3 Electric Vehicle Stocks Outperforming Tesla In 2021

NASDAQ: TSLA | Tesla, Inc. News, Ratings, and Charts

Tesla Inc. (TSLA) has been on a tear to start the new year, rising from $729 to $826. TSLA shares were trading at $841.86 per share on Tuesday morning, up $15.70 (+1.90%). Year-to-date, TSLA has gained 19.30%, versus a 0.91% rise in the benchmark S&P 500 index during the same period. However, TSLA is not the only EV stock that has fared well across the initial weeks of 2021.

Take a close look at the EV sector and you will find several stocks that have spiked to start the new year, many of which are likely to continue their ascension through the remainder of the financial quarter and possibly beyond. Below, we shine the spotlight on the following three EV stocks that have outperformed TSLA to start the new year: Niu Technologies (NIU), General Motors (GM), and Blue Bird Corporation (BLBD).

Niu Technologies (NIU)

E-scooters certainly don’t receive the same level of attention from the mainstream media as electric vehicles yet investors are taking note of the diminutive green devices. NIU is one of the leading makers of solutions for smart urban mobility such as e-scooters. Based in Beijing, NIU is poised to sell millions of e-scooters to those living in the world’s most populous country, as well as other urban residents across the globe.

The POWR Ratings reveal NIU has an “A” Trade Grade component along with “B” grades in the Industry Rank, Peer Grade, and Buy & Hold Grade components. Of 52 stocks in the Technology – Hardware space, NIU is ranked 25th.

NIU started the year at $28.77. The stock has recently been trading around $38, meaning it is outpacing Tesla in the initial weeks of 2021. The top analysts believe NIU will move even higher, setting an average price target of $43 for the stock. If NIU reaches this level, it will have increased by more than 13%.

NIU’s recent spike is largely attributable to its glowing fourth-quarter results. NIU’s quarterly sales grew more than 40% compared to the same period in the year prior. It is particularly important to note the company’s sales outside of China nearly tripled in the quarter.

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