11 Hot EV Stocks to Buy Now

9. ADS-TEC Energy PLC (NASDAQ:ADSE)

Year-to-date Share Price Returns: 86.62%

Number of Hedge Fund Holders: 5

ADS-TEC Energy PLC (NASDAQ:ADSE) focuses on decentralized energy platforms integrated with battery storage systems. Its main goal is to help make renewable energy like wind and solar more reliable by managing power fluctuations. The company creates systems that allow for faster EV charging and other energy management solutions. It ranks 9th among our hot EV stocks to buy now.

One of the most significant products of the company in the EV charging infrastructure is its ChargeBox, which helps lower peak power demand by about 65% compared to direct-to-grid charging systems. Direct-to-grid fast chargers require high power for short durations, triggering significant demand charges.

However, the ChargeBox reduces peak power demand while delivering fast charging (up to 320 kW), which results in savings on operational costs. According to ADS-TEC’s (NASDAQ:ADSE) website, the company has delivered over 2500 charge points.

On September 12, the company reported strong financial growth for the first half of 2024, with revenues reaching €79.3 million, a 107% increase from the same period in 2023. The company also achieved a gross margin of 19.8%, significantly improving from last year’s negative margin. Its operating expenses grew slightly, but the company reduced its operating losses and recorded a positive adjusted EBITDA of €3.6 million, which is its third profitable quarter.

In addition, ADS-TEC (NASDAQ:ADSE) reported a nearly 300% paying customer base increase compared to the same period last year. Finally, the company had cash and cash equivalents of €23 million, as of June 30.

In Q2, ADS-TEC Energy’s (NASDAQ:ADSE) shares were held by 5 hedge funds in the second quarter, with positions worth $2.527 million, according to our database.