12 Biggest Lithium Stocks to Buy According to Hedge Funds

5. EnerSys (NYSE:ENS)

Number of Hedge Fund Holders: 30

EnerSys (NYSE:ENS) is a global leader in stored energy solutions for a wide range of markets and industries. It manufactures batteries and energy storage systems for electric vehicles. The company is divided into four main divisions: Energy Systems, Motive Power, Specialty, and New Venture.

On January 17, Oppenheimer analysts upgraded EnerSys’ stock (NYSE:ENS) from Perform to Outperform, setting a new price target of $115. The upgrade indicates a positive outlook for a number of variables that influence the company’s performance. Oppenheimer analysts attribute the higher rating primarily to a more optimistic telecom capital expenditure forecast and greater clarity regarding management transitions. More specifically, the analysts believe that the company has the ability to implement its core growth strategies.

Last year, EnerSys (NYSE:ENS) announced plans to invest $500 million in a lithium-ion cell gigafactory in South Carolina to advance battery production in the United States. The facility, which is expected to come online in late 2027, will manufacture various types of lithium-ion cells for commercial, industrial, and defense applications, with a total production capacity of 4 gigawatt hours (GWh) per year. In addition, the company anticipates that the factory will provide independence from non-domestic cell suppliers.