Below we presented the list of 5 best lithium and battery stocks to buy today. For a more comprehensive list please see the top 11 lithium and battery stocks to buy right now.
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let’s take a look at the best lithium and battery stocks to buy according to hedge funds:
5. Albemarle Corp (NYSE: ALB)
No of HFs: 27
Total Value of HF Holdings: $112 Million
Albemarle Corp is a North Carolina based fine chemical manufacturing company considered the largest electric vehicle provider of lithium.
The fund’s top hedge fund holder is Ken Griffin’s Citadel Investment Group which is also the top hedge fund holder of JCI. Billionaire Griffin had more than US$34 million invested in the stock at the end of September.
For the second quarter of 2020, the company reported a net income of US$86 million or US$0.08 per diluted share; adjusted earnings per diluted share of $0.86. They also reported net sales of $764 million, a decrease of 14%, in-line with Q2 2020 outlook.