In the modern era, governments are becoming more and more concerned about the environment. With every passing year, the electric vehicle industry continues to grow. The expansion of EVs has also led to the emergence of EV charging companies. All this has made people invest in EV stocks to buy.
There is no surprise that EV charging companies are emerging; without a proper charging network, it would be impossible for electric vehicles to reach their full potential. EV charging infrastructure is getting a lot of attention.
Charge points for electric vehicles are expected to increase significantly. Specifically, a 7.5 billion grant was allocated for EV charging networks in the recently passed infrastructure bill by the U.S. Senate.
An EV market research report says that the overall EV market is growing and despite having a global worth of $1656.9 billion, it is still in its infancy. Market analysts project EV sales will grow 33.6% annually from 2020 to $2495.4 billion in 2027.
Top EV stocks to Buy
The EV stock will have an incredible opportunity because of all the above factors. Herefore, there are several exciting EV stocks to buy that have high growth potential in the future.
The Tesla Inc:
The price of Tesla Inc. (TSLA) moved up by $15.76 during the normal trading session on Monday to trade at $875.76. The Tesla Inc. (TSLA) stock has a trading volume of 22.5 million shares, which is low, compared to its average daily volume of 26.37M shares.
Wall Street analysts track the Tesla Inc. (NASDAQ: TSLA) stock on daily basis. Out of 43 analysts, 18 deemed the stock a Buy, and 3 gave it a rating of OVERWEIGHT. Another 12 recommended that TSLA is a HOLD, while 3 rated it UNDERWEIGHT and 7 recommended SELL. If we look at the broader picture, the above ratings give the stock an average analyst rating of 2.60.
NIO Inc. kicked off the trading day on 02/14/22 with a price decrease of -1.29%, equivalent to -$0.31 relative change for the day. Taking a more long-term approach, NIO had a 52-week range of $19.31 to $62.14. At the time of this article’s publishing, this stock is trading at $23.79.
According to WSJ, NIO Inc. (NIO) obtained an estimated Buy proposal from the 27 brokerage firms currently keeping a deep eye on the stock performance as compared to its rivals. 0 equity research analysts rated the shares with a selling strategy, 2 gave a holding approach, 23 gave a purchase tip, 2 gave the firm overweight advice, and 0 put the stock under the underweight category. The average price goal of one year between several banks and credit unions that were last year discussed the stock is $358.27.
XPeng Inc. (XPEV) is priced at $37.01 after the most recent trading session. The stock price reached a high price of $38.03, prior to closing the session it reached the value of $37.01. The stock touched a low price of $36.2935.
Out of a total of 22 brokerages that are currently covering XPeng Inc. (XPEV) stock, the average recommendation is “Buy” according to WSJ. 2 equities research analyst has rated the stock with an “Overweight” recommendation, 18 analysts have given this stock a “Buy” recommendation, 2 analysts have recommended that investors “Hold” this stock, and 0 analysts have given this stock a “Sell” rating and 0 suggested “Underweight”. Analysts’ average 1-year price target, among all the brokerages, is $339.94.