The 3 Best Flying Car Stocks to Buy in April 2024

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If you are after the best flying car stocks to buy in April, then you’ve come to the right place. I believe that this year is when we’ll see flying car stocks take off to new heights, spurred on by a speculative bull market for tech stocks in the Nasdaq and S&P 500.

The idea of flying cars has long captured the public imagination as the ultimate tech transportation innovation. While still in the early stages, several companies are now making strides toward making this sci-fi vision a reality through developing electric vertical take-off and landing (eVTOL) vehicles.

Like with all stocks, they are not created equally. So, I’ve prepared this list of three companies that I think represent the best value in the market and could potentially make investors wealthy with the right-sized investment. However, it’s always advisable to invest in your personal risk tolerance and take the long-term view instead of speculative gambles.

Joby Aviation (JOBY)

Joby Aviation (NYSE:JOBY) has gained attention with its potential for commercial flights by 2025. It also has solid earnings and a significant contract with the U.S. Department of Defense, thus making it one of those best flying car stocks to buy in April.

By the end of the third quarter of 2023, JOBY had $1.1 billion in cash and short-term investments. It also completed a series of flight tests and delivered its first electric air taxi to the U.S. Air Force.

JOBY has also completed the third of five stages of the FAA’s type certification process. 

These factors make me (and many other analysts and investors) surmise that JOBY could be one of the best companies to buy in the flying car space at the time of writing. It does a great job of balancing the industry’s speculative element with solid progress and plenty of cash to smooth out uncertainties.

EHang Holdings (EH)

EHang Holdings (NASDAQ:EH) stands out for its achievements in China and international demonstrations. It’s known for conducting 39,000 demo flights across 14 countries and securing type certification from the Civil Aviation Administration of China.

EHang’s financials for 2023 showed total revenues reaching RMB117.4 million ($16.5 million), a 165.0% increase from the previous year. The gross margin slightly decreased to 64.1%, while operating and net losses saw improvements of 2.5% and 8.2%, respectively. 

I’m bullish on EH because I believe Chinese flying car manufacturers will take the world’s leading position in market share. This thesis is playing out now in the EV space, with American-made car bands such as Tesla (NASDAQ:TSLA) unable to catch up with China’s manufacturing prowess and the demographics of the Asian market.

EH stock may also be a strong diversifier in one’s portfolio if one seeks to move funds away from purely U.S. shares and scoop up a flying car stock.

Archer Aviation (ACHR)

Archer Aviation (NYSE:ACHR) is making significant strides toward FAA certification and commercial launch in 2025. Partnerships with InterGlobe and the Abu Dhabi Investment Office help to make it one of the best flying car stocks to buy in April.

Last year, the company showed positive signs, including ending the year with around $625 million in liquidity and an indicative order book worth up to $3.5 billion.

Archer is on track to complete a high-volume manufacturing facility in 2024, aiming for a production capacity of up to 650 aircraft annually from 2025. The company’s flight test program is expected to include 400 flights in 2024,

Market analysts maintain a positive outlook on ACHR, giving it a consensus “Buy” rating. The average price target for ACHR is $9.60, indicating a significant upside potential from its current level. The highest price target set by analysts is $12.

ACHR’s Midnight eVTOL could be one of those slightly underappreciated options investors should hedge with, along with EH and JOBY, for a formidable flying car stock portfolio.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.

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