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11 Best Battery Stocks To Buy Heading into 2024

In this piece, we will take a look at the 11 best battery stocks to buy heading into 2024. If you want to skip our introduction to the battery industry and want to jump ahead to the top five stocks in this list, then check out 5 Best Battery Stocks To Buy Heading Into 2024.

One of the most important principles when it comes to investing is trying to guess which industries will play essential roles in the future. After all, if a sector becomes indispensable to customers when it comes to its products, then, naturally, sales in the sector will be strong and income will grow provided that the managers running the business (or businesses) have sound heads on their shoulders. And one doesn’t have to look too hard to find examples of such sectors. For instance, one of the best examples of a sector that has grown rapidly over the course of just a couple of decades is consumer technology, and firms such as Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG) have become trillion dollar entities with billions of dollars in annual revenue.

However, while Apple’s era of rapid growth is most likely over, one budding industry that continues to attract investor attention is the electric vehicle industry. There are several reasons why EV companies are among the most popular among retail and institutional investors alike. Firstly, they offer a revolutionary new technology with the potential to upend the current status quote. Additionally, governments of most developed countries plan to phase out internal combustion cars over the next couple of decades, which naturally opens up the market for electric vehicle manufacturers and allows them to scale their operations.

At the heart of the electric vehicle is the battery. Akin to the fuel tank on a conventional car, without the battery, an electric vehicle cannot function. Additionally, each car has multiple batteries, which makes their demand quite voluminous. As a result, it is unsurprising that the battery industry is a sector that is pinned with some of the highest growth rates in the business world. For instance, consider the market for lithium, which is the building block of the modern day battery. Research estimates that the global lithium market will grow at a compounded annual growth rate (CAGR) of 13.1% between 2021 and 2031 to sit at an estimated $135 billion by the end of the forecast period. Concerning lithium batteries, China is projected to be the largest consumer of these products in 2030, with the Asian economic giant estimated to account for 40% of the global lithium battery demand.

The next question to ask in our analysis of the global battery market and the best battery stocks is, which countries produce the most lithium? After all, if the world really is to completely shift towards electric vehicles, then lithium can very well be the next oil, and the countries that have adequate resources or production facilities will play an indispensable role. Well, looking at the demand projections above, it is perhaps unsurprising that China had the greatest share of global lithium ion battery manufacturing capacity in 2021. We took a look at Lithium Battery Production By Country: Top 12 Countries and determined the top three countries in terms of battery manufacturing capacity (surprise, surprise) China, the U.S., and Hungary. In 2021, China accounted for a whopping 79% of global manufacturing capacity while the U.S. and Hungary accounted for 6.2% and 4%, respectively.

However, while China might make the most batteries, it doesn’t produce the most lithium. In fact, based purely on annual lithium production, the country that has the greatest potential to be the next Saudi Arabia is Australia. This is because Australia produced 55,000 tons of lithium in 2021, which is greater than the production of the next four countries that follow it in the list of 12 Countries That Produce The Most Lithium and naturally makes Australia the largest lithium producer in the world.

Finally, while lithium ion batteries are the mainstay of the electric vehicle industry due to their high energy density, they are also highly toxic and can be quite dangerous in the wrong circumstance. One battery technology that can replace lithium ion batteries and provide far greater energy density and performance is solid state batteries. These batteries do not use a liquid electrolyte to conduct electricity, which improves the amount of current that travels between the negative and positive terminals. When it comes to battery technologies, if we only consider the number of patents filed, then Japan is the most advanced country in the world when it comes to battery technologies.

With these details in mind, let’s take a look at some top battery stocks to buy heading into 2024, and some notable names are General Motors Company (NYSE:GM), Tesla, Inc. (NASDAQ:TSLA), and Honeywell International Inc. (NASDAQ:HON).

Our Methodology

To make our list of the best battery stocks to buy, we first made a list of 28 companies that supply lithium, sell batteries, or provide technologies to operate batteries. Out of these, the stocks with the highest number of hedge fund investors in Q2 2023 were picked as the top battery stocks for 2024.

Best Battery Stocks To Buy Heading into 2024

11. Solid Power, Inc. (NASDAQ:SLDP)

Number of Hedge Fund Investors In Q2 2023: 16

Solid Power, Inc. (NASDAQ:SLDP) is an American firm that develops solid state batteries. Owing to the nascent nature of the solid state industry, it should be quite some time before the products can be adopted by the mass market, and perhaps this is why the firm’s shares are rated Hold on average. However, the average share price target of $3.5 does hint at a large upside over the current share price of $1.67.

