5 Most Promising EV Battery Stocks According to Analysts

2. FREYR Battery (NYSE:FREY)

Number of Hedge Fund Holders: 22

Average Upside Potential as of February 10: 104.18%

FREYR Battery (NYSE:FREY) is a leading European battery manufacturing company that is involved in the production and distribution of battery cells that can be used in stationary energy storage, electric vehicles, and marine applications around the world. This February, BofA analyst Julien Dumoulin-Smith started coverage of FREYR Battery (NYSE:FREY) with a Buy rating and a $13 price target. The analyst sees a “compelling” risk/reward for the stock. FREYR Battery (NYSE:FREY) is among analysts’ most promising EV battery stocks to buy now.

FREYR Battery (NYSE:FREY) has received 5 Buy ratings and 1 Hold rating from Wall Street analysts over the past 3 months. The stock has a consensus Strong Buy rating and an average price target of $17.60, which represents an upside of 104.18% from current levels.

At the close of Q3 2022, 22 hedge funds were long FREYR Battery (NYSE:FREY) and disclosed positions worth $381.2 million in the company. As of December 31, Prescott Group Capital Management is the top investor in the company and has a stake worth $1.82 million.

Follow Freyr Battery