Enovix Stock (NASDAQ:ENVX), Trade Ideas

Enovix

Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.

jim-cramer_shutterstock2

ASPN

ENVX

LRCX

MRVL

RYTM

VALE

The &#34;Mad Money&#34; host recommended buying some Marvell Technology, and then wait until under $60 to buy the rest.

Jim Cramer Is &#39;Willing To Let This Pharma Stock Catch Fire,&#39; Advises Not To Sell McKesson

lithium-ion-battery-detail-2842400_1920

News

Movers

Enovix shares are trading higher Tuesday after the company announced that it hit new milestones for its Fab2 manufacturing facility that put it on track to start initial sample production in the second quarter. 

Enovix Stock Is Ripping Higher Tuesday: What&#39;s Going On?

Earnings

Enovix shares are trading lower Wednesday after the company reported mixed quarterly results and issued weak guidance.

What&#39;s Going On With Enovix Stock Wednesday?

Enovix Corp

SPWR

SunPower Adopts Restructuring Plan; Expects To Incur Restructuring Charges Totaling ~$28M

<p><a href="https://investors.liveramp.com/news-and-events/press-release-details/2024/Googles-Announcement-to-Delay-Cookieless-Timeline-2024-YMBryPaF7e/default.aspx">https://investors.liveramp.com/news-and-events/press-release-details/2024/Googles-Announcement-to-Delay-Cookieless-Timeline-2024-YMBryPaF7e/default.aspx</a></p>
<p>&nbsp;</p>
<p>Google&nbsp;<a href="https://privacysandbox.com/intl/en_us/news/update-on-the-plan-for-phase-out-of-third-party-cookies-on-chrome/">announced</a>&nbsp;that it is delaying its timeline for fully deprecating third-party cookies in Chrome from 2H 2024 until early 2025.&nbsp;</p>
<p>This delay does not change our strategy or market approach.&nbsp;LiveRamp is, and has been, prepared for the deprecation of third-party cookies for some time with the build out of our Authenticated Traffic Solution (ATS) and our investment in clean room technology to enable secure first-party data collaboration.&nbsp; We're ideally situated to help the industry — our partners, customers, and stakeholders — transition to cookieless solutions that are already outperforming cookies — today.&nbsp;</p>
<p>Please see <a href="https://liveramp.com/blog/120-days-to-prepare-for-chromes-deadline-why-marketers-should-embrace-cookieless-solutions-today/">this blog post</a> for additional discussion and details.&nbsp;</p>
<p>As always, we're available to answer any questions.&nbsp;</p>
<p>Best,</p>
<p>LiveRamp Investor Relations</p>


GOOG

GOOGL

RAMP

Google's Announcement To Delay Cookieless Timeline; LiveRamp Has Been Prepared For The Deprecation Of Third-Party Cookies For Some Time With The Build Out Of Our Authenticated Traffic Solution And Our Investment In Clean Room Technology To Enable Secure First-Party Data Collaboration

CORRECTION: Rogers Communications Q1 2024 Adj. EPS C$0.99, Inline, Sales C$4.90B Miss C$4.92B Estimate

WIIM

ATXI

Avenue Therapeutics shares are trading lower after the company announced a reverse stock split.

<p>Truist Securities  analyst Mark Hughes   maintains WR Berkley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>) with a Buy and lowers the price target from $95 to $93.</p>


Price Target

Analyst Ratings

Truist Securities Maintains Buy on WR Berkley, Lowers Price Target to $93

<p>DoorDash (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>), the local commerce platform, and Walgreens (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>), a trusted, neighborhood health destination serving nearly 10 million customers each day, today announced a new collaboration to offer SNAP/EBT payment at nearly 7,800 <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.doordash.com%2Fbusiness%2Fwalgreens-434024%2F&amp;esheet=53951735&amp;newsitemid=20240424416259&amp;lan=en-US&amp;anchor=Walgreens+stores&amp;index=1&amp;md5=7d828216c4546f32c5f0b2223e83f84f">Walgreens stores</a> across the country. DoorDash is the first platform that enables SNAP customers to make purchases directly from Walgreens using their SNAP/EBT cards. In addition, DoorDash is the first third-party delivery service provider (DSP) to offer SNAP/EBT as a payment option at a major drugstore nationwide.</p>
<p>This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240424416259/en/">https://www.businesswire.com/news/home/20240424416259/en/</a></p>
<p>&nbsp;</p>
<p>With the addition of Walgreens, DoorDash more than doubles the number of stores available for on-demand delivery with <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.doordash.com%2Fp%2Fsnap-ebt&amp;esheet=53951735&amp;newsitemid=20240424416259&amp;lan=en-US&amp;anchor=SNAP%2FEBT&amp;index=2&amp;md5=f41d03622e529faf6a95afd60c5514c9">SNAP/EBT</a> payments on DoorDash. We continue to broaden food access by offering SNAP/EBT access to more than 14 million people who are living in food deserts, and over 40 million people living in communities where over 1 in 10 households receive SNAP/EBT benefits.</p>
<p>"Since launching support for SNAP/EBT payments in 2023, over 1.1 million consumers have added their SNAP/EBT cards to DoorDash," said Fuad Hannon, VP of New Verticals. "This first-of-its-kind partnership with Walgreens offers convenient and critical access to food and pantry essentials for families and individuals across the country. We're proud to remove as many barriers as possible when it comes to connecting people with food, wherever they live and however they choose to shop."</p>
<p>As prices continue to rise on groceries and household essentials, consumers can order SNAP-eligible products using their SNAP benefits from their local Walgreens through DoorDash. Walgreens will offer more than 4,000 SNAP-eligible products for delivery within an hour on DoorDash.1 Whether it's stocking up on breakfast essentials including milk, oatmeal, or juice, or pantry staples such as nuts, bars, or snacks, consumers can shop the Walgreens marketplace directly on the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fapps.apple.com%2Fus%2Fapp%2Fdoordash-food-delivery%2Fid719972451&amp;esheet=53951735&amp;newsitemid=20240424416259&amp;lan=en-US&amp;anchor=DoorDash+app&amp;index=3&amp;md5=472113558ce6036972ad87c96c3db294">DoorDash app</a> to fulfill their grocery needs quickly and affordably.</p>
<p>"This collaboration with DoorDash means our shoppers can now get essential grocery items when they want, regardless of payment method and other barriers like work schedules and transportation," said Balachandra Visalatha, SVP, Chief Product Officer at Walgreens. "Walgreens is a go to destination for daily needs for our shoppers and we continue to find solutions that make their shopping experience simpler so they can get access to healthier food options."</p>
<p>DoorDash is one of the largest online marketplaces to offer SNAP/EBT recipients' access to grocery delivery across the country. Now, nearly all DoorDash's monthly active users have access to a SNAP store across all 50 states and Washington D.C. To further our commitment to increase access to food, DoorDash is excited to offer SNAP/EBT consumers, who are currently not DashPass subscribers, $0 delivery fee on up to 3 orders paid with SNAP at Walgreens.&#x2A; DashPass members can access thousands of restaurants, grocery, and convenience stores at affordable prices, with $0 delivery fees and reduced service fees on eligible orders. DashPass members save $5 per eligible order on average.</p>
<p>Currently, Walgreens stores accept SNAP/EBT in-person at most locations. This collaboration with DoorDash allows shoppers across the nation to use SNAP/EBT at any Walgreens, regardless of where they live.</p>


DASH

DoorDash And Walgreens Launch Unprecedented Access For SNAP Customers; DashPass Members Save $5 Per Eligible Order On Average

<p>Capitol Federal Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFFN#NASDAQ">CFFN</a>) reported quarterly earnings of $0.11 per share which met the analyst consensus estimate. This is unchanged from the same period last year.</p>


CFFN

Capitol Federal Finl Q2 EPS $0.11, Inline

<p><i>Mini Tractor and Mini 125 Go&nbsp;Kart to be Eligible for Sale in a Major U.S. Retailer in its 1,300 Stores Across 13 States</i></p>


MAMO

Massimo Group Expands Partnership With Global Omnichannel Retailer For Youth Series Vehicles

TPET

Trio Petroleum shares are trading higher after the company announced it commenced oil sales from its California assets.

