Explore four battery stocks powering the green drive - Kalkine Media

August 10, 2021 02:29 PM PDT | By Team Kalkine Media
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  • EnerSys (NYSE: ENS) P/E ratio is 29.61, and the current dividend yield is 0.71%. 
  • QuantumScape Corporation (NYSE: QS) cash, cash equivalent and restricted cash were US$ 414 million as of June 30, 2021.
  • Romeo Power, Inc. (NYSE: RMO) made a profit in the March quarter against the net loss in the same period the prior year. Its cash and cash equivalents were US$ 41,278. 

Batteries of all shapes and sizes are in high demand today with the rise of the electric vehicle market and the emergence of various modern electronic gadgets that have become essential for most people. Besides, the push for green technologies is helping gain more pace for the industry in recent times. So, there lies an incredible opportunity ahead for battery makers.

Here we discuss four such stocks that are drawing attention from investors.

EnerSys (NYSE: ENS) manufactures batteries for various devices and purposes.

Its market capitalization is US$4 billion, the P/E ratio is 29.61, and the forward P/E for one year is 18.08. EnerSys pays an annualized dividend of US$ 0.70. Its current dividend yield is 0.71%. 

It will release its first quarter fiscal year 2022 results on Aug 12. It's FY 2021 ended on March 31. The net sales for the year were US$2.98 billion compared to US$3.09 billion in FY 2020.

The net income was US$143.37 million, or US$3.32 per share diluted, compared to US$137.12 million or US$ 3.20 per share diluted. Its cash reserves were US$451.8 million as of March 31, 2021. EnerSys stock closed at US$98.37 on Aug 9, 2021.

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Source – pixabay

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Lithium Americas Corp. (NYSE: LAC) operates lithium claystone projects in the US and Latin America. Its market capitalization is US$2 billion. 

It declared second-quarter results on Aug 5. The net loss was US$19.3 million or US$0.16 per share compared to a net loss of US$6 million or US$0.07 per share in the year-ago quarter. 

Its cash reserves were US$505 million. Lithium stock closed at US$15.47 on Aug 9, 2021. 

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QuantumScape Corporation (NYSE: QS) develops next-generation solid-state lithium-metal batteries and battery technology for electric vehicles.

Its market capitalization is US$ 10 billion.

As of the quarter ended June 30, 2021, QS has not received any revenue from business activities. The net income for this quarter was US$ 81 million compared to the net loss of US$ 13.95 million in the prior-year June quarter. The net loss per share diluted was US$ 0.12 for June quarter 2021 compared to net loss per share diluted of US$ 0.06 a year ago. 

The cash, cash equivalent and restricted cash were US$ 414 million as of June 30, 2021.

The stock closed at US$ 24.01 on Aug 9, 2021.

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Source: Pixabay

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Romeo Power, Inc. (NYSE: RMO) manufactures batteries for commercial electric vehicles.

Romeo Power has a US$890 million market capitalization. 

It will release its Q2 results on Aug 16, 2021.

For the March quarter of 2021, its revenue was US$ 1.05 million compared to US$ 2.52 million in the previous year. The net income was US$ 90 million or US$ 0.66 per share diluted compared to the net loss of 6.77 million or US$ 0.09 per share diluted a year ago.

Its cash reserves were US$41,278 in the March quarter. 

Romeo stock closed at US$6.85 on Aug 9, 2021. 


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