Investing in battery stocks is considered to be valuable due to an increase in demand for electric vehicles and energy storage solutions. Battery companies are constantly investing in research and development to improve their battery performance, efficiency, safety and cost.
Some of the booming battery stocks are listed below.
Tesla (TSLA) Battery Stocks
Tesla is the leading electric vehicle maker and battery innovator, having its own Gigafactories and battery day innovations. Currently, Tesla has a market cap of $919.17B and a P/E ratio of 86.36. Previously, its stock was closed at $290.38. It has a day range of $286.01 to $295.26.
Tesla has built its first Cybertruck after years of delay. The electric pickup truck is expected to start deliveries in late 2023 or early 2024. Tesla is expected to report its Q2 earnings on July 19, 2023.
Panasonic Corporation (PCRFY) Battery Stocks
Panasonic is a major supplier of lithium to Tesla. As per Google Finance, it has a previous close of $11.91. It has a day range of $12.08-$12.25. It has a market cap of $30.23and its average volume is 221.63K.
Panasonic has a lower forward P/E ratio and PEG ratio than Dolby Laboratories (DLB) which makes it a better value stock for investors. It has achieved an A grade for value and B for stability in the Power Ratings system, which makes it one of the top rated stocks in the Technology Hardware industry.
Energizer Holdings (ENR) Battery Stocks
Energizer is a well known brand of consumer batteries with a growing presence in the rechargeable battery market and the electric vehicle charging station industry. It has a previous close of $33.47. Its day range is $33.29-$34.08. Currently, Energizer Holdings has a market cap of $ 2.39B, and an average volume of 408.58K.
The company is expected to report its Q3 earnings on August 8, 2023. Energizer has achieved a B grade for growth and momentum in the POWER Ratings system which makes it one of the top rated stocks in the consumer goods staples industry.
QuantumScape Corporation (QS) Battery Stocks
QuantumScape Corporation is an American company that develops solid lithium batteries.
The company has a market cap of $2.39 Billion and an average volume of 408.58K . It was previously closed at $33.47. It has a day range of $33.29-$34.08.
Morgan Stanley comments on the stock made the Stock gain momentum QuantumScape is expected to report its Q2 Earnings on July 26, 2023. It is still facing challenges and risks such as scaling up production, meeting customer expectations and competing with other battery makers.
Solid Power (SLDP) Battery Stocks
Solid Power is another start-up developing solid state batteries with backing from Ford, BMW, and Volta Energy Technologies. It has a previous close at $2.88. Its day range is $2.82-$2.95. It has a market cap of $503.26M.
According to the company’s website, their income in the first quarter 2023 was $3.8 Million, and compared to the first quarter of 2022, it is up by $1.6 Million.
Conclusion
The future of battery stocks seems to be booming as the demand for battery transports is increasing day by day. But, the investments should always be made by gaining in depth knowledge of the stocks, keeping in mind the market trends and some factors like capitalization and volume, etc.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/23/the-emerging-battery-stocks-to-look-for-investing/