Biotech

General

HSCS

HeartSciences Says European Patent Office Application EP3834729 Has Been Granted

<p><strong>2024 Fiscal Year Guidance</strong></p>
<p>The Company currently expects to achieve the following financial performance for the upcoming year ending December 31, 2024:</p>
<ul>
<li>Net sales to be between $1.36 billion and $1.56 billion.</li>
<li>GMV to be between $1.74 billion and $1.90 billion.</li>
<li>Gross profit to be between $154.6 million and $171.7 million.</li>
<li>Net loss to be between $42.8 million and $51.7 million.</li>
<li>Adjusted EBITDA to be between $(9.6) million and $0.2 million.</li>
</ul>
<p>The Company anticipates filing its annual report on Form 20-F for the fiscal year ended December 31, 2023, on April 24, 2024.</p>


Guidance

NEGG

Newegg Sees FY24 Revenue $1.36B-$1.56B

<p>Truist Securities  analyst David Macdonald   maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Hold and raises the price target from $145 to $150.</p>


Truist Securities Maintains Hold on Quest Diagnostics, Raises Price Target to $150

<p><i>The first living recipient of a UThymoKidney, in conjunction with a heart pump implant, is recovering after a successful transplant</i></p>
<p><i>This transplant builds on two successful UHeart transplants completed in 2022 and 2023</i></p>


UTHR

United Therapeutics Announces Xenothymokidney Transplant

BranchOut Food shares are trading higher after the company announced it has expanded its existing relationship with the nation's largest retailer, which brings the total annualized value of commitments from the retailer to over $8 million.

<p><strong>2023 Fiscal Year Financial Highlights</strong></p>
<ul>
<li>Net sales decreased to $1.50 billion, compared to net sales of $1.72 billion in fiscal year 2022.</li>
<li>GMV decreased to $1.81 billion, compared to GMV of $2.20 billion in fiscal year 2022.</li>
<li>Gross profit decreased to $167.6 million, compared to gross profit of $216.7 million in fiscal year 2022.</li>
<li>Net loss increased to $59.0 million, compared to net loss of $57.4 million in fiscal year 2022.</li>
<li>Adjusted EBITDA decreased to ($21.3) million, compared to Adjusted EBITDA of $0.6 million in fiscal year 2022.</li>
</ul>
<p><strong>2023 Fiscal Year Operational Metrics</strong></p>
<ul>
<li>Average order value was $379 for the year ended December 31, 2023, compared to $411 for the prior year.</li>
<li>Active customers, defined as unique customer IDs with at least one item purchased on Newegg platforms in the past 12 months, totaled approximately 2.5 million as of December 31, 2023, a decrease from 2.7 million the prior year.</li>
<li>Repeat purchase rate, the percentage of active customers who made at least two purchases on Newegg platforms during the past 12 months, was 29.2% as of December 31, 2023, compared to 31.3% for the prior year.</li>
</ul>


Newegg FY23 Revenue $1.5B Vs $1.72B YoY; Average Order Value Was $379 In FY23 Vs $411 In FY22

<p>Beleaguered EV maker <strong>Fisker Inc.</strong> said on Tuesday that it expects to seek <a href="https://www.benzinga.com/markets/equities/24/03/37766138/teslas-india-entry-hurdle-lifts-fisker-hurtling-toward-bankruptcy-rivian-gets-wall-streets-love-">protection under bankruptcy laws </a>within 30 days if unable to receive waivers from its debt holders or raise enough capital to settle its dues.  </p>
<p><strong>What Happened:</strong> The company is seeking to restructure its current debts and discussing financing alternatives, it said in a regulatory filing, while adding that there is no assurance it will be able to do either.</p>
<p>Additionally, the company will reduce its workforce and streamline its operations in a bid to cut costs, it added. &nbsp;</p>
<p>Fisker in February warned that it may not have enough funds to operate over the year. The company's shares were delisted from the New York Stock Exchange in March owing to low share prices and potential investment talks with a major automaker collapsed, leaving Fisker&#8217;s financial future uncertain.</p>
<p><strong>Why It Matters:</strong> Fisker&#8217;s cash balance dwindled from $736.5 million at the end of 2022 to $325.5 million by December 2023. The company&nbsp;<a href="https://www.benzinga.com/news/earnings/24/02/37407754/whats-going-on-with-fisker-stock-after-hours" target="_blank" rel="noreferrer noopener">reported a net loss</a>&nbsp;of $463.6 million and revenue of $200.1 million for the fourth quarter. Despite producing around 10,200 Ocean SUVs in 2023, Fisker only managed to deliver 4,929 vehicles during the year.&nbsp;</p>
<p>To address inventory and financing issues, Fisker initiated a six-week production pause in March. The company also announced price cuts of as much as $24,000 on its Ocean SUV last month to drive sales.</p>
<p>Fisker is not alone in its troubles. EV maker <strong>Canoo Inc.</strong> <a href="https://www.benzinga.com/news/earnings/24/04/38036342/ev-maker-canoos-stock-falls-on-mixed-q4-results">warned about its ability to continue as a going concern</a> without additional funding earlier this month. Lordstown Motors <a href="https://www.benzinga.com/news/23/06/33017879/lordstown-motors-files-for-bankruptcy-protection">filed for bankruptcy protection </a>last year. </p>
<p><em>Check out more of Benzinga's Future Of Mobility coverage by&nbsp;</em><a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener"><em>following this link</em></a>.</p>
<p><strong><em>Read More:</em></strong>&nbsp;<em><a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta">Tesla Will Solve Autonomy ‘Even If I Got Kidnapped By Aliens Tomorrow,' Says Elon Musk As He Reveals Talks With ‘Major Automaker' For FSD Licensing</a></em></p>
<p><em>Image Via Shutterstock</em></p>


Tech

Fisker To File For Bankruptcy Protection In 30 Days If Unable To Settle Debts Or Raise Capital

<p>Canaccord Genuity  analyst Maria Ripps   maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $330 to $370.</p>


SPOT

Canaccord Genuity Maintains Buy on Spotify Technology, Raises Price Target to $370

CAPR

Capricor Therapeutics Announces Type-B Meeting With FDA For CAP-1002 Program For Duchenne Muscular Dystrophy, FDA Feedback Supports Requests For Pre-BLA Meeting And Subsequent Rolling BLA Submission Following Upcoming Q2 Type-B FDA Meeting

<p>Truist Securities  analyst Michael Swartz   maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Hold and lowers the price target from $96 to $92.</p>


Truist Securities Maintains Hold on Polaris, Lowers Price Target to $92

<p>Canadian Pacific Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) reported quarterly earnings of $0.93 per share which missed the analyst consensus estimate of $0.94 by 1.06 percent.  The company reported quarterly sales of $3.52 billion which missed the analyst consensus estimate of $3.54 billion by 0.52 percent.  This is a 110.02 percent increase over sales of $1.68 billion the same period last year.</p>


Earnings Misses

Canadian Pacific Railway Q1 2024 Adj EPS CAD$0.93 Misses CAD$0.94 Estimate, Sales CAD$3.52B Miss CAD$3.54B Estimate

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>There are some <a href="https://investorplace.com/industries/industrial/">industrial stocks</a> that short sellers are targeting heavily in April this year. Short sellers often target stocks they perceive to be overvalued or companies facing significant challenges or headwinds. By short selling, they stand to profit if the stock price drops as they can buy back the borrowed shares at a lower cost than what they sold them for initially. Thus, a high short interest can be both a warning sign and an opportunity, depending if you own or want to sell shares.</p>



<p>The industrial sector can be ripe for short sellers due to the cyclical nature of the sector. When the economy is going strong, these companies do well, and vice-versa. The issue arises when the market turns pessimistic, which can turn slight weaknesses of companies into reasons to dump the stock. Shorts can also target companies for other reasons, including poor fundamentals, high debt load or a bleak outlook for future performance, among others.</p>



<p>So here are three industrial stocks that short sellers are targeting heavily.</p>



