5 Hot EV Stocks To Buy Now

4. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 20

Avg Volume: 32.4M

YTD Perf: +7.04%

XPeng Inc. (NYSEL:XPEV) designs, develops, manufactures, and markets smart electric vehicles in the People’s Republic of China. On January 16, XPeng announced plans to open four delivery and service centers in H1 2023 in Norway, the Netherlands, Sweden, and Denmark. These locations are being established to facilitate the delivery of the company’s latest electric vehicles in key European markets.

On December 13, 2022, HSBC analyst Yuqian Ding maintained a Buy rating on XPeng Inc. (NYSE:XPEV) stock and lowered the price target to $15 from $34, highlighting that tough competitive environment in the mass market pricing range and short-term volume reduction is completely priced into the shares.

Among the hedge funds being tracked by Insider Monkey, New York-based firm Renaissance Technologies is a leading shareholder in XPeng Inc. (NYSEL:XPEV) with 6.3 million shares worth more than $75.5 million.