5 Most Promising EV Battery Stocks According to Analysts

3. Solid Power, Inc. (NASDAQ:SLDP)

Number of Hedge Fund Holders: 15

Average Upside Potential as of February 10: 96.37%

Solid Power, Inc. (NASDAQ:SLDP) is a leading manufacturer of all-solid-state battery cells and solid electrolyte materials. The company distributes its products worldwide and is one of the most promising EV battery stocks to buy now according to analysts. Over the past 3 months, the stock has received 1 Buy rating and 3 Hold ratings from Wall Street analysts. The stock has an average price target of $6.50 which represents an upside of 96.37% from its closing price on February 10.

As of December 14, Citi analyst P.J. Juvekar has a Neutral rating and a $3 price target on Solid Power, Inc. (NASDAQ:SLDP). Juvekar noted that the wide-spread adoption of solid-state batteries by 2026 could be hindered by delays or technological risks associated with the new technology. However, the analyst sees the Inflation Reduction Act fueling the adoption of EVs in the U.S., prompting automakers to take advantage of new advancements such as solid-state batteries.

At the end of the third quarter of 2022, 15 hedge funds were eager on Solid Power, Inc. (NASDAQ:SLDP) and held positions worth $16.6 million in the company.