5 Most Promising EV Battery Stocks According to Analysts

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1. Enovix Corporation (NASDAQ:ENVX)

Number of Hedge Fund Holders: 30

Average Upside Potential as of February 10: 149.58%

Enovix Corporation (NASDAQ:ENVX) tops our list of the most promising EV battery stocks to buy now according to analysts. The company is a pioneer in silicon-anode lithium-ion batteries. The company’s cutting-edge batteries boast a higher energy density and cycle life and with the rising adoption of EVs, Enovix Corporation (NASDAQ:ENVX) is well-positioned to capitalize on the secular trends that lead the EV battery space.

This January, Canaccord analyst George Gianarikas took coverage of Enovix Corporation (NASDAQ:ENVX) with a Buy rating and a $20 price target. Enovix Corporation (NASDAQ:ENVX) has a consensus Strong Buy rating among Wall Street analysts. The stock has received 8 Buy ratings from analysts over the past 3 months and has an average price target of $20.64, which implies an upside of 149.58% from its closing price on February 10.

At the end of Q3 2022, 30 hedge funds held stakes in Enovix Corporation (NASDAQ:ENVX). The total value of these stakes amounted to $486.6 million. As of December 31, Rima Senvest Management is the top shareholder in the company and has a position worth $5.02 million.

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