5 Best Lithium and Battery Stocks To Buy

Page 1 of 5

In this article, we discuss the 5 best lithium and battery stocks to buy. If you want to read a detailed analysis of the lithium and battery market, go to 12 Best Lithium and Battery Stocks To Buy.

5. Livent Corporation (NYSE:LTHM)

Number of Hedge Fund Holders: 30

Livent Corporation (NYSE:LTHM) is a performance lithium compounds manufacturer. Its products are used in lithium-based batteries, specialty polymers, and chemical synthesis applications. On August 8, CICC initiated Livent Corporation (NYSE:LTHM)’s coverage with an Outperform rating and a $27.30 price target.

On August 2, Livent Corporation (NYSE:LTHM) reported Q2 GAAP EPS of $0.31, in line with market expectations. The revenue soared by 114.0% on a YoY basis to $218.7 million, beating the analyst estimates by $9.31 million. The adjusted EBITDA surged by 78% over the quarter to $95 million. Moreover, Livent Corporation (NYSE:LTHM) raised its revenue and EBITDA guidance for FY 2022. The company expects to generate revenues of $800-$860 million, compared to the previous outlook of $755-$835 million. The EBITDA outlook was raised to $325 million-$375 million from the prior forecast of $290-$350 million.

Out of the 895 hedge funds tracked by Insider Monkey, 30 had a stake in Livent Corporation (NYSE:LTHM) at the end of the June quarter, compared to 25 funds in Q1 2022. In Q2, Joho Capital held the most prominent position with 3.94 million shares valued at $89.4 million.

Page 1 of 5