Some stocks, at times, get much higher attention and interest than others from investors and analysts alike. Frequently, such stocks are from a hot sector, like electric vehicles (EVs) right now. But should you buy a stock just because it is hot?

Let's discuss three EV stocks that are getting a lot of love from Wall Street, and if they are attractive buys right now or not.

Tesla

Probably no other car company has captured investors' attention in the way Tesla (TSLA -4.02%) did in the last few years. That got reflected in a steep rise in Tesla's stock price -- from less than $5 in 2010 to more than $1,000 right now. That's a rise of more than 20,000% in roughly 11 years. Interestingly, the stock rose more than 1,000% in just the last two years. The rate of growth in Tesla's stock price fell in 2021, when the stock rose just around 52%.

A Tesla Model X on the road.

Image source: Tesla.

But the question that is at the top of investors' minds right now is whether the stock still makes an attractive buy. There are probably two key factors that may drive Tesla's stock price up from here on. First, if the company manages to grow its EV deliveries, at the margin it is currently generating, the stock could see steady gains in the coming years. These will not likely be of the magnitude seen in the past.

Second, Tesla stock could see substantial gains if the company manages to bring better full self-driving features to the market than the competition. The company could potentially disrupt other segments, such as auto insurance, using custom premium rates based on driver data gathered by it. Notably, these are all possibilities, and may not turn into a reality.

On the flip side, Tesla stock looks priced for perfection. With rising competition, the road ahead for the company isn't entirely smooth. Any deviation from expectations may send the stock's price downward. But all said, Wall Street's love for the stock doesn't seem unreasonable.

Rivian

Another EV stock that has garnered tons of attention from Wall Street is Rivian (RIVN -0.89%). The electric vehicle manufacturer has delivered fewer than 400 vehicles so far. Yet, the stock is trading at a market capitalization of more than $90 billion. There are quite a few things that investors like about Rivian. To begin with, it is the first company to launch an electric pickup truck. It beat the likes of General Motors, Ford, and Tesla to launch an electric truck.

People swapping battery of a 2022-Rivian-R1T.

Image source: Rivian.

What's more, the company's truck got positive reviews from users and media. Its pickup truck was selected as MotorTrend's 2022 Truck of the Year. In addition to the pickup truck, the company started deliveries of its first SUV in December. Rivian has received more than 71,000 pre-orders for its truck and SUV combined, indicating a strong consumer interest in its vehicles.

Finally, the company is backed by Amazon (AMZN -0.34%), which owns a roughly 20% stake in Rivian. Additionally, Amazon has agreed to buy 100,000 electric delivery vans from Rivian. So, Rivian has some good products and ready buyers. All it now needs to do is start delivering the EVs.

Though promising, the valuation of Rivian stock looks substantially rich. Investors might want to let the story play out before deciding to buy Rivian stock.

Lucid Group

Lucid Group (LCID -1.96%) rose to prominence when it successfully delivered its first car, the Lucid Air, with a longer range than that of any other electric car in the market. At its top trim, the car offers a range of 520 miles -- about 100 miles more than Tesla's Model S. Lucid's experience in batteries that power the world's premier EV racing series came in handy when delivering superior performance. The Lucid Air also bagged the 2022 MotorTrend Car of the Year award.

Lucid Air vehicles on the road.

Image source: Lucid Group.

Lucid plans to deliver 20,000 vehicles in 2022. Beyond that, Lucid has laid out its growth plans systematically. The company plans to launch the Grand Touring, Touring, and Pure versions of the Lucid Air in 2022. In 2023, it intends to launch its SUV called Gravity. Moreover, the company plans to enter the European and Middle Eastern markets in 2022.

Lucid's solid products and its clear growth plans make its stock attractive. However, investors should note that the company still has a long way to go before it starts delivering cars profitably.