<h2>Purecycle Technologies (PCT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/recycle-1600-300x169.png" alt="Bins are filled with various recyclibles, including cardboard, glass, and plastic"><div>Source: Rawpixel.com / Shutterstock</div></div><p><strong>Purecycle Technologies</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/pct-stock-quote/"><strong>PCT</strong></a>) is focused on recycling polypropylene into virgin-like resin. The environmental services and equipment company has attracted short sellers, possibly due to doubts about its technology&rsquo;s scalability or environmental impact.</p>



<p>Aside from these broader issues, <a href="https://ca.finance.yahoo.com/news/scheduled-operational-pause-ironton-purification-204500635.html">PCT has undergone an &ldquo;operational pause&rdquo;</a> this week with the CEO stating, &ldquo;This pause will allow us to make improvements to our flagship facility based off what we learned during operations over the last three months. It&rsquo;s those improvements that should help take us into the next phase of production.&rdquo;</p>



<p>PCT <a href="https://stockanalysis.com/stocks/pct/statistics/">is currently pre-revenue</a>, and 43.12% of its total share float has been sold short at the time of writing. There are other cracks in PCT&rsquo;s fundamentals. They include a high debt load and a net cash position of &mdash; $396.48 million or &mdash; $2.41 per share.</p>



<p>Troublingly, it burnt through $248.81 million within the last 12 months. It needs to double its cash and cash equivalents of $147.33 to stay solvent. Otherwise, it must either dilute shareholders to add to its growing pile of debt.&nbsp;</p>



<h2>Enovix (ENVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/ev-batteries-mmat1600-300x169.png" alt="Electric car lithium battery pack and power connections. MMAT stock. Battery Stocks"><div>Source: asharkyu / Shutterstock.com</div></div><p><strong>Enovix</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/envx-stock-quote/"><strong>ENVX</strong></a>) specializes in the development and manufacture of advanced lithium-ion batteries. At the time of this writing, around 27.18% of its total float is being sold short.</p>



<p>In 2023, ENVX <a href="https://stockanalysis.com/stocks/envx/statistics/">reported a significant year-over-year revenue increase</a>, reaching $7.4 million in the fourth quarter, up from $1.1 million in Q4 2022. Despite this revenue growth, the company experienced a net loss of $59.98 million in Q4, reflecting the costs associated with scaling operations.</p>



<p>For 2024, ENVX projects Q1 revenue to be between $3.5 million and $4.5 million, with an adjusted EBITDA loss of $24 million to $31 million.&nbsp;</p>



<p>Some concerns are brewing on the horizon for ENVX in terms of its financials. For one, it already has over 150 million shares outstanding. This may be an issue, as it has only around two years of cash and equivalents on its balance sheet if it maintains its same level of cash burn. Additionally, share dilution is possible, or it could add to its debt pile of $117 million.</p>



<h2>Zynex (ZYXI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/medical-biotech-stocks1600-300x169.png" alt="Healthcare business graph data and growth, Medical examination and doctor analyzing medical report network connection on tablet screen. VANI stock"><div>Source: PopTika / Shutterstock.com</div></div><p><strong>Zynex</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/zyxi-stock-quote/"><strong>ZYXI</strong></a>) is an advanced medical equipment and technology company known for developing noninvasive devices for pain management and rehabilitation.</p>



<p>ZYXI <a href="https://zynexmed.investorroom.com/2024-02-29-Zynex-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-Results">reported significant growth</a> in its 2023 fiscal year, achieving a 17% increase in revenue to $184.3 million. For 2024, ZYXI has set ambitious targets, aiming for approximately 23% growth in total revenue, reaching around $227 million.</p>



<p>Manufacturers like ZYXI are considered industrials since they experience boom and bust cycles like the wider economy. Like others on this list, the <a href="https://stockanalysis.com/stocks/zyxi/statistics/">prospects for ZYXI are bleak</a>, according to the bears. They have sold 36.67% of its float short.</p>



<p>It should be noted that this reduction of <a href="https://www.defenseworld.net/2024/04/01/denali-advisors-llc-sells-42700-shares-of-zynex-inc-nasdaqzyxi.html">shares coincided with a reduction</a> of one of its investor&rsquo;s holdings on Apr. 1. This may very well be coincidental.</p>



<p>Regardless, ZYXI&rsquo;s issue could come from shares of it being overvalued. Its P/E ratio for instance, is 46 times earnings. It also had $18 million in EBITDA from $184 million in revenue over the last 12 months. The market could surmise that its valuation must come back down to earth. The company&rsquo;s stock price has increased around 15% year to date.</p>



<p><em>On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em> </em>InvestorPlace.com Publishing Guidelines</a>.</p>
<div><p>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/3-industrial-stocks-short-sellers-are-hammering-cracks-in-the-foundation/">3 Industrial Stocks Short Sellers Are Hammering: Cracks in the Foundation?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Industrial Stocks Short Sellers Are Hammering: Cracks in the Foundation?

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>I&rsquo;ve noticed a sense of negativity surrounding <a href="https://investorplace.com/industries/energy/renewable-energy/battery/">battery stocks</a> lately. The general narrative is that battery prices will decrease in time, leading to lower manufacturing profitability.</p>



<p>This narrative is somewhat misinterpreted. Although battery prices might taper, so will manufacturing costs. Moreover, lower battery prices will stimulate demand, lending producers the necessary latitude to achieve economies of scale. As such, lower battery prices can add productivity to the battery manufacturing industry instead of detracting from it.</p>



<p>With the aforementioned in mind, I screened for best-in-class battery stocks by implementing a robust screening methodology, including strict quantitative and qualitative criteria. Sure, I encountered a lot of froth, but I was able to discover numerous high-quality assets.</p>



<p>Here are three undervalued battery stocks to consider in April.</p>



<h2>QuantumScape (QS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/solid-state-battery-qs1600-300x169.png" alt="Solid-state battery pack design for electric vehicle (EV) concept, new research and development batteries with solid electrolyte energy storage for future car industry, 3d Illustration. forever battery"><div>Source: JLStock / Shutterstock.com</div></div><p><strong>QuantumScape</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/qs-stock-quote/"><strong>QS</strong></a></span>) stock fell off a cliff after <strong>Tesla</strong>&lsquo;s (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>) <a href="https://seekingalpha.com/news/4086334-electric-vehicle-stocks-slide-after-tesla-deliveries-stunner">first-quarter</a> deliveries report fell short of expectations. The stock declined by nearly 4% after the news broke, resulting in a cumulative year-over-year drawdown north of 25%. However, the good news is that QS stock&rsquo;s decline has opened up a value gap. </p>



<p>For those unaware, QuantumScape has yet to achieve revenue. However, its first commercial batch of solid-state commercial batteries is set to ship this year. It&rsquo;s forecasted that QuantumScape will realize <a href="https://www.fool.com/investing/2024/01/06/where-will-quantumscape-stock-be-in-5-years/">$14 million</a> in revenue for 2024 and scale up to $6.44 billion by 2028. Even though nothing is guaranteed in life, the company&rsquo;s offtake pipeline is highly touted by leading auto manufacturers such as <strong>Volkswagen</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/vwagy-stock-quote/"><strong>VWAGY</strong></a></span>), which recently completed a successful battery test.</p>



<p>Placing a valuation on QS stock is subjective as it has yet to deliver tangible financial results. However, a forecasted revenue figure of $14 million could coalesce with its $2.9 billion market capitalization to produce a price-to-sales figure of around 209x. I&rsquo;m aware that its initial price-to-sales ratio is high but consider its 3.63x implied growth rate.</p>



<p>QS stock is a steady value-added opportunity!</p>



<h2>Plug Power (PLUG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/plug1600-4-300x169.png" alt="Person holding smartphone with website of US hydrogen fuel cell company Plug Power Inc. on screen with logo. Focus on center of phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><p>If you&rsquo;re looking for a recovery play, you&rsquo;ve got one right here, as <strong>Plug Power</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/plug-stock-quote/"><strong>PLUG</strong></a></span>) stock embodies unjustified negative sentiment. </p>



<p>In my view, Plug Power&rsquo;s focal point is its outlook. Before its fourth-quarter results, investors labeled it a going concern risk. However, matters have finally been put into perspective. </p>



