5 Best Lithium Stocks To Buy Now

2. Livent Corporation (NYSE:LTHM)

Number of Hedge Fund Holders: 28

Livent Corporation (NYSE:LTHM) manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This February, Livent Corporation (NYSE:LTHM) reported earnings for the fiscal fourth quarter of 2021 in which it beat both EPS and revenue estimates. The company reported revenues of $122.90 million, up 49.51% year over year, and outperformed market consensus by $16.63 million. Moreover, the company’s earnings per share came to $0.08, beating EPS estimates by $0.01.

This February, BofA analyst Matthew DeYoe upgraded Livent Corporation (NYSE:LTHM) to Neutral from Underperform. The analyst believes that despite the stock having plummeted by 29% from November highs, the market for lithium is improving which will drive the growth of lithium stocks.  Livent Corporation (NYSE:LTHM) is experiencing bullish trading volumes and as of April 26, 2022, the stock has gained 12.00% over the past twelve months, making it the second-best lithium stock to buy now.

Livent Corporation (NYSE:LTHM) is gaining popularity among investor circles. By the end of the fourth quarter of 2021, 28 hedge funds were long Livent Corporation (NYSE:LTHM) with stakes worth $289.14 million. This is compared to 27 hedge funds in the third quarter of 2021 with stakes of $277.43 million. The hedge fund sentiment for Livent Corporation (NYSE:LTHM) is positive.

As of December 31, 2021, Joho Capital is the largest shareholder in Livent Corporation (NYSE:LTHM) owning more than 4.2 million shares of stock which equate to a stake value of $104.17 million.