5 Best EV Stocks Under $5

4. Kandi Technologies Group, Inc. (NASDAQ:KNDI)

Stock Price as of August 3: $2.520

Number of Hedge Fund Holders: 11

Kandi Technologies Group, Inc. (NASDAQ:KNDI) is a Chinese battery and EV manufacturer.

The company received approval for its K22 and EX3 EV from the National Highway Traffic Administration in 2019 and shipped 50 to 100 EVs to the U.S in the same year. Kandi Technologies Group, Inc. (NASDAQ:KNDI) is considered an attractive play on the EV market because it manufactures and distributes a wide range of parts and specialty vehicles, the most prominent being its self-balancing scooters.

Unlike some Chinese companies that are considering listing on the Hong Kong Stock Exchange for fears of being delisted from the U.S stock markets, Kandi Technologies Group, Inc. (NASDAQ:KNDI) plans to fulfill the listing requirements of the U.S markets and remain listed. The stock has been trading on the U.S market for over a decade.

The number of hedge funds holding a stake in Kandi Technologies Group, Inc. (NASDAQ:KNDI) increased from 9 in the fourth quarter of 2021 to 11 in Q1 2022.