<p>The company&rsquo;s losses widened to <a href="https://seekingalpha.com/news/4074538-plug-power-sees-no-more-going-concern-issue-but-stock-sinks-as-losses-widen">$1.37 billion</a> in its fourth quarter, but the interpretation of its losses is critical. Most of Plug Power&rsquo;s income statement pressure stems from its &ldquo;growth and expansion&rdquo; reinvestment roadmap. Moreover, Plug Power incurred an accrual-based asset write-down of $325 million in its previous quarter, primarily driven by market-based factors.</p>



<p>Okay, Steve, an accounting loss still presents concerns; what&rsquo;s your point? My point is that Plug Power&rsquo;s fourth-quarter revenue grew by 27% year-over-year to $891.3 million, illustrating its secular growth. Furthermore, a pending interest rate pivot paired with improved market dynamics can alter its accrual-based results, leading to a better picture overall. </p>



<p>In essence, Plug Power can shift gears at any stage and phase out its margin compression.</p>



<p>Lastly, key metrics suggest PLUG stock is undervalued. For example, its price-to-sales ratio of 2.95x is below its cyclical average of 45.52x. Additionally, PLUG stock is trading below its 10-, 50-, 100-, and 200-day <a href="https://seekingalpha.com/news/4074977-plug-power-surges-to-top-industrial-gainer-of-week-first-advantage-sees-loser-tag">moving averages</a>, suggesting a contrarian opportunity exists.</p>



<h2>Enovix (ENVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/08/ev-battery-300x169.jpg" alt="A hand holds an electric vehicle battery charger up to a car."><div>Source: Shutterstock</div></div><p><strong>Enovix</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/envx-stock-quote/" target="_blank"><strong>ENVX</strong></a>), a lithium-ion battery manufacturer, is the final asset on today&rsquo;s list. While Enovix still has much to prove, recent events suggest the company&rsquo;s prospects are bright. In addition, Enovix stock&rsquo;s key metrics indicate that its stock is undervalued.</p>



<p>Let&rsquo;s discuss Enovix&rsquo;s prospects in more detail.</p>



<p>Unlike other entry-level lithium battery manufacturers, Enovix has engaged in a rapid expansion plan. As an example, Enovix recently announced a plan to establish a&nbsp;<a href="https://seekingalpha.com/news/4037705-enovix-to-build-12b-manufacturing-plant-in-malaysia-government-says" target="_blank">$1.2 billion</a>&nbsp;manufacturing plant in Malaysia, providing it with scale and diversified midstream opportunities. Furthermore, at the tail end of last year, Enovix <a href="https://ir.enovix.com/news-releases/news-release-details/enovix-completes-acquisition-routejade">acquired</a> Korean battery manufacturer Routejade, phasing in secular growth prospects and potential cost-saving synergies.</p>



<p>In more recent news, Enovix delivered its fourth-quarter results last month, revealing solid results. Enovix&rsquo;s fourth-quarter revenue settled at&nbsp;<a href="https://seekingalpha.com/news/4069201-enovix-gaap-eps-of-0_28-beats-0_08-revenue-of-7_4m-beats-3_98m" target="_blank">$7.4 million</a>, 7.43x higher than a year ago. Moreover, Enovix&rsquo;s fourth-quarter earnings surpassed estimated by 8 cents per share.</p>



<p>Despite possessing an elevated price-to-sales ratio of&nbsp;<a target="_blank" href="https://seekingalpha.com/symbol/ENVX/valuation/metrics">158.15x</a>, keep in mind that Enovix&rsquo;s growth is astronomical. Additionally, ENVX stock&rsquo;s price-to-book ratio of 4.93x is about 68% below its normalized average.</p>



<p>ENVX stock is an overvalued growth-at-a-reasonable (GARP) stock!</p>



<p><em>On the date of publication, Steve Booyens did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a></em>.</p>
<div><p>Steve Booyens co-founded Pearl Gray Equity and Research in 2020 and has been responsible for institutional equity research and PR ever since. Before founding the firm, Steve spent time working in various finance roles in London and South Africa. He holds an MSc in Investment Banking from Queen Mary &ndash; University of London. Furthermore, Steve has passed CFA Levels 1 &amp; 2 and is working toward his Ph.D. in Finance. His articles are published on various reputable web pages such as Seeking Alpha, TipRanks, Yahoo Finance, and Benzinga. Steve&rsquo;s articles on InvestorPlace form an interesting juxtaposition between mainstream opinion and objective theory. Readers can expect coverage on frequently traded stocks, REITs, fixed-income funds, CEFs, and ETFs.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/the-3-most-undervalued-battery-stocks-to-buy-in-april-2024/">The 3 Most Undervalued Battery Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

The 3 Most Undervalued Battery Stocks to Buy in April 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>If you&rsquo;re after a list of information technology (<span>IT</span>) stocks short sellers are targeting, then one should study this article carefully. IT stocks have been facing some headwinds recently, with valuations that appeared stretched even as the broader markets have been volatile. This combination of lofty valuations and market turbulence has made holding many IT names a risky proposition for investors.</p>



<p>I also think that the opportunity cost of being heavily invested in IT has also been a consideration. There are some truly great companies in the tech space that could be strong outperformers for the next decade, so why hold on to struggling non-performers or speculative moonshots?</p>



<p>The tech sector could be due to trim some of the fat it has accumulated over the past year due to the massive rise of <a href="https://investorplace.com/industries/technology/">tech stocks</a>. This could be considered a reckoning by many. However, some are more risky than others.</p>



<p>So here are three IT stocks short sellers are targeting that have the highest short interest. They also have the most pessimistic backdrops at the time of writing.</p>



<h2>Enovix (ENVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600e-300x169.jpg" alt="a lithium ion battery"><div>Source: Olivier Le Moal/ShutterStock.com</div></div><p><strong>Enovix</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/envx-stock-quote/"><strong>ENVX</strong></a></span>) is prominent in the technology sector, focusing on the development and manufacturing of advanced silicon-anode lithium-ion batteries. It&rsquo;s using an unconventional approach for their production, but I feel its shaky fundamentals could be courting the attention of shorts, with 27.18% of its float sold short.</p>



<p>Not everything was bleak for ENVX in the short term. It reported a <a href="https://finance.yahoo.com/news/enovix-corp-envx-reports-strong-000407851.html">significant revenue increase</a> for the fourth quarter of 2023, with figures reaching $7.4 million, up from $1.1 million in the same period the previous year. Progress in scaling operations accounts for this growth.</p>



<p>However, ENVX anticipates a revenue projection between $3.5 million and $4.5 million for the first quarter of 2024, alongside an adjusted EBITDA loss of $24 million to $31 million.</p>



<p>There have been some pretty speculative forecasts for when ENVX will reach breakeven profitability. Some analysts suggest its earnings per share (<span>EPS</span>) will be positive sometime in FY2027. Yet this also implies a massive top-line surge from $22.68 million to $773.24 million to get there. Scaling to this amount of revenue will be no small feat.</p>



<h2>PetMed Express (PETS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/pets-1600-300x169.png" alt="Group of pets posing around a border collie; dog, cat, ferret, rabbit, bird, fish, rodent"><div>Source: Eric Isselee / Shutterstock</div></div><p><strong>PetMed Express</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/pets-stock-quote/"><strong>PETS</strong></a>) operates as an online pet pharmacy offering a range of prescription and non-prescription pet medications. 29.50% of its total floated shares are sold short, with a substantial portion of the market betting against it in the short term.</p>



<p>PETS has been caught up in a bit of drama recently. PETS reported a year-over-year increase in net sales of 11% for the quarter ended Dec. 31, 2023, reaching $65.3 million. The PetCareRx acquisition partly accounts for this growth. The gross profit for the same period was expected to be $17.9 million with a gross margin of 27.4%, an improvement from the previous year.&nbsp;</p>



<p>However, PETS also <a href="https://www.stocktitan.net/news/PETS/pet-med-express-receives-notification-of-deficiency-from-nasdaq-61emgxea3jn5.html">announced it would restate</a> certain financial statements due to accounting errors, particularly in tax-related entries and the valuation of assets related to PetCareRx.</p>



<p>The market seems to be betting those financials are not as attractive as the Street likes., The large bet placed on negative results coming true seems warranted.</p>



