10 Best Lithium and Battery Stocks to Buy Now

4. Sigma Lithium Corporation (NASDAQ:SGML)

Number of hedge fund investors: 22

Sigma Lithium Corporation (NASDAQ:SGML) produces high-purity lithium for the electric vehicle batteries market.

Revenues from volumes of Quintuple Zero High Purity Lithium Concentrate for Q1 2024 were recorded at $37.2 million, which stayed quite stable as compared to the 4^th quarter 2023 revenue figure of $37.7 million. Operational efficiency was bolstered by the company, as the unit operating cost fell from $478 per ton to $397 per ton.

The stock has been under the hedge fund investors’ radar, and as such, its popularity has risen over the last 6 months. As of Q4 2023, 18 investors held a stake in the stock, and this increased to 22 hedge fund investors, as of Q1 2024, who have invested $124 million worth of investments.

Also, the analysts have set a target price of $28.93, as compared to its price of $12.48, as of writing this article – that’s an upside potential of a whopping 131.8%, showcasing what the stock has to offer to prospective investors.