#2 - Livent Corporation (NYSE:LTHM)
As its ticker symbol suggests, the next company on this list of battery stocks is also one that can help you profit from the demand for lithium. Livent Corporation (NYSE:LTHM) doesn’t make EV batteries but supplies “performance lithium compounds” for several applications, but most notably for the EV market. The U.S. based corporation has facilities in China, Argentina, India and Japan in addition to owning mines in Canada.
Like Albemarle, investors won’t be fretting about Livent’s balance sheet. The company is profitable and, also like Albemarle, has turned in three consecutive record quarters in terms of revenue. That demand is likely to continue considering that Livent counts Tesla among its largest customers.
LTHM stock is up 7% in 2022, but it seems to be getting held back by a high level of short interest. At the time of this writing, the stock was looking to find support around its 200-day simple moving average. If it can find that investors may be able to define a bottom for the stock.
About Livent
Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and butyllithium, which is used in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in non-rechargeable batteries and the production of lightweight materials for aerospace applications.
Read More - Current Price
- $16.51
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $23.19 (40.4% Upside)
