EV Penny Stocks List: From $10 to Under $1

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5. Indie Semiconductor Inc. (NASDAQ:INDI)

Number of Hedge Fund Holders: 22

Share Price as of April 16 2025: $1.91

Indie Semiconductor Inc. (NASDAQ:INDI) is a semiconductor equipment & materials company that specializes in providing automotive semiconductor and software solutions for advanced driver systems in electric and self-driving vehicles. The company is increasingly empowering the automotive revolution with next-generation semiconductors, photonics, and software platforms. On April 9, Benchmark analyst Cody Acree reiterated a Buy rating and $8.00 price target on the stock following reports that Chief Financial Officer Raja BAL had stepped down.

While Indie Semiconductor Inc. (NASDAQ:INDI) has yet to generate a profit, it has consistently delivered robust revenue growth. Over the last five years, it has grown its revenue by 48%, well above pre-profit companies. The robust revenue growth stems from the company catering to the markets for advanced driver assistance systems, driver automation, and other electrification applications.

The fact that Indie Semiconductor Inc. (NASDAQ:INDI) offers ultrasonic sensors for parking assistance and radar sensors for audio assistance, positioning it for tremendous growth in the self-driving and electric vehicle space. Its iND880 Vision Processor has already been chosen by a Korean OEM for front sensing and occupant monitoring in new EVs, affirming the emerging opportunities for growth.

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