5 Cheap Lithium Stocks to Buy Now

2. CBAK Energy Technology, Inc. (NASDAQ:CBAT)

Number of Hedge Fund Holders: 5  

Real-Time Share Price as of April 18: $1.22  

CBAK Energy Technology, Inc. (NASDAQ:CBAT) makes and sells lithium batteries. The company recently posted earnings for the fourth quarter of 2021, reporting a revenue of $27.8 million, up more than 80% compared to the revenue over the same period last year. The stock has climbed in recent weeks as Chinese authorities ease restrictions on dual-listed firms and markets react to positive news from Russian-Ukraine peace talks. An increase in the price of oil has also pushed EV adoption in the past few months. 

In late 2021, CBAK Energy Technology, Inc. (NASDAQ:CBAT) had announced that it had started operations at a lithium power plant in the Jiangsu province of China. The plant has an initial annual capacity of 0.7 GWh for the new 32140 battery model. 

At the end of the fourth quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $3 million in ACBAK Energy Technology, Inc. (NASDAQ:CBAT), compared to 6 in the preceding quarter worth $2 million.