<h2>C3.ai (AI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/artificial-intelligence-ai-green-1600-300x169.jpg" alt='Graphic of letters "AI" on green techy digital-display background with square pixels spelling out the letters, symbolizing artificial intelligence and AI stocks'><div>Source: shutterstock.com/Victor Runov</div></div><p><strong>C3.ai </strong>(NYSE:<a href="https://investorplace.com/stock-quotes/ai-stock-quote/"><strong>AI</strong></a>) specializes in enterprise AI applications. It was once extensively covered by analysts as one of the hottest <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a> on the market. Today it seems that people&rsquo;s sentiment has shifted over the past 12 months. Investors sold short 29.78% of its total float at the time of writing.</p>



<p>For the fiscal year 2024, AI stock has <a href="https://c3.ai/c3-ai-announces-third-quarter-fiscal-2024-financial-results/">provided revenue guidance</a> ranging from $306 million to $310 million, with an anticipated non-GAAP loss from operations between $115 million to $123 million.&nbsp;</p>



<p>Despite these optimistic projections, AI stock has experienced challenges such as insider stock sales and tepid optimism among analysts. For example, key executives dumped 61,931 shares of the company within the last six months. It also currently has an analyst consensus rating of &ldquo;Hold.&rdquo;</p>



<p>There are also some other concerns regarding its valuation and share dilution concerns. It lost 78.82% of its value over the past five years but increased around 8% over the past 12 months. Although it has no debt and a robust balance sheet, it may choose to continue to issue shares in its stock-based compensation model or as a means to reach profitability. That would further the bear case for AI stock.</p>



<p><em>On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/3-it-stocks-on-short-sellers-radar-is-a-tech-reckoning-imminent/">3 IT Stocks on Short Sellers&#8217; Radar: Is a Tech Reckoning Imminent </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 IT Stocks on Short Sellers' Radar: Is a Tech Reckoning Imminent

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><a href="https://investorplace.com/industries/energy/renewable-energy/battery/">Battery stocks</a> are at a critical juncture. Due to the current oversupply and demand dynamics, core metals lithium, cobalt, and nickel prices have fallen to multi-year lows. Moreover, Goldman Sachs projects a massive downtrend in cobalt, nickel, and lithium carbonate over the next 12 months.</p>



<p>Nevertheless, the long-term outlook for battery stocks remains highly compelling, which makes the current downturn a temporary, manageable setback. Furthermore, according to Inkwood Research, the global battery market is on the brink of a massive breakout, expected to grow at a CAGR of 16.68%&nbsp;<a href="https://inkwoodresearch.com/reports/battery-market/" target="_blank">from 2022 to 2030</a>, reaching $423.90 billion by 2030. For investors, this scenario presents a strategic entry point into battery stocks, promising robust returns as the market rebounds and continues expanding. With that said, here are three battery stocks that boast excellent long-term potential and &lsquo;strong buy&rsquo; consensus analyst ratings.</p>



<h2>Battery Stocks: Panasonic (PCRFY)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2018/07/PCRFYmsn-compressor-300x165.jpg" alt="10 Lithium Stocks to Buy Despite the Market's Irrationality"><div>Source: Shutterstock</div></div><p><strong>Panasonic&rsquo;s</strong>&nbsp;(OTCMKTS:<a target="_blank" href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/"><strong>PCRFY</strong></a>) pioneering role in developing battery technology makes it a no-brainer pick for niche investors. However, it&rsquo;s a lot more than just a battery producer. Panasonic&rsquo;s diverse electronics portfolio spanning multiple sectors helps effectively balance out segment losses.</p>



<p>Moreover, its battery business, while synonymous with its partnership with&nbsp;<strong>Tesla</strong>&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a>), has recently expanded through collaborations with other automotive giants such as&nbsp;<strong>Mazda</strong>&nbsp;(OTCMKTS:<a target="_blank" href="https://investorplace.com/stock-quotes/mzday-stock-quote/"><strong>MZDAY</strong></a>) and&nbsp;<strong>Toyota&nbsp;</strong>(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/tm-stock-quote/"><strong>TM</strong></a>).</p>



<p>Though the battery market is under duress, Panasonic&rsquo;s diversity of operations allows the firm to continue pursuing plans for long-term expansion. It aims to&nbsp;<a target="_blank" href="https://www.reuters.com/business/autos-transportation/panasonic-needs-four-more-ev-battery-plants-meet-capacity-target-executive-says-2023-07-03/">boost capacity</a>&nbsp;to 200 GWh by 2031, which implies quadrupling capacity compared to last year.&nbsp;</p>



<p>Additionally, it&rsquo;s on silicon-based technology, which could enable a 500-mile EV range and 10-minute charge refills. Layer that up with its&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Technology/Panasonic-to-produce-solid-state-battery-for-drones-by-2029">solid-state battery initiative</a>&nbsp;to power factory robots and drones, and you have a battery stock that boasts tremendous growth potential.</p>



<h2>Enovix (ENVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/solid-state-battery-qs1600-300x169.png" alt="Solid-state battery pack design for electric vehicle (EV) concept, new research and development batteries with solid electrolyte energy storage for future car industry, 3d Illustration. forever battery"><div>Source: JLStock / Shutterstock.com</div></div><p>Up-and-coming lithium-ion battery producer<strong> Enovix</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/envx-stock-quote/" target="_blank"><strong>ENVX</strong></a>) is among a select few in its niche for its fast-paced innovation. It&rsquo;s looking to pioneer silicon-based lithium-ion battery technology, positioning it for robust sustainability, efficiency, and cost-effectiveness.<br>Moreover, it&rsquo;s looking to shift gears from its research-heavy roots and broaden its horizons, targeting multiple sectors, including EVs, wearable tech, and smartphones, with its innovative technology. Some of its recent achievements include an <a href="https://www.med-technews.com/news/medtech-materials-and-assembly-news/enovis-batteries-use-in-accurate-s-multi-vital-signs-monitor/">FDA-approved vital sign monitor</a> and the supply of custom batteries for wearables to the U.S. Army.</p>



<p>Additionally, it is set to build a massive $1.2 billion plant in Malaysia to scale its operations. Therefore, with several positives to its name, <a href="https://www.tipranks.com/stocks/envx/forecast">ENVX stock is a &lsquo;strong buy&rsquo;</a> with a 316% upside ahead. Though it trades at a lofty 4.90 times trailing-twelve-month (<span>TTM</span>) its book value, its spectacular long-term growth trajectory positions it for a robust upside ahead.</p>



<h2>EnerSys (ENS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/ev-stocks-ev-battery-300x169.png" alt="An image of the inside the hood of a car. XPON Stock. battery stocks to buy"><div>Source: Sergii Chernov / Shutterstock.com</div></div><p>Once a modest player in&nbsp;<a target="_blank" href="https://investor.enersys.com/static-files/7964ad43-fad4-4a5c-9098-6d6cddbd81ce">the flooded lead-acid battery market</a>, EnerSys has become a global titan in energy storage solutions, serving giants in renewables, telecom, and more. With a massive clientele of over 10,000 worldwide, the company is a pioneer in providing comprehensive energy systems, including motive power batteries and specialized battery accessories.</p>



<p>Despite the slowdown in its batteries business, the company boasts incredible profitability metrics, with double-digit free-cash-flow (<span>FCF</span>) and EBITDA (<span>TTM</span>) margins.&nbsp; Its FCF, in particular, is at 11%, beating the sector median and&nbsp;<a href="https://seekingalpha.com/symbol/ENS/profitability" target="_blank">its 5-year average by 71%</a>&nbsp;and 215%, respectively.</p>



<p>Furthermore, EnerSys plans to expand its U.S. manufacturing to Greenville, South Carolina, boosted by a $200 million Inflation Reduction Act incentive. Also, its agreement with the European&nbsp;<a target="_blank" href="https://investor.enersys.com/news-releases/news-release-details/enersys-and-verkor-partner-explore-development-lithium-ion">battery tech player</a>&nbsp;in&nbsp;<strong>Verkor</strong>&nbsp;should help advance its goal of gaining independence from non-domestic suppliers. Hence, with so much to look forward to, EnerSys is one of the top dependable battery stocks, promising robust growth and innovation.</p>



