5 Most Undervalued EV Stocks To Buy According To Analysts

In this piece, we will take a look at the five most undervalued EV stocks to buy according to analysts. If you want to learn more about the recent trends in the EV industry, then read 13 Most Undervalued EV Stocks To Buy According To Analysts.

5. Niu Technologies (NASDAQ:NIU)

Number of Q4 2023 Hedge Fund Shareholders: 6

Average Share Price Upside: 164%

Average Share Price Target: $4.73

Niu Technologies (NASDAQ:NIU) is the third scooter company on our list of the most undervalued EV stocks. The struggling Chinese economy hasn’t boded well for the firm as it has missed analyst EPS estimates in three out of its four latest quarters.

As of Q4 2023 end, six out of the 933 hedge funds profiled by Insider Monkey had invested in the firm. Niu Technologies (NASDAQ:NIU)’s biggest investor among these is Douglas Harold Hart Polunin’s Polunin Capital due to its $2.4 million stake.

4. GreenPower Motor Company Inc. (NASDAQ:GP)

Number of Q4 2023 Hedge Fund Shareholders: 2

Average Share Price Upside: 200%

Average Share Price Target: $6.33

GreenPower Motor Company Inc. (NASDAQ:GP) is a Canadian firm that makes and sells shuttles, trucks, and associated vehicles. It is currently in the early phases of entering stability, as while loss per share widened sequentially in Q4, the recent months have seen successful capital raises and product deliveries.

By the end of December 2023, two out of the 933 hedge funds covered by Insider Monkey’s research were GreenPower Motor Company Inc. (NASDAQ:GP)’s shareholders.

3. Electrameccanica Vehicles Corp. (NASDAQ:SOLO)

Number of Q4 2023 Hedge Fund Shareholders: N/A

Average Share Price Upside: 280%

Average Share Price Target: $0.95

Electrameccanica Vehicles Corp. (NASDAQ:SOLO) is a small Canadian electric vehicle company based out of Burnaby, British Colombia. It sells a single seat vehicle, and only Stifel and Roth MKM cover the shares, and both have rated them as Neutral. Stifel’s last coverage was a year back which cut the rating to Hold from Buy.

Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s largest hedge fund shareholder in our database is Israel Englander’s Millennium Management due to its $14,100 investment.

2. Fisker Inc. (NYSE:FSR)

Number of Q4 2023 Hedge Fund Shareholders: 12

Average Share Price Upside: 534%

Average Share Price Target: $2.45

Fisker Inc. (NYSE:FSR) is an American company with several car models in development. Its shares underwent a bloodbath at the tail end of February after the fourth quarter results saw Fisker Inc. (NYSE:FSR) share that its ability to remain a going concern was in question.

As of December 2023 end, 12 out of the 933 hedge funds part of Insider Monkey’s survey had invested in Fisker Inc. (NYSE:FSR).

1. Canoo Inc. (NASDAQ:GOEV)

Number of Q4 2023 Hedge Fund Shareholders: 7

Average Share Price Upside: 1,715%

Average Share Price Target: $1.88

Canoo Inc. (NASDAQ:GOEV) is an American electric vehicle company making vans and other large vehicles. It’s one of the few EV stocks to have a close partnership with NASA, and on this front, a former NASA official joined its board in February.

Seven out of the 933 hedge funds part of Insider Monkey’s Q4 2023 database had bought and owned the firm’s shares. D. E. Shaw’s D E Shaw owned the biggest stake in Canoo Inc. (NASDAQ:GOEV) which was worth $233 million.

Disclosure: None. You can also take a look at 11 Best Small Cap Pharma Stocks to Invest In and Warren Buffett’s 35 Best Quotes About Business, Investing, and Life.

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