In this article, we will discuss the 5 Best Battery Technology Stocks to Buy for Grid Storage. For deeper discussion and analysis, read 7 Best Battery Technology Stocks to Buy for Grid Storage.
5. Flex Ltd. (NASDAQ:FLEX)
Short Percentage of Shares Outstanding: 1.80%
On June 9, Flex Ltd. (NASDAQ:FLEX) announced the divestiture of its Sheldahl business to Chase Corporation as part of its ongoing strategy to optimize its portfolio and increase its focus on higher-growth, higher-margin businesses. Sheldahl designs and manufactures specialized coated films, laminates, and flexible circuit technologies for the aerospace, automotive, industrial, and medical markets. The transaction was completed upon signing, with the financial terms of the agreement not disclosed.
On the same day, Flex Ltd. (NASDAQ:FLEX) announced that it had been selected for inclusion in the S&P 500 Index, effective prior to the opening of trading on June 22. The addition to the benchmark index represents a significant milestone for the company and reflects its scale, market capitalization, liquidity, and growing importance within the U.S. equity market.
Founded in 1969 and headquartered in Austin, Texas, Flex Ltd. (NASDAQ:FLEX) is an electronics manufacturing and supply chain solutions provider. It designs and produces mission-critical power management, utility-scale electrical infrastructure, and advanced cooling systems required for massive grid storage and renewable energy deployments.
4. Electra Battery Materials Corporation (NASDAQ:ELBM)
Short Percentage of Shares Outstanding: 1.16%
On June 8, Electra Battery Materials Corporation (NASDAQ:ELBM) announced that it has engaged engineering consultants to advance a development study for a potential battery-grade nickel refinery in the southeastern United States. The proposed facility is being evaluated with a target annual production capacity of approximately 15,000 tons of nickel sulfate and metal, along with 1,000 tons of cobalt metal.
Chief Executive Officer Trent Mell stated that, as the company approaches a key construction milestone for its cobalt sulfate refinery, it is also progressing its longer-term pipeline of critical minerals processing assets. He added that the expertise gained through the design and construction of the company’s North American cobalt sulfate refinery provides a strong foundation for evaluating future nickel refining opportunities. Electra also reaffirmed that its cobalt sulfate refinery remains its highest-priority development project and is expected to begin commissioning in the second quarter of 2027.
On June 4, Electra Battery Materials Corporation (NASDAQ:ELBM) announced the award of a structural, mechanical, and piping construction contract valued at approximately C$12.4 million to Ontario-based Kilmarnock Enterprises. The contract forms part of the ongoing construction activities at Electra’s cobalt sulfate refinery complex located north of Toronto and represents another step forward in the development of the company’s flagship critical minerals processing facility.
Founded in 2011 and headquartered in Toronto, Canada, Electra Battery Materials Corporation (NASDAQ:ELBM) produces and recycles critical raw materials like cobalt and nickel for the EV supply chain. The company supplies the high-purity, battery-grade sulfate materials needed to build lithium-ion energy storage systems (ESS) and electric vehicles.
3. Equinor ASA (NYSE:EQNR)
Short Percentage of Shares Outstanding: 0.89%
On June 22, Berenberg lowered its price target on Equinor ASA (NYSE:EQNR) to NOK 320 from NOK 365 while maintaining a Hold rating on the shares. The revised target reflects the firm’s updated valuation assessment, although it continues to recommend holding the stock.
On June 5, TD Cowen analyst Jason Gabelman raised the firm’s price target on Equinor ASA (NYSE:EQNR) to $42 from $40 while reiterating a Hold rating. The firm viewed the company’s June 16 Capital Markets Day as a positive catalyst, forecasting an increase in Equinor’s 2026 share buyback program from $1.5 billion to $4 billion, with the potential for additional buyback guidance to be announced for 2027.
Founded in 1972 and headquartered in Stavanger, Norway, Equinor ASA (NYSE:EQNR) is a global energy company primarily engaged in oil and gas exploration, production, and distribution. It functions as a renewable battery technology stock through its utility-scale Battery Energy Storage Systems (BESS), acquiring developers like East Point Energy and investing in Noriker Power to stabilize grids and store surplus wind and solar energy.
2. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)
Short Percentage of Shares Outstanding: 0.56%
On June 2, JPMorgan downgraded Sociedad Química y Minera de Chile S.A. (NYSE:SQM) to Neutral from Overweight while raising its price target to $100 from $94. The firm cited limited upside potential for lithium prices from current spot levels, noting that inventories in China have begun to recover following a significant drawdown over recent months. As a result, JPMorgan believes the stock offers more limited near-term appreciation despite the higher valuation target.
On May 28, Scotiabank raised its price target on Sociedad Química y Minera de Chile S.A. (NYSE:SQM) to $105 from $100 while maintaining an Outperform rating on the shares. Following the company’s first-quarter results and updated guidance, the firm stated that SQM offers multiple avenues for value creation, reflecting confidence in its operating performance and long-term growth prospects.
Founded in 1968 and headquartered in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a global specialty chemicals and mining company. It produces vital battery materials, such as lithium hydroxide and carbonate, used in utility-scale energy storage systems, making it a key driver in the grid storage sector.
1. Brookfield Renewable Partners L.P. (NYSE:BEP)
Short Percentage of Shares Outstanding: 0.53%
On June 12, UBS raised its price target on Brookfield Renewable Partners L.P. (NYSE:BEP) to $40 from $39 while maintaining a Buy rating on the shares. The revised target reflects the firm’s continued confidence in the partnership’s long-term growth prospects and its ability to benefit from increasing global investment in renewable energy infrastructure.
On May 4, TD Securities increased its price target on Brookfield Renewable Partners L.P. (NYSE:BEP) to $39 from $38 and reiterated a Buy rating. The firm cited the company’s solid first-quarter results, noting that the quarterly performance reinforced confidence in Brookfield Renewable’s operational execution and financial outlook.
Founded in 2011 and headquartered in Toronto, Canada, Brookfield Renewable Partners L.P. (NYSE:BEP) is an owner and operator of global clean energy assets. It rapidly expands grid storage capabilities, bolstered by major acquisitions like Neoen, to store intermittent solar and wind energy, providing reliable baseload power to the grid.
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