12 Biggest Lithium Stocks to Buy According to Hedge Funds

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9. Enovix Corporation (NASDAQ:ENVX)

Number of Hedge Fund Holders: 14

Enovix Corporation (NASDAQ:ENVX) is a market leader in advanced silicon-anode lithium-ion battery development and manufacturing. The company’s proprietary 3D cell architecture improves energy density while maintaining long cycle life. In several industries, including IoT devices, mobile phones, and electric vehicles, this puts the company at the top of its game.

With a non-GAAP EPS of $0.17, Enovix Corporation (NASDAQ:ENVX) reported outstanding results for the third quarter, exceeding forecasts by $0.03. The quarter’s revenue of $4.32 million exceeded projections by $0.21 million. The company also opened Fab2 in Malaysia and managed to secure a development agreement with a leading smartphone OEM for mass production launch in 2025.

On January 8, Enovix Corporation (NASDAQ:ENVX) announced that it had received a substantial pre-paid purchase order for a cutting-edge battery solution intended for next-generation wearables that use Mixed Reality (MR) from a notable player in immersive technologies. These batteries will be used to power smart glasses and augmented reality gadgets. According to the agreement, Enovix is expected to deliver the initial shipments by mid-2025.

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