5 Cheap Lithium and Battery Stocks to Invest In

In this article, we discuss the 5 cheap lithium and battery stocks to invest in. If you want to read our detailed analysis of these stocks, go directly to the 10 Cheap Lithium and Battery Stocks to Invest In. 

5. ChargePoint Holdings, Inc. (NYSE:CHPT)

Number of Hedge Fund Holders: 18 

Real-Time Share Price as of December 14: $21.02 

ChargePoint Holdings, Inc. (NYSE:CHPT) provides electric vehicle charging networks. Pasquale Romano, the CEO of the firm, recently said that the firm remains in investment mode and will turn profits as it drives revenue growth and improves margins. 

Stifel analyst Stephen Gengaro recently reiterated a Buy rating on ChargePoint Holdings, Inc. (NYSE:CHPT) stock with a price target of $29, appreciating the higher margins in the third quarter earnings results of the firm. 

At the end of the third quarter of 2021, 18 hedge funds in the database of Insider Monkey held stakes worth $97 million in ChargePoint Holdings, Inc. (NYSE:CHPT), up from 17 in the preceding quarter worth $149 million. 

In its Q1 2021 investor letter, Alger, an asset management firm, highlighted a few stocks and ChargePoint Holdings, Inc. (NYSE:CHPT) was one of them. Here is what the fund said:

“ChargePoint Holdings, Inc. was among the top detractors from performance. ChargePoint provides a network of electric vehicle (EV) charging stations globally. Like equities of many businesses geared to electric vehicles, ChargePoint shares underperformed in the first quarter of 2021 as part of a broad rotation away from high-growth technology companies with limited track records of performance as public companies. Longer term, Charge Point could potentially serve as a bellwether company of the fast growing EV category and we believe it is an attractive way to gain exposure to EV adoption without betting on whether a particular EV brand will win in the marketplace. Additionally, EVs are a massive end market.”