5 EV Stocks Popular on Reddit

3. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 19    

XPeng Inc. (NYSE:XPEV) makes and sells smart electric vehicles. The company has recently announced that it will be launching a new smart EV model at the 19th Guangzhou International Automobile Exhibition. According to reports, the new model will be a new version of the G3 SUV the company already markets. The firm is one of the largest EV makers in China and reported a 233% year-on-year growth in EV deliveries in October.

Citi analyst Jeff Chung recently reiterated a Buy rating on XPeng Inc. (NYSE:XPEV) stock and raised the price target to $87 from $53.4, noting that EV makers were set to gain market share in the coming years. 

At the end of the second quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $784 million in XPeng Inc. (NYSE:XPEV), the same as in the preceding quarter worth $976 million.