5 Electric Car Stocks to Buy for 2022

4. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 25

Reporting its third quarter results on November 23, XPeng Inc. (NYSE:XPEV) posted a loss per share of $0.28, beating estimates by $0.06. The $894.88 million revenue gained 197.34% from the prior year quarter, outperforming estimates by $75 million. 

XPeng Inc. (NYSE:XPEV) is an electric vehicle manufacturer from Guangzhou, China, and is ranked among the leading Chinese EV companies. Leveraging the internet, artificial intelligence, and advanced driver assisted technologies, XPeng Inc. (NYSE:XPEV) is working on smart EVs. In addition to electric vehicles, the company is offering charging facilities, auto finance, and post sales services. 

Morgan Stanley analyst Tim Hsiao on December 7 named XPeng Inc. (NYSE:XPEV) a “Research Tactical Idea”, expecting the share price to rise in absolute terms over the next 15 days. He stated that the company’s fundamentals “remain solid”, in addition to recent valuation becoming more compelling, and kept an Overweight rating on the shares with an HK$275 price target.

25 hedge funds were bullish on XPeng Inc. (NYSE:XPEV) in the third quarter, up from 19 funds in the preceding quarter. The leading XPeng Inc. (NYSE:XPEV) stakeholder from Q3 is Philippe Laffont’s Coatue Management, holding 9.64 million shares worth $342.73 million.