<p><em>On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a></em>.</p>
<div><p>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/wall-street-favorites-3-battery-stocks-with-strong-buy-ratings-for-april-2024/">Wall Street Favorites: 3 Battery Stocks With Strong Buy Ratings for April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Wall Street Favorites: 3 Battery Stocks With Strong Buy Ratings for April 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><a href="https://investorplace.com/stock-types/penny-stocks/">Penny stocks</a> and pharmaceutical stocks are highly interrelated. Both asset classes are speculative in nature and many of the highest potential penny stocks tend to exist in the pharma sector. The reason is simple: returns for successfully developing a therapeutic drug or medical device are very high but the chances of failure are also very high. It&rsquo;s also very easy to find pharma penny stocks that can double. It&rsquo;s more difficult to identify non-pharma penny stocks that can double.</p>



<p>Yet, that is the focus of this article. We will be discussing shares of non-pharma penny stocks priced below $10 with the potential to double.</p>



<p>Per usual, only invest in penny stocks what you could comfortably lose. While they have the potential to produce outsized returns they&rsquo;re also notorious for producing losses.</p>



<p>Here are seven non-pharma penny stocks for investors to consider buying.</p>



<h2>VinFast Auto (VFS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/chinese-ev-stocks1600-300x169.png" alt="EvCard charging station. EvCard is China's first electric vehicle rental service. As of July 2017, it had around 6,000 cars and 3,000 stations in Shanghai. Chinese EV stocks"><div>Source: abolukbas / Shutterstock.com</div></div><p><strong>VinFast Auto</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/vfs-stock-quote/"><strong>VFS</strong></a></span>) is one of the lesser-discussed <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> but one worth considering for its potential and unique story. The company is the first Vietnamese automobile manufacturing company.&nbsp;</p>



<p>That&rsquo;s important because domestic automobile manufacturing is an important step in bringing a given country to the world stage. That&rsquo;s what makes VinFast an interesting story. Vietnam is quickly rising to the world stage as it becomes part of a China de-risking strategy in relation to supply chains.</p>



<p>The company is working to establish itself as the EV manufacturer of choice in the fast-growing southeast Asia region. The company is also expanding its network into the Philippines at present with a plan to expand to more than 50 countries this year.&nbsp;It&rsquo;s one of those non-pharma penny stocks.</p>



<p>Sales and deliveries are growing quickly but did come in<a href="https://seekingalpha.com/news/4055935-vinfast-auto-falls-short-of-2023-deliveries-target"> below guidance</a>. It is expected that the stock will more than double and perhaps triple as the sector rebounds. such a performance will be predicated upon better deliveries figures moving forward.&nbsp;</p>



<h2>Archer Aviation (ACHR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/11/achr1600-3-300x169.png" alt="Person holding mobile phone with web page of US eVTOL aircraft company Archer Aviation Inc. (ACHR) on screen with logo. Focus on center of phone display. Unmodified photo. Archer Aviation Stock Analysis"><div>Source: T. Schneider / Shutterstock.com</div></div><p><strong>Archer Aviation</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/achr-stock-quote/"><strong>ACHR</strong></a></span>) Continues to make strides and is likely to become one of the top, if not the top, flying car firm. Thus, its stock is one to watch and one that is expected by many to double in price.The company continues to head toward FAA certification and a commercial launch in 2025.&nbsp;</p>



<p>The company is also expected to complete a high-volume <a href="https://finance.yahoo.com/news/archer-aviation-inc-achr-reports-213349551.html">manufacturing facility this year</a>. It is expected that the company will produce 650 Vehicles annually beginning in 2025. Meanwhile, Archer Aviation boasts an order book valued at $3.5 billion dollars. It includes orders for 700 of its eVTOL vehicles.&nbsp;</p>



<p>The company simply has to continue its test flights in order to certify those vehicles. Then it has to fulfill those orders. Flying cars are going to represent&nbsp; a burgeoning growth opportunity in the coming years and will play an important part in commercial aviation among other sectors.&nbsp;</p>



<h2>Lithium Americas (LAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div><p><strong>Lithium Americas</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/lac-stock-quote/"><strong>LAC</strong></a></span>) stock continues to flourish after a long period of skepticism connected to the decline in lithium prices. It&rsquo;s been about two months since LAC shares fell below $4. They&rsquo;ve rebounded from that bottom rising above $7 as I write this article.</p>



<p>There are likely a few reasons for that strong rebound to have occurred. One of the most important is the fact that Lithium Americas <a href="https://lithiumamericas.com/news/news-details/2024/Lithium-Americas-Receives-Conditional-Commitment-for-2.26-Billion-ATVM-Loan-from-the-U.S.-DOE-for-Construction-of-Thacker-Pass/default.aspx">received a $2.26 billion dollar loan</a> from the Department of Energy for the construction of its Thacker Pass site. However, that happened one month ago and thus cannot fully explain the run-up in price over the past two months.</p>



<p>My guess is that investors are simply coming to the realization that the long-term growth of the EV industry implies a rebound in lithium prices over the midterm. lithium Americas is expected to begin production within that time frame. Yes, it is an upstart but it is not at risk of failure given its funding. This makes it one of those non-pharma penny stocks to consider.</p>



<h2>Enovix (ENVX)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/02/shutterstock_1048927511-scaled-e1677265445318.jpg"><img width="300" height="188" src="https://investorplace.com/wp-content/uploads/2023/02/shutterstock_1048927511-scaled-e1677265445318-300x188.jpg" alt="Energy Storage. battery stocks"></a><p><strong>Enovix</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/envx-stock-quote/"><strong>ENVX</strong></a></span>) Is another firm with connections to the EV sector. The stock represents a lithium battery producer that is rapidly improving its fundamental business. it deserves a look from investors seeking non-pharma penny stocks that are set to double.</p>



<p>The company is currently in growth mode. That truth is evidenced by its most recent earnings report. It shows that the company&rsquo;s<a href="https://ir.enovix.com/static-files/e17f9670-8dd1-4691-b34b-091ff5fba2a8"> revenues increased from $1.1 million during the 4th quarter of 2022 to $7.4 million </a>a year later. A lot of that growth was attributable to its acquisition of Routejade&nbsp; in late 2023 as well as a strong business with The U.S. Army.</p>



<p>Investors should expect the company to continue to expand. The company built out 250,000 ft of its high capacity manufacturing plant in Malaysia.The company is expected to produce its first battery samples from that plant this month. Shares currently trade for between $7 and $8 a piece. Some estimates <a href="https://stockanalysis.com/stocks/envx/forecast/">expect that those shares could rise to $36 in value</a> over the coming year and a half.&nbsp;</p>



<h2>Planet Labs (PL)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/10/shutterstock_1034855800-300x169.png" alt="A photo of a satellite over earth."><div>Source: AlexLMX / Shutterstock</div></div><p><strong>Planet Labs</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/pl-stock-quote/"><strong>PL</strong></a></span>) benefits from multiple opportunities in the coming years. It is a company and stock that is positioned to grow as the space race heats up. The company is wholly focused on satellite imagery.</p>



<p>It wouldn&rsquo;t be fair to describe the company as stable but there are some things to truly appreciate about it. Planet Labs operates without debt. That means the company has a distinct advantage in this high rate environment. However, Planet Labs is burning through cash at a fairly rapid rate. in time that could necessitate additional moves that could include debt financing. For now, that isn&rsquo;t the case.</p>



<p>The company also benefits from a strong relationship with the defense sector and recently secured a contract with the U.S. Navy. The company will assist with monitoring throughout the Pacific ocean. There is an obvious and continuing opportunity there in relation to the ongoing rivalry between the U.S. and China. That is part of the bigger narrative that supports an investment in Planet Labs.</p>



<h2>LanzaTech Global (LNZA)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/penny-stocks-1600-300x169.jpg" alt="A concept image of a penny sitting on a stock chart"><div>Source: Billion Photos / Shutterstock.com</div></div><p><strong>LanzaTech Global</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/lnza-stock-quote/"><strong>LNZA</strong></a></span>) is a company that turns waste carbon into the basic materials used in consumer goods such as sustainable fuels, fabrics, and packaging. Shares currently trade for $3 and are expected to <a href="https://stockanalysis.com/stocks/lnza/forecast/">rise to $7 per consensus opinion</a>.&nbsp;</p>



