5 Best EV Stocks Under $5

3. Workhorse Group Inc. (NASDAQ:WKHS)

Stock Price as of August 3: $4.060

Number of Hedge Fund Holders: 11

Workhorse Group Inc. (NASDAQ:WKHS) is a Sharonville, Ohio-based manufacturer of commercial-grade, high-performance, medium-duty last-mile electric delivery vans that have a range of around 100 miles.

Workhorse Group Inc. (NASDAQ:WKHS) has developed a cloud-based and real-time fleet monitoring system. The company claims that its vehicles have covered 8.5 million miles on the road. Furthermore, Workhorse Group Inc. (NASDAQ:WKHS) has revealed initial purchase orders for the W750 and is targeting record production during the second-half of the year. Workhorse Group Inc. (NASDAQ:WKHS) also has additional top-line potential through its Aviation business. The company has overcome concerns related to its C1000 electric van and has sold 250 vehicles this year to generate revenue of $25 million.

At the end of Q1 2022, 11 funds held a stake in Workhorse Group Inc. (NASDAQ:WKHS).