5 Cheap Lithium Stocks to Buy Now

3. Westwater Resources, Inc. (NYSE:WWR)

Number of Hedge Fund Holders: 6  

Real-Time Share Price as of April 18: $1.64  

Westwater Resources, Inc. (NYSE:WWR) operates as an energy materials developer. The company has begun Phase 1 development on a battery facility in Alabama. The Phase 1 of this project is expected to be completed by 2023. The stock is one of the premier graphite plays in the US. Graphite is a key component of lithium-ion batteries that power electric vehicles around the globe. The firm was founded in 1977 and is headquartered in Colorado. The flagship project of the firm is the Coosa graphite project. 

Chris Jones, the CEO of Westwater Resources, Inc. (NYSE:WWR), said during the fourth quarter earnings call the company had secured the site for the intended processing plant in Alabama. Construction of the plant began in late 2021. 

At the end of the fourth quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $2 million in Westwater Resources, Inc. (NYSE:WWR), up from 4 in the preceding quarter worth $1 million.