3 Cheap Solid State Battery Stocks to Buy

1. General Motors Company (NYSE:GM)

P/E ratio as of July 25: 5.85

Number of Hedge Fund Investors: 73

General Motors, formally the General Motors Company (NYSE:GM), is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. Earlier this February, the company’s Shanghai-based science lab stated that it has developed a “game-changing” high-power bipolar solid-state battery. According to the China unit, the battery can be used in 12-volt start/stop, 48-volt mild hybrid and battery-assisted systems to store energy, thus “creating greater commercial synergy with Li-ion batteries for pure electric vehicles”.

On May 1, Morgan Stanley analyst Adam Jonas upgraded General Motors Company (NYSE:GM) from an Equal Weight rating to an Overweight rating. He also raised the stock’s price target from $35 to $38. Acknowledging General Motors Company (NYSE: GM) as one of the frontrunners in the auto sector, Jonas included it in his list of the “top 5” automotive companies.

According to Insider Monkey’s Q1 2023 database, 73 hedge funds disclosed long positions in General Motors Company (NYSE:GM), worth roughly $4 billion. Of these, investment firm Harris Associates holds a significant position as a shareholder.

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