5 EV Stocks to Invest In

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In this article, we discuss the 5 EV stocks to invest in. If you want to read about some more EV stocks, go directly to the 10 EV Stocks to Invest In.

5. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 39   

Albemarle Corporation (NYSE:ALB) develops, manufactures, and markets engineered specialty chemicals worldwide. Even though 2022 has not been kind on most firms, Albemarle is a refreshing exception, having revised guidance upwards in the past few months. The rocketing prices of rare earths, especially lithium, have also helped the firm post record earnings. The firm will end 2022 with positive free cash flow even though analysts had expected that figure to be in the red earlier this year.  

On September 9, Citi analyst P.J. Juvekar maintained a Buy rating on Albemarle Corporation (NYSE:ALB) stock and raised the price target to $345 from $294, noting that the lithium supply/demand balance was still tight. 

At the end of the second quarter of 2022, 39 hedge funds in the database of Insider Monkey held stakes worth $600 million in Albemarle Corporation (NYSE:ALB), compared to 44 the preceding quarter worth $454 million.

In its Q1 2021 investor letter, Carillion Tower Advisers, an asset management firm, highlighted a few stocks and Albemarle Corporation (NYSE:ALB) was one of them. Here is what the fund said:

“Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. The firm’s shares outperformed in the quarter, driven largely by the current robust demand environment for lithium used in the manufacturing of electric vehicle batteries. As the global push towards the reduction of carbon emissions continues to gain steam, Albemarle is well positioned to benefit from the accelerating adoption of electric vehicles.”

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