investors: 13

Canadian-based EV company Lion Electric Co (NYSE:LEV) is one of the best EV penny stocks to buy according to hedge funds. Of the 933 funds tracked by Insider Monkey, 13 hedge funds had stakes in Lion Electric Co (NYSE:LEV). The most notable stake in Lion Electric Co (NYSE:LEV) is owned by Steve Cohen’s Point72 Asset Management which reported owning 495,600 shares of Lion Electric Co (NYSE:LEV) as of the end of 2023.

4. Solid Power Inc (NASDAQ:SLDP)

Number of Hedge Fund Investors: 14

Solid Power Inc (NASDAQ:SLDP) makes solid state battery technologies for the electric vehicles (EV) and other markets in the US.

Of the 933 hedge funds tracked by Insider Monkey, 14 hedge funds had stakes in Solid Power Inc (NASDAQ:SLDP). The biggest hedge fund stakeholder of Solid Power Inc (NASDAQ:SLDP) is Ken Griffin’s Citadel Investment Group which had a $4.4 million stake in Solid Power Inc (NASDAQ:SLDP).

3. ChargePoint Holdings Inc (NYSE:CHPT)

Number of Hedge Fund Investors: 17

Insider Monkey’s database of 933 hedge funds shows that 17 hedge funds had stakes in ChargePoint Holdings Inc (NYSE:CHPT) as of the end of the fourth quarter of 2023.

2. Nio Inc – ADR (NYSE:NIO)

Number of Hedge Fund Investors: 20

Nio Inc – ADR (NYSE:NIO) shares rose in early April after data for March showed some momentum picking up in the industry. Nio Inc – ADR (NYSE:NIO) recently said it opened a new Smart Driving Technology Center in Schönefeld, Germany, near Berlin.

Insider Monkey’s database shows that Nio Inc – ADR (NYSE:NIO) is one of the most popular EV penny stock among hedge funds, with 20 hedge fund investors.

1. Lucid Group Inc (NASDAQ:LCID)

Number of Hedge Fund Investors: 21

A total of 21 hedge funds in Insider Monkey’s database had stakes in Lucid Group Inc (NASDAQ:LCID) as of the end of 2023.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the 10 Best Consumer Discretionary Dividend Stocks To Buy According to Analysts and the Latest Insider Trading Activity: 11 Stocks Executives and Directors are Buying.