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InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Ganfeng Lithium, the world's biggest lithium company by market capitalisation, said on Thursday its subsidiary would invest a total 8.4 billion yuan ($1.3 billion) in two projects that will make "new-type" lithium batteries.

Investors in Tesla Inc (Symbol: TSLA) saw new options begin trading today, for the September 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the TSLA options chain for the new September 24th contracts and identified one put and one cal

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

German automaker Volkswagen AG delivered 5,800 ID. series electric vehicles (EVs) in China, the world's largest car market, in July, up from almost 3,000 the month before, it said on Thursday.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Ganfeng Lithium, the world's biggest lithium company by market capitalisation, said on Thursday its subsidiary would invest a total 8.4 billion yuan ($1.3 billion) in two projects that will make "new-type" lithium batteries.

Electric Vehicles' (EV) popularity among consumers and investors suggests that the EV revolution is finally here, after years of wait and hype. Their growing sales, positive impact on the environment (reduction of carbon emission), favorable policies (government grants and subsidies to promote EV), and growing infrastructure (increase in public charging stations) indicate that electric vehicles are not far from becoming mainstream.   

So using the TipRanks stock comparison tool, let’s compare five electric vehicles stocks and see how Wall Street analysts feel about these stocks.

Tesla (TSLA)

Let’s begin with Tesla, which is synonymous with EV. Elon Musk’s Tesla holds the lion’s share of the market, despite the growing number of competitors. The EV pioneer continues to deliver robust financial numbers (read more: Tesla Is Firing on All Cylinders; Analyst Says ‘Buy’), backed by stellar demand, higher production and deliveries, and efforts to reduce costs. 

Thanks to its back-to-back strong quarterly performances and solid demand, Piper Sandler analyst Alexander Potter reiterated a Buy rating on Tesla stock with a price target of $1,200 (68.8% upside potential). 

In addition to Potter, most of the analysts have a bullish view of TSLA stock. Tesla’s Moderate Buy consensus rating is based on 12 Buys, 7 Holds, and 4 Sells. TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Tesla is currently Positive, with hedge fund managers increasing their holdings by 229.1K shares in the last quarter. Meanwhile, with over 138% growth in one year, the average Tesla price target of $746.91 implies 5.1% upside potential to current levels. 

Nio (NIO)

Nio is a Chinese premium EV maker. The company recently announced delivery numbers for July 2021. Nio said that it delivered 7,931 vehicles in July, implying year-over-year growth of 124.5%. Furthermore, its cumulative deliveries of vehicles, including the ES8 (six-seater or seven-seater flagship SUV), ES6 (five-seater high-performance SUV), and EC6 (five-seater premium coupe SUV) reached 125,528 as of July 31. 

While Nio’s delivery growth rate in July significantly lagged peers (read more: NIO July Deliveries Jump 124.5%; Shares Gain), Wall Street maintains a bullish outlook on the stock. On TipRanks, Nio has received 6 positive analyst reviews for a unanimous Strong Buy consensus rating. Furthermore, hedge fund managers have increased their holdings by 54.0K shares in three months.  

Nio, whose stock has surged over 231% in one year, is scheduled to announce its Q2 financial numbers on August 11. The average NIO price target of $64.50 implies 43.1% upside potential to current levels.

Li Auto (LI)

Li Auto is a China-based company that designs and manufactures premium EVs. The company recently announced robust delivery numbers for July 2021. Li Auto delivered 8,589 vehicles in July and crossed the 8K delivery mark for the first time. Moreover, the delivery numbers reflect year-over-year growth of over 251%. 

Following the announcement, analyst Ming-Hsun Lee of Bank of America Securities reiterated his Buy rating on the stock, with a price target of $39 (19.3% upside potential). 

In addition to Lee, the rest of the street is also bullish on the stock. Its Strong Buy consensus rating is based on 6 unanimous Buys. Li Auto stock has almost doubled in one year. However, the average Li Auto price target of $44.52 implies 36.2% upside potential to current levels.

Blink Charging Co (BLNK)

Blink Charging provides charging equipment and services for EVs. Thanks to the production ramp, record EV sales, and solid jump in company-owned charging stations, Blink Charging stock has increased approximately 223% in one year. (See Blink Charging stock charts on TipRanks)   

The company contracted, sold, or deployed 1,597 commercial and residential EV charging stations in Q1. Meanwhile, its top-line increased by 72% year-over-year, reflecting increased demand and growth in its charging stations network. Notably, Blink Charging’s “owner/operator” business model provides a long-term recurring revenue stream with growing EV utilization. (Read more: Will Blink Charging Continue to Charge Ahead?)

On TipRanks, BLNK has a Moderate Buy rating, based on 2 Buys and 1 Hold. The average Blink Charging price target of $38.00 implies approximately 11.3% upside potential to current levels. 

Workhorse Group (WKHS)

Shares of the electric truck manufacturer Workhorse Group have gotten a fair amount of beating, and are down over 47% this year. The company’s problems were exacerbated when the United States Postal Service (USPS) awarded a 10-year multi-billion contract to Oshkosh (OSK) instead of Workhorse to modernize its aging delivery vehicle fleet. (See Workhorse Group stock charts on TipRanks)   

Workhorse has filed a formal complaint with the Federal Court regarding the USPS contract and recently announced Rick Dauch as its new CEO. (Read more: Workhorse: Can New CEO Trigger a Turnaround? Analyst Weighs In) 

Whether the new CEO could turn the company around remains a wait-and-watch story. Meanwhile, Wall Street maintains a Moderate Buy consensus rating on the stock, based on 2 Buys and 4 Holds. The average Workhorse Group price target of $13.25 implies 27.3% upside potential from current levels.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

U.S. President Joe Biden will sign an executive order on Thursday aimed at making half of all new vehicles sold in 2030 zero-emissions vehicles and will propose new vehicle-emission rules to cut pollution through 2026, the White House said.

The global energy industry is huge, and green energy alone is now worth more than $1 trillion worldwide. But while oil companies are worth hundreds of billions on the stock market, the only major space for renewable energy investors has been electric vehicles. Energy storage comp

U.S. President Joe Biden will sign an executive order on Thursday setting a target to make half of all new vehicles sold in 2030 zero-emissions vehicles and propose new vehicle emissions rules to cut pollution through 2026, the White House said.

Tesla stock (NASDAQ: TSLA) is up by 8% over the last week (five trading days) and currently trades at about $710 per share. The gains follow Tesla’s solid Q2 2021 results, which were driven by strong sales of the Model 3 and Model Y vehicles and rising margins. Investors

Tesla Inc Chief Executive Elon Musk will be subject of a biography by Walter Isaacson, the U.S. author who penned a best-selling tome on Apple co-founder Steve Jobs.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Detroit's Big Three automakers plan to announce on Thursday that they aspire to have 40% to 50% of new vehicle sales by 2030 be electric models as they call for billions in U.S. government assistance to meet aggressive targets, sources briefed on the matter said.

Do You Have These Top Meme Stocks On Your Watchlist Right Now?Whether you call it momentum trading or meme stock boosting, the meme stocks trade appears to be alive and kicking. After the phenomenon hit the stock market by surprise back in January, meme stocks remain trending mor

InvestorPlace - Stock Market News, Stock Advice & Trading Tips