5 Best EV Battery Stocks Under $10

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1. FREYR Battery (NYSE:FREY)

Share Price as of April 5: $8.23
Number of Hedge Fund Holders: 27

Headquartered in Luxembourg, FREYR Battery (NYSE:FREY) is an EV battery manufacturer that aims to become a leading supplier of clean and sustainable lithium-ion batteries for electric vehicles. FREYR Battery’s key strengths include a focus on sustainability, strategic partnerships with mature technology companies like Siemens and Elkem, and a large-scale battery production capacity. The company expects to have an annual production capacity of up to 43 GWh by 2025.

Additionally, FREYR Battery (NYSE:FREY) boasts advanced battery technologies, including a silicon anode technology that could significantly improve energy density and charging speed. These technologies could help the company to differentiate itself from competitors in the EV battery market and establish a strong competitive position. BofA started covering FREYR Battery (NYSE:FREY) in February 2023 with a ‘Buy’ rating and $13 price target.

At the end of Q4, 27 hedge funds were long FREYR Battery (NYSE:FREY), compared to 22 funds in the prior quarter. Among these hedge funds, Sylebra Capital Management is FREYR Battery (NYSE:FREY)’s most noticeable stakeholder, with 8.27 million shares worth $71.82 million. FREYR Battery (NYSE:FREY) tops the list of 10 best EV battery stocks under $10.

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