<p>The company has been selected by the department of energy to receive $200 million dollars in funding. LanzaTech Global was selected by the DoE along with Technip Energies to receive that award in connection to the Inflation Reduction Act (IRA).The two companies will<a href="https://www.globenewswire.com/news-release/2024/03/25/2851893/0/en/Technip-Energies-and-LanzaTech-Selected-by-the-US-Department-of-Energy-to-Receive-200M-Investment-for-Breakthrough-Replicable-Decarbonized-Ethylene-Commercial-Facility.html"> collaborate to produce sustainable ethylene</a> from captured carbon dioxide. The value of that market is expected to approach $200 billion by 2030.</p>



<p>Fourth quarter revenues reached $20.5 million, an increase of 77% on a year over year basis.During 2023 overall revenues increased from $37.34 million to $62.63 million. At the same time, LanzaTech Global is not without risk. Net losses increased by approximately 90% during the same period. This makes it one of those non-pharma penny stocks.</p>



<h2>SoundHound AI (SOUN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/soun1600-3-300x169.png" alt="Person holding smartphone with webpage of US audio recognition company SoundHound Inc. (SOUN) on screen in front of logo. Focus on center of phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><p><strong>SoundHound AI</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/soun-stock-quote/"><strong>SOUN</strong></a></span>) is the must know stock name for investors concerned with AI voice. It&rsquo;s been a bumpy ride for shares following the <strong>Nvidia</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/"><strong>NVDA</strong></a>) filing showing that the firm owned 1.7 million shares of SOUN stock. Prices approached $9 after that revelation and have since fallen back toward $5.</p>



<p>SoundHound AI&rsquo;s connection to Nvidia is deeper than a position alone. SoundHound AI utilizes Nvidia&rsquo;s Drive platform for specific in-car voice applications. Nvidia and SoundHound AI are aligned in order to create novel applications.</p>



<p>SoundHound AI is also <a href="https://investors.soundhound.com/news-releases/news-release-details/soundhound-ai-reports-record-quarter-80-q4-revenue-growth-171">growing very rapidly</a>. Q4 revenues grew by 80%, reaching $17.1 million.</p>



<p>The stock represents one of the best-known names in the AI voice sector. That&rsquo;s a sector that some believe is the next natural step for generative AI.</p>



<p>The company has a strong position the AI voice restaurant sector. SoundHound AI purchased SYNQ3 which had 10,000 partnerships and 100,000 restaurants in its pipeline at that time. That acquisition strengthens an already strong position in conversational AI.&nbsp;</p>



<p></p>



<p><em>On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em> Publishing Guidelines</em></a><em>.</em></p>
<div><p>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</p></div><h3>More From InvestorPlace</h3>
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<p>As the global push towards renewable energy accelerates, savvy investors are looking for <a href="https://investorplace.com/industries/energy/renewable-energy/battery/">battery stocks</a> to buy now. With advancements in technology and increased consumer and industrial demand for cleaner energy solutions, battery stocks are becoming increasingly attractive to investors looking for growth in green investments.</p>



<p>As per IEA, the global electric vehicle battery demand has seen a significant surge, <a href="https://www.iea.org/reports/global-ev-outlook-2023/trends-in-batteries">increasing</a> by about 65% to 550 GWh in 2022 from around 330 GWh in 2021, driven by a rise in electric car sales. </p>



<p>In the future, the electric vehicle battery market is should expand <a href="https://www.mordorintelligence.com/industry-reports/global-electric-vehicle-battery-market-industry">significantly</a> at a CAGR of 23.5%, from $62 billion in 2024 to $178 billion by 2029. Increased demand for electric vehicles and supportive government policies aimed at boosting EV sales are expected to drive this growth. </p>



<p>The current backdrop creates a fertile ground for investors looking to capitalize on the growth of the EV market. Thus, here are three battery stocks that are well-positioned to benefit from the rise in demand for batteries. </p>



<p>Whether you are looking to diversify your portfolio or strengthen your focus on renewable energies, these battery stocks offer promising potential amid a rapidly evolving energy landscape.</p>



<h2>Enovix (ENVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/electric-car-charging-battery-300x169.png" alt="Chinese EV Stocks. An image of an EV charging with other icons imposed over top; a lightning bolt, full battery, cogs"><div>Source: Shutterstock</div></div><p><strong>Enovix</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/envx-stock-quote/"><strong>ENVX</strong></a>) is an innovative technology company specializing in the development and manufacturing of advanced silicon-anode lithium-ion batteries. </p>



<p>The company&rsquo;s recent financial performances and strategic investments in capacity expansion and tech innovation underscore its potential for sustained growth.</p>



<p>Enovix has <a href="https://seekingalpha.com/article/4671764-enovix-corporation-envx-q4-2023-earnings-call-transcript">demonstrated</a> remarkable growth of late, with its Q4 revenue jumping from $1.1 million in Q4 2022 to $7.4 million in Q4 2023. This leap is a testament to the company&rsquo;s strategic operations and its alignment with cutting-edge market trends. </p>



<p>The company&rsquo;s recent operational <a href="https://www.businesstoday.com.my/2023/08/02/enovix-to-establish-a-cutting-edge-next-gen-battery-plant-in-penang/">expansions</a>, including the scale-up of its Fab2 facility in Malaysia, have set the stage for its next growth phase, indicating robust future revenue streams.</p>



<p>Despite the company&rsquo;s growth potential and strong financial foundation, the stock has not done well of late. However, analysts are still bullish on the stock and have an average <a href="https://finance.yahoo.com/quote/ENVX/">price target</a> of $29 on the stock. This provides a 343% potential upside in the near-term.</p>



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/ev-stocks-ev-battery-300x169.png" alt="An image of the inside the hood of a car. XPON Stock. battery stocks to buy"><div>Source: Sergii Chernov / Shutterstock.com</div></div><p><a><strong>Albemarle</strong></a> (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/"><strong>ALB</strong></a>) is a prominent player in the lithium market. Although lithium <a href="https://carboncredits.com/why-lithium-prices-are-plunging-and-what-to-expect/">prices</a> have been volatile of late, Albemarle has maintained its position as a low-cost leader. </p>



<p>The company has adapted swiftly to industry shifts and has aligned operations to capitalize on long-term growth trends.</p>



<p>Albemarle&rsquo;s robust financial health, marked by <a href="https://seekingalpha.com/symbol/ALB/balance-sheet">strong</a> cash reserves and a solid balance sheet, positions it well to navigate market uncertainties. The company <a href="https://seekingalpha.com/article/4670623-albemarle-corporation-alb-q4-2023-earnings-call-transcript">posted</a> a revenue beat of $177 million, which further iterates Albemarle&rsquo;s operational excellence.</p>



<p>Albemarle has committed to strategic investments to <a href="https://carboncredits.com/albemarle-shifts-focus-in-lithium-strategy-amid-market-softening/#:~:text=It%20has%20a%20potential%20capacity,y%20in%20a%20subsequent%20phase.&amp;text=Funds%20reallocation%20will%20now%20prioritize,t%2Fy%20of%20spodumene%20concentrate.">expand</a> its production capacity and enhance its technological edge. </p>



<p>The company is <a href="https://seekingalpha.com/article/4670623-albemarle-corporation-alb-q4-2023-earnings-call-transcript">adapting</a> to current market conditions by re-phasing its organic growth investments and optimizing its cost structure. This involves selectively reducing capital expenditures for 2024 by $300 million to $500 million compared to 2023.</p>



<h2>Solid Power (SLDP)</h2>



<a href="https://investorplace.com/wp-content/uploads/2022/06/ev-material-sim-battery-optimization.png"><img width="300" height="150" src="https://investorplace.com/wp-content/uploads/2022/06/ev-material-sim-battery-optimization-300x150.png" alt="An image of an EV driving on a city road; overlaid with 'material simulation' and 'battery optimization'"></a><p><a><strong>Solid Power</strong></a><strong> </strong>(NASDAQ:<a href="https://investorplace.com/stock-quotes/sldp-stock-quote/"><strong>SLDP</strong></a>) is an innovative technology company specializing in the development of solid-state batteries, primarily for electric vehicles. </p>



