5 Most Undervalued EV Stocks To Buy According To Hedge Funds

1. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 80

General Motors Company (NYSE:GM) is among the biggest car companies in the world that have committed to the all-electric future of the mobility segment. General Motors Company (NYSE:GM) already has several electric vehicles available for customers. Recently, it was reported that General Motors Company (NYSE:GM) was cutting about 500 executive-level jobs as it prepares for the electrification transition from legacy cars business.

General Motors Company (NYSE:GM) is taking notable steps to increase its presence in the EV sector. General Motors Company (NYSE:GM) recently became the biggest stakeholder of Lithium Americas (NYSE:LAC) through its investments that will accelerate the development of the Thacker Pass project in Nevada.

In February, it was reported that General Motors Company (NYSE:GM) was mulling buying a stake in Vale’s (NYSE:VALE) base metals unit.

General Motors Company (NYSE:GM) ranks 1st in our list of the most undervalued EV stocks to buy according to hedge funds.

Diamond Hill made the following comment about General Motors Company (NYSE:GM) in its Q3 2022 investor letter:

“Most recently, we initiated a position in General Motors Company (NYSE:GM), one of the largest automakers in the United States. Over the past several years, GM has taken steps necessary to focus the company on the most profitable segments and move into position to compete in an electrified and autonomous world. With the recent rise in interest rates there was a meaningful selloff in the auto industry, which presented us an attractive entry point to a name we know well.”

You can also take a peek at 15 Best Short-Term Stocks to Buy and 10 Best Stocks to Buy for High Returns.