11 Best Australian Stocks to Buy According to Analysts

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6. NOVONIX Limited (NASDAQ:NVX)

Number of Hedge Fund Holders: 1

Analyst Upside Potential: 133.69%

NOVONIX Limited (NASDAQ:NVX) is a battery material and technology company based in Australia. It serves the electric vehicle and energy storage markets. The company operates through three main segments: Battery Material, Battery Technology, and Graphite Exploration.

The company released its quarterly activities report on April 30. NOVONIX Limited (NASDAQ:NVX) has been advancing its synthetic graphite anode production at its Riverside facility. Management is targeting an initial capacity of 3,000 tonnes per annum to fulfill its agreements with partners such as Panasonic, Stellantis, and PowerCo. The company also secured an exclusive license with Harper International for proprietary graphitization furnace technology, which is expected to optimize manufacturing efficiency and cost.

NOVONIX Limited (NASDAQ:NVX) also highlighted that it has secured approval from the local government to set up a second mass production plant to further boost its manufacturing capacity. Analysts are expecting significant upside for the company, making it one of the best Australian stocks to buy, according to analysts.

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