<p>The company&rsquo;s <a href="https://www.prnewswire.com/news-releases/bmw-and-ford-invest-in-solid-power-to-secure-all-solid-state-batteries-for-future-electric-vehicles-301281750.html">collaboration</a> with industry giants such as Ford and BMW underscores its strategic positioning within the automotive sector. </p>



<p>These partnerships not only bolster the company&rsquo;s credibility but also provide crucial industry insights and resources that enhance its research and development capabilities.</p>



<p>Solid Power&rsquo;s focus on solid-state batteries aligns with the automotive industry&rsquo;s push for improved EV range and safety, creating a market opportunity.</p>



<p>SLDP&rsquo;s stock is up 18% in 2024, a testament to the market&rsquo;s optimism in the company&rsquo;s growth prospects. Wall Street analysts remain bullish on the stock and have an average <a href="https://finance.yahoo.com/quote/SLDP/">price target</a> of $3.30 on the stock. This provides a near-term potential upside of 108%.</p>



<p><em>On the date of publication, Mohammed Saqib did not hold (either directly or indirectly) any positions in the securities mentioned in this article.</em>&nbsp;<em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em></a><em>.</em></p>
<div><p>Mohammed Saqib is a research analyst with experience in equity research and financial modeling. He has extensively covered stocks listed in the tech sector using fundamental analysis as the cornerstone of his approach. Currently pursuing a master&rsquo;s degree in finance, Saqib is dedicated to obtaining the CFA charter to augment his expertise in the field further.</p></div><h3>More From InvestorPlace</h3>
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<p>The demand for batteries has seen a significant surge in recent times, leading to a rise in the valuation of <a href="https://investorplace.com/industries/energy/renewable-energy/battery/"></a>battery stocks. With governments worldwide implementing stricter emissions regulations and consumers increasingly choosing electric over traditional combustion engines, the future for EV battery stocks looks exceptionally bright.</p>



<p>The electric vehicle battery market is projected to grow significantly from 2024 to 2029. As per <a href="https://www.mordorintelligence.com/industry-reports/global-electric-vehicle-battery-market-industry">Mordor Intelligence,</a> the market could reach $178 billion by 2029, growing at an impressive CAGR of 23.5%. The demand for batteries <a href="https://www.iea.org/reports/global-ev-outlook-2023/trends-in-batteries">increased</a> by 65% to 550 GWh in 2022, as per IEA. The rising sales of electric passenger cars, particularly in China and the United States, mainly drive that growth.</p>



<p>Amidst this backdrop, certain EV battery makers stand out for their innovative approaches, strategic partnerships and robust financial performance. These companies are strategically positioned to capitalize on the increasing demand from major automakers. Thus, here are three battery stocks well-positioned to provide solid returns to investors.</p>



<h2><strong>Enovix (ENVX)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600b-300x169.jpg" alt="a group of connected batteries"><div>Source: Shutterstock</div></div><p>With its innovative approach to lithium-ion batteries, <strong>Enovix</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/envx-stock-quote/"><strong>ENVX</strong></a></span>) is at the forefront of the battery technology industry. The company employs a proprietary 3D silicon cell structure and silicon anodes in its batteries. This technological enhancement leads to a higher energy density and positions Enovix as a leading player in the industry.</p>



<p>The company reported strong growth in its revenues in Q4 2023, with <a href="https://seekingalpha.com/filing/8373173">sales</a> of $7.4 million in the quarter, up from $1.1 million in Q4 2022. The company anticipates starting battery <a href="https://seekingalpha.com/article/4671764-enovix-corporation-envx-q4-2023-earnings-call-transcript">production</a> at its Fab-2 facility in Malaysia in April 2024, indicating a swift move toward commercial-scale manufacturing.</p>



<p>Although the stock has not done well in 2024, Wall Street analysts are still bullish on the company and have an average <a href="https://finance.yahoo.com/quote/ENVX/">price target</a> of $29.73 on the stock. That translates into a massive 374% potential upside in the near term.</p>



<h2><strong>Albemarle (ALB)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div><p><strong>Albemarle&rsquo;s </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/alb-stock-quote/"><strong>ALB</strong></a></span>) position as a low-cost lithium producer provides it with a competitive edge in the industry. That advantage is crucial in periods of low lithium prices, as it allows the company to sustain operations more effectively than higher-cost producers.</p>



<p>In 2023, Albemarle experienced a tumultuous period characterized by fluctuating lithium prices. The impact was notably <a href="https://www.reuters.com/markets/commodities/despite-weak-lithium-prices-albemarle-beats-cost-cuts-2024-02-14/">reflected</a> in its Q4 earnings, where revenue declined by 10% year-over-year (YoY), attributed to the stark decrease in lithium prices. In response to the challenging market environment, Albemarle has strategically adjusted its capital expenditure and operational strategies.</p>



<p>Albemarle&rsquo;s management remains optimistic about the long-term demand for lithium, projecting significant growth <a href="https://seekingalpha.com/article/4670623-albemarle-corporation-alb-q4-2023-earnings-call-transcript">driven</a> by the global shift towards electric vehicles. The company anticipates a demand surge that could nearly triple by 2030, reinforcing the strategic importance of maintaining a strong position in the lithium market.</p>



<p>ALB&rsquo;s stock is down 22% in 2024. However, Wall Street analysts remain bullish on the stock and have an average <a href="https://finance.yahoo.com/quote/ALB/">price target</a> of $149.34 on the stock. That provides a near-term potential upside of 33%.</p>



<h2><strong>Lithium Americas (LAC)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/lithium-americas-lac-1600-300x169.jpg" alt="smartphone with logo of Canadian company Lithium Americas Corp on screen"><div>Source: Wirestock Creators / Shutterstock.com</div></div><p><strong>Lithium Americas</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/lac-stock-quote/"><strong>LAC</strong></a></span>) stands out with its Thacker Pass <a href="https://lithiumamericas.com/thacker-pass/overview/default.aspx">project,</a> poised to become a critical asset in the North American lithium market. The project has gained strategic importance due to its scale and location in the United States. The U.S. is keen on bolstering domestic supply chains for critical minerals.</p>



<p>Lithium Americas has demonstrated prudent financial management amidst challenging market conditions. The company has secured a conditional commitment from the U.S. Department of Energy for a <a href="https://www.reuters.com/markets/commodities/lithium-americas-get-226-bln-us-doe-loan-nevada-mine-2024-03-14/">loan</a> of $2.26 billion. That underscores government support and confidence in the project&rsquo;s viability and strategic relevance. That financing is pivotal in ensuring the project&rsquo;s completion without financial strain on the company&rsquo;s resources.</p>



<p>The strategic <a href="https://www.prnewswire.com/news-releases/gm-and-lithium-americas-to-develop-us-sourced-lithium-production-through-650-million-equity-investment-and-supply-agreement-301734300.html">partnership</a> with <strong>General Motors</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/gm-stock-quote/"><strong>GM</strong></a></span>), which includes a commitment to purchase significant quantities of lithium, provides additional financial stability and revenue visibility.</p>



<p>Although LAC&rsquo;s stock is down 26% in 2024, Wall Street analysts are currently bullish on the company, giving the stock an average <a href="https://finance.yahoo.com/quote/LAC/">price target</a> of $10.21. That provides a potential upside of 116% in the near term.</p>



<p><em>On the date of publication, Mohammed Saqib did not hold (either directly or indirectly) any positions in the securities mentioned in this article.</em> <em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com </em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em>.</a></p>
<div><p>Mohammed Saqib is a research analyst with experience in equity research and financial modeling. He has extensively covered stocks listed in the tech sector using fundamental analysis as the cornerstone of his approach. Currently pursuing a master&rsquo;s degree in finance, Saqib is dedicated to obtaining the CFA charter to augment his expertise in the field further.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/the-top-3-battery-stocks-to-buy-in-april-2024/">The Top 3 Battery Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

The Top 3 Battery Stocks to Buy in April 2024

AAPL

ACHR

CCRD

CCRN

DAIO

MTRX

MZDAY

PCRFY

PESI

PETS

PLUS

PSSR

QRHC

RELL

SLDP

SOUN

TRNS

TSLA

VWAGY

ZYXI

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