4. EnerSys (NYSE:ENS)
Short Interest as % of Shares Outstanding: 2.40%
Number of Hedge Fund Holders: 30
EnerSys (NYSE:ENS) is a Pennsylvania-based leading company in the battery industry due to its broad range of energy storage solutions designed for various industrial uses. The company operates through four key segments, Energy Systems, Motive Power, Specialty, and New Ventures.
In its Energy Systems segment, the company supplies uninterruptible power systems (UPS) for telecommunications and industrial sites, large-scale energy storage solutions, and integrated power systems for sectors like broadband and renewable energy.
The Motive Power segment caters to power solutions for electric industrial forklifts and automated guided vehicles. Meanwhile, the Specialty segment provides batteries for automotive, satellite, and military vehicle applications.
The New Ventures segment is focused on creating energy storage and management systems to cut demand charges and offer backup power for utilities and electric vehicles. The company has been actively expanding its market reach through key acquisitions. In July, it completed the purchase of Bren-Tronics, which betters its capabilities in defense applications and strengthens its role in the military battery sector. This acquisition supports the company’s effort to diversify its product lineup and enter rapidly growing markets.
Additionally, the company is in the midst of expanding its operations with the construction of a lithium-ion cell gigafactory in Greenville, South Carolina. The company plans to invest $500 million in this new facility. Once operational, it will produce different types of lithium-ion cells for commercial, industrial, and defense uses, and is aiming for an annual production capacity of four-gigawatt hours (GWh).
In August, EnerSys (NYSE:ENS) reported its fiscal Q1 2025 earnings. The non-GAAP EPS was $1.98, which surpassed expectations by $0.03. The company reported revenue of $853 million. David Shaffer, President and CEO, highlighted that the company achieved its earnings goals by maintaining prices and implementing careful cost reductions, while also investing in promising growth opportunities. By keeping prices stable, the company avoided compromising its pricing to attract new business, and its cost reduction measures suggest a well-thought-out plan for managing expenses.
On August 27, Roth MKM analyst Chip Moore initiated coverage of the stock with a Buy rating and a $120 price target. Moore views the company as a key player in the energy transition, well-positioned to address complex and evolving power challenges. The analyst believes that the company’s innovation in response to trends like electrification, automation, and digitization will drive its future growth. It is among our best battery stocks to buy now according to short sellers.
In the second quarter, 30 hedge funds held positions in EnerSys (NYSE:ENS) worth $430.571 million. As of Q2, AQR Capital Management is the most dominant shareholder in the company and has a position worth $94.022 million.
