5 Most Popular EV Stocks Among Famous Hedge Funds

3. NIO Inc. (NYSE:NIO)

Number of Hedge Fund Holders: 30

Of the 30 hedge funds that were bullish on NIO Inc. (NYSE:NIO) in the third quarter, Simon Sadler’s Segantii Capital is one of the leading stakeholders of the company, increasing its stake in NIO Inc. (NYSE:NIO) by 70%, holding 3.57 million shares worth $127.2 million. 

NIO Inc. (NYSE:NIO) is a multinational automaker from Shanghai, China, specializing in electric vehicles. In addition to that, NIO Inc. (NYSE:NIO) also offers smart batteries and mobility cloud technology that can detect the needs of users to provide an elevated automobile experience. 

On November 9, NIO Inc. (NYSE:NIO) posted its Q3 results, reporting an EPS of -$0.06, missing estimates by -$0.01. The revenue jumped 122.23% on a year-over-year basis to $1.53 billion, outperforming estimates by $62.90 million. 

Tiger Securities analyst Bo Pei initiated coverage of NIO Inc. (NYSE:NIO) on December 8 with a Buy rating and a $45 price target. The analyst stated that NIO Inc. (NYSE:NIO) is well positioned to benefit from the global EV trend in the coming decade and “become a major player in the field”.