5 Best Lithium And Battery Stocks To Buy Now

In this article, we will look at the 5 best lithium and battery stocks to buy now. If you want to explore similar stocks, you can go to 12 Best Lithium And Battery Stocks To Buy Now.

5. Sociedad Quimica y Minera (NYSE:SQM)

Number of Hedge Fund Holders: 25

Sociedad Quimica y Minera (NYSE:SQM) is a premier producer of battery-grade lithium. The stock is placed fifth on our list of the best lithium and battery stocks to buy now according to hedge funds. As of March 9, Sociedad Quimica y Minera (NYSE:SQM) has returned 4.87% to investors year to date.

On March 3, Sociedad Quimica y Minera (NYSE:SQM) posted market-beating earnings for the fourth quarter of fiscal 2022. The company reported an EPS of $4.03 and outperformed EPS estimates by $0.22. The company’s revenue for the quarter amounted to $3.13 billion, up 189% year over year and ahead of Wall Street estimates by $114.39 million.

As of January 10, Deutsche Bank analyst Corinne Blanchard has a $95 price target and Buy rating on Sociedad Quimica y Minera (NYSE:SQM).

Sociedad Quimica y Minera (NYSE:SQM) was spotted on 25 investors’ portfolios at the close of Q4 2022. These funds held collective positions worth $543.2 million in the company. As of December 31, Ken Griffin’s Citadel Investment Group is the largest shareholder in the company and has disclosed a position worth $94.2 million.

4. FREYR Battery (NYSE:FREY)

Number of Hedge Fund Holders: 27

FREYR Battery (NYSE:FREY) is involved in the manufacturing and marketing of lithium-ion battery cells for energy storage systems, electric mobility, marine, and aviation applications. At the end of the fourth quarter of 2022, 27 hedge funds were long FREYR Battery (NYSE:FREY) and held stakes worth $288.5 million in the company.

This February, BofA analyst Julien Dumoulin-Smith started coverage of FREYR Battery (NYSE:FREY) with a Buy rating and a $13 price target. The stock is one of the best lithium and battery stocks to buy now.

As of December 31, Sylebra Capital Management was the most prominent investor in FREYR Battery (NYSE:FREY) and disclosed a position worth $71.8 million in the company.

3. Enovix Corporation (NASDAQ:ENVX)

Number of Hedge Fund Holders: 28

Enovix Corporation (NASDAQ:ENVX) is an innovative American battery manufacturing company. The company is involved in the design and development of silicon-anode lithium-ion batteries. This March, the company announced that its board of directors has approved the design of Gen2 Autoline, the company’s next-gen manufacturing line. According to Enovix Corporation (NASDAQ:ENVX), the Gen2 Autoline is expected to grow its battery manufacturing capacity by more than 10 times relative to the company’s Gen1 line.

On February 23, Piper Sandler analyst Alexander Potter raised his price target on Enovix Corporation (NASDAQ:ENVX) to $25 from $22.50 and maintained an Overweight rating on the shares.

At the close of Q4 2022, 28 hedge funds were eager on Enovix Corporation (NASDAQ:ENVX) and held positions worth $331.9 million in the company. The stock is the third best lithium and battery stock to buy now according to hedge funds.

As of December 31, Park West Asset Management is the leading shareholder in Enovix Corporation (NASDAQ:ENVX) and has disclosed a position worth $107.5 million in the company.

2. Livent Corporation (NYSE:LTHM)

Number of Hedge Fund Holders: 29

Livent Corporation (NYSE:LTHM) is a leading specialty chemicals company and a premier producer of high-performance lithium products for use in lithium-ion batteries. The stock is placed second among the best lithium and battery stocks to buy now and has returned 14.33% to investors year to date, as of March 9.

On February 16, Mizuho analyst Christopher Parkinson raised his price target on Livent Corporation (NYSE:LTHM) to $30 from $27 and maintained a Neutral rating on the shares.

Livent Corporation (NYSE:LTHM) was held by 29 hedge funds at the end of Q4 2022. These funds held collective positions worth $250.5 million in the company. As of December 31, Marshall Wace LLP is the leading shareholder in Livent Corporation (NYSE:LTHM) and has disclosed a position worth $20.3 million in the company.

1. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 46

Albemarle Corporation (NYSE:ALB) is one of the largest providers of lithium for EV batteries. The company is involved in the manufacturing and distribution of specialty chemicals across the globe and has three business segments: Lithium, Bromine, and Catalysts. This February, Piper Sandler raised his price target on Albemarle Corporation (NYSE:ALB) to $330 from $310 and reiterated an Overweight rating on the shares.

Albemarle Corporation (NYSE:ALB) tops our list of the best lithium and battery stocks to buy according to hedge funds. Over the past 12 months, the stock has returned 25.68% to investors, as of March 9.

Albemarle Corporation (NYSE:ALB) was a part of 46 investors’ portfolios at the close of the fourth quarter of 2022. These funds held collective stakes worth $587.8 million in the company. As of December 31, Citadel Investment Group is the most prominent investor in the company and has a stake worth $114.6 million.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a look at 10 High-Growth Lithium Stocks to Buy and 12 Biggest Pest Control Companies in the World.