5 Cheap EV Stocks To Buy

In this article, we will be taking a look at 5 cheap EV stocks to buy. To read our detailed analysis of the electric vehicle sector, you can go directly to see the 11 Cheap EV Stocks To Buy.

5. XPeng Inc. (NYSE:XPEV)

Enterprise Value to Revenue Ratio as of March 5: 1.24

Number of Hedge Fund Holders: 17

XPeng Inc. (NYSE:XPEV) is another China-based EV maker. It develops and markets smart EVs such as its SUVs under the G3 and G3i names.

HSBC’s Yuqian Ding placed a Hold rating on XPeng Inc. (NYSE:XPEV) shares as of February 24.

Analysts see an upside potential of 10.40% on XPeng Inc. (NYSE:XPEV) shares. They hold an average price target of $10.62, with a high forecast of $14 on the stock. The stock is thus seen to be trading at a relative discount at present, and has among the lowest EV/Revenue ratios in the electric vehicle sector.

A total of 17 hedge funds were long XPeng Inc. (NYSE:XPEV) in the fourth quarter. Their total stake value was $171.3 million.

4. Ford Motor Company (NYSE:F)

Enterprise Value to Revenue Ratio as of March 5: 0.99

Number of Hedge Fund Holders: 40

Ford Motor Company (NYSE:F) is an automotive manufacturer based in Dearborn, Michigan. The company has been engaged in the EV sector to produce electric vehicles under the Ford brand as well.

Benchmark’s Michael Ward holds a Buy rating on Ford Motor Company (NYSE:F) shares as of February 3. Within this increase, EV sales jumped by 68.1% year-over-year to 3,523 units. The stock is currently among the cheapest EV stocks on the market with positive performance.

There were 40 hedge funds long Ford Motor Company (NYSE:F) in the fourth quarter. Their total stake value was $1.4 billion.

3. General Motors Company (NYSE:GM)

Enterprise Value to Revenue Ratio as of March 5: 0.92

Number of Hedge Fund Holders: 80

General Motors Company (NYSE:GM) is another conventional automaker on our list that has been involved in the production of EVs. The company is based in Detroit, Michigan.

Itay Michaeli at Citigroup holds a Buy rating on General Motors Company (NYSE:GM) shares as of March 9.

Since its commercial launch in June, General Motors Company’s (NYSE:GM) Cruise segment, a robo-taxi fleet, has been scaling up its operations. In 2022, The Cruise segment reported revenues of $102 million, representing a 3.7% growth year-over-year.

Our hedge fund data shows 80 funds long General Motors Company (NYSE:GM) in the fourth quarter, with a total stake value of $3.5 billion.

2. Oshkosh Corporation (NYSE:OSK)

Enterprise Value to Revenue Ratio as of March 5: 0.66

Number of Hedge Fund Holders: 26

Oshkosh Corporation (NYSE:OSK) is a construction machinery and heavy trucks company based in Oshkosh, Wichita. The company offers a range of heavy automotives, including electric mail trucks.

Jamie Cook, an analyst at Credit Suisse, holds an Outperform rating on Oshkosh Corporation (NYSE:OSK) shares as of February 1.

As of March 12, Oshkosh Corporation (NYSE:OSK) was trading at $82.96. In comparison, analysts have placed an average price target of $104 on the stock, with a high forecast of $116.

A total of 26 hedge funds were long Oshkosh Corporation (NYSE:OSK) in the fourth quarter, with a total stake value of $318 million.

Investment management company First Pacific Advisors mentioned Oshkosh Corporation (NYSE:OSK) in its second-quarter 2022 investor letter. Here’s what the firm said:

“Oshkosh Corporation (NYSE:OSK) makes trucks and specialty vehicles in four segments: Access Equipment (aerial work platforms and telehandlers), Defense, Fire and Safety, and Commercial. The company has suffered from component shortages and supply chain issues, but we think it has generally performed well otherwise. We remain positive on the company’s long-term prospects.”

1. Stellantis N.V. (NYSE:STLA)

Enterprise Value to Revenue Ratio as of March 5: 0.17

Number of Hedge Fund Holders: 28

Stellantis N.V. (NYSE:STLA) is an automobile manufacturing company based in Hoofddorp, Netherlands. The company is heavily engaged in the EV sector, with plans to reach global EV sales of 5 million by 2030.

Berenberg’s Adrian Yanoshik holds a Buy rating on Stellantis N.V. (NYSE:STLA) shares as of March 6.

In Europe, Stellantis N.V. (NYSE:STLA) has the second largest market share for battery electric vehicles.

Stellantis N.V. (NYSE:STLA) was found among the 13F holdings of 28 hedge funds at the end of the fourth quarter. Their total stake value was $935 million.

See also 10 Biggest EV Charging Companies in Europe and 12 Best EV Stocks To Invest In.