By the end of this year’s second quarter, 16 out of the 910 hedge funds polled by Insider Monkey had held a stake in Solid Power, Inc. (NASDAQ:SLDP). Out of these, the largest shareholder is Ken Griffin’s Citadel Investment Group as it owns 1.5 million shares that are worth $3.8 million.

Solid Power, Inc. (NASDAQ:SLDP) joins Tesla, Inc. (NASDAQ:TSLA), General Motors Company (NYSE:GM), and Honeywell International Inc. (NASDAQ:HON) in our list of the best battery stocks to buy.

10. Stem, Inc. (NYSE:STEM)

Number of Hedge Fund Investors In Q2 2023: 17

Stem, Inc. (NYSE:STEM) is a diversified battery firm that sources energy storage systems and then sells it to customers. The firm expanded its software platform for the financial sector in September 2023 through a new platform designed to help energy traders.

As of June 2023, 17 out of the 910 hedge funds tracked by Insider Monkey were the firm’s investors. Jos Shaver’s Electron Capital Partners owns the biggest stake among these which is worth $17.5 million.

9. QuantumScape Corporation (NYSE:QS)

Number of Hedge Fund Investors In Q2 2023: 17

QuantumScape Corporation (NYSE:QS) is another solid state battery company that is currently in the research and development phase. This makes it a stock that is purely a long term play, as the shares can either rise if a major breakthrough takes place or continue to lose their value if QuantumScape Corporation (NYSE:QS) remains quiet.

During Q2 2023, 17 hedge funds among the 910 part of Insider Monkey’s database had bought and owned QuantumScape Corporation (NYSE:QS)’s shares. Philippe Laffont’s Coatue Management is the firm’s largest hedge fund investor through its $24.4 million investment.

8. FREYR Battery (NYSE:FREY)

Number of Hedge Fund Investors In Q2 2023: 18

FREYR Battery (NYSE:FREY) is a European firm based in Luxembourg that makes and sells lithium ion battery cells. Seems like Wall Street is particularly impressed by the firm, as it is the first stock on our list that is rated Strong Buy on average. Additionally, the average share price target of $13.17 for a sizeable upside over the current share price of $3.97.

Insider Monkey took a look at 910 hedge funds for their June quarter of 2023 shareholdings and discovered that 18 were the firm’s investors. FREYR Battery (NYSE:FREY)’s biggest shareholder is Todd J. Kantor’s Encompass Capital Advisors due to its $64.9 million stake that comes via 6.9 million shares.

7. Enovix Corporation (NASDAQ:ENVX)

Number of Hedge Fund Investors In Q2 2023: 20

Enovix Corporation (NASDAQ:ENVX) is a pure play lithium ion battery manufacturer. Just like FREYR, its shares are also rated Strong Buy on average, indicating that Wall Street is quite bullish on the sector. The firm made a big move in September to expand its battery manufacturing capabilities as it bought a Korean battery manufacturing company.

During this year’s second quarter, 20 out of the 910 hedge funds polled by Insider Monkey had held a stake in Enovix Corporation (NASDAQ:ENVX). Peter S. Park’s Park West Asset Management owns the biggest stake among these, which is worth $97.1 million.

6. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Number of Hedge Fund Investors In Q2 2023: 24

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a backend battery company that provides lithium, the primary material in battery fabrication. The firm’s investors were in for some disappointing news in October as Bank of America reduced its share price target to $59 from $69 and downgraded its rating to Underperform from Neutral.

20 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 research had invested in the company. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)’s biggest hedge fund investor in our database is Ken Griffin’s Citadel Investment Group since it owns $118 million worth of shares.

General Motors Company (NYSE:GM), Tesla, Inc. (NASDAQ:TSLA), Sociedad Química y Minera de Chile S.A. (NYSE:SQM), and Honeywell International Inc. (NASDAQ:HON) are some top battery stocks with strong hedge fund interest.

Click here to continue reading and check out 5 Best Battery Stocks To Buy Heading into 2024.

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Disclosure: None. 11 Best Battery Stocks To Buy Heading into 2024 is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

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Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


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