Top 5 EV Penny Stocks Under $1

In this article, we will take a look at the EV penny stocks list from $10 to under $1. To see more such companies, go directly to EV Penny Stocks List: From $10 to Under $1.

5. Canoo Inc. (NASDAQ:GOEV)

Price Per Share: $0.42

California-based EV company Canoo Inc. (NASDAQ:GOEV) is having a tough year. Canoo Inc. (NASDAQ:GOEV) has lost about 66% year to date through June 28. A total of 9 hedge funds had stakes in Canoo Inc. (NASDAQ:GOEV) as of the end of the first quarter of 2023.

4. Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)

Price Per Share: $0.273

California-based EV company Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) recently received $90 million in funding commitment from its existing investors. Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) jumped about 5% after the news.

3. Xos, Inc. (NASDAQ:XOS)

Price Per Share: $0.25

California-based Xos, Inc. (NASDAQ:XOS) sells battery electric commercial vehicles. In May the company posted first quarter results. GAAP EPS in the first quarter came in at -$0.14, missing estimates by $0.02. Revenue in the quarter fell about 32.9% year over year to $4.7 million, missing estimates by $4.33 million.

A total of 7 hedge funds tracked by Insider Monkey had stakes in Xos, Inc. (NASDAQ:XOS).

2. Mullen Automotive, Inc. (NASDAQ:MULN)

Price Per Share: $0.14

California-based EV company Mullen Automotive, Inc. (NASDAQ:MULN) ranks 2nd in our list of the EV penny stocks. Mullen Automotive, Inc. (NASDAQ:MULN) recently announced that it has sufficient funds for at least the next 12 months.

Mullen Automotive, Inc. (NASDAQ:MULN) also claimed that it’s trading at a discount to its current cash position of $135 million.

As of the end of the first quarter of 2023, 4 hedge funds tracked by Insider Monkey had stakes in Mullen Automotive, Inc. (NASDAQ:MULN).

1. Ideanomics, Inc. (NASDAQ:IDEX)

Price Per Share: $0.087

Ideanomics, Inc. (NASDAQ:IDEX) makes zero-emissions mobility solutions and also offers high-power inductive charging solutions for medium and heavy-duty EVs. In March Ideanomics, Inc. (NASDAQ:IDEX) posted its full-year results. GAAP EPS in the fiscal year came in at -$0.51, while revenue in the period fell 11.5% year over year to $100.94 million.

You can also take a peek at 12 Best 5G Stocks To Buy Now and 10 Best Fast Growth Stocks To Buy.