In this article we discuss the 5 best battery stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to 10 Best Battery Stocks to Buy Now.
5. Livent Corporation (NYSE: LTHM)
No. of Hedge Fund Holders: 20
Ranking 5th on the list of 10 best battery stocks to buy now. Liven is another lithium play whose products include battery-grade lithium hydroxide, butyllithium and high purity lithium metal. Last year, the company extended its supply agreement with Tesla through the end of 2021. The company also bought stakes in the struggling Canadian company Nemaska Lithium.
The company is also getting the attention of the smart money, as 20 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the fourth quarter.
4. Plug Power Inc. (NASDAQ: PLUG)
No. of Hedge Fund Holders: 21
Plug Power ranks 4th on the list 10 best battery stocks to buy now. The New York-based company makes hydrogen fuel cell systems for telecommunications, transportation and utility sectors. Recently, J.P. Morgan upgraded the stock to Overweight from Neutral with a $65 price target. The firm said that PLUG has “many long-term growth opportunities.” The firm added that PLUG is a “story” stock with strong growth prospects.
As of the end of the fourth quarter, 21 hedge funds in Insider Monkey’s database of 887 funds held stakes in PLUG. D.E. Shaw is the biggest stakeholder in the company, with 15.4 million shares, worth $522.1 million.
3. Albemarle Corporation (NYSE: ALB)
No. of Hedge Fund Holders: 21
Albemarle ranks 3rd on the list of 10 best battery stocks to buy now. The company is the largest provider of lithium for electric vehicle batteries. Cowen recently gave bullish comments about Albemarle, adding that the lithium industry demands “focus” from investors. The firm said that the energy transition happening in the world is “real” as governments look to cut carbon emissions and increase electrification. For Albemarle, the firm set a $180 price target, and said that it sees an “underappreciated scale story” at a discounted valuation.
As of the end of the fourth quarter of 2020, Axel Capital Management owns 174,000 shares of ALB worth $25.7 million. ALB accounts for 8.34% of Axel Capital’s total portfolio.
2. Glencore plc (OTCMKTS: GLNCY)
No. of Hedge Fund Holders: N/A
Glencore is one of the best battery stocks to buy now as the commodities miner deals in cobalt that plays a key role in boosting energy density and battery life in lithium batteries. The Anglo-Swiss company swung to a profit in the second half of 2020 and said it will resume its dividend in 2021.
1. Global X Lithium & Battery Tech ETF (NYSE: LIT)
No. of Hedge Fund Holders: N/A
Global Lithium & Battery Tech ETFs is one of the best ways to gain exposure to the lithium market. The ETF invests in the complete lithium cycle, including lithium mining, processing and battery production. Some of the top holdings of this ETF include Tesla, Albemarle, BYD CO, LG Chem and GANFENG LITHIUM.
You can also take a peek at Cathie Wood’s Thoughts on the Future, ARK’s Portfolio and Latest Stock Picks and Billionaire Paul Tudor Jones’ Top 10 Stock Picks and Latest Portfolio.
