5 Best EV Battery Stocks Under $10

3. Quantumscape Corp (NYSE:QS)

Share Price as of April 5: $7.99
Number of Hedge Fund Holders: 21

Quantumscape Corp (NYSE:QS) is an EV battery market player in the United States. Although relatively younger, it has demonstrated the capability to redefine the market through innovations, to which its growing IP portfolio is the best testament. In addition, Quantumscape Corp (NYSE:QS) has strong financial backing from shareholders, enabling it to scale up its production capabilities and bring its technology to market.

Despite the strong financial position, the stock is down significantly from its peak price. The share price recently declined to $7 or $8, far from its 52-week high of $22.21. As a result, Morgan Stanley lowered the company’s price target from $4 to $3 and retained an ‘Underweight’ rating on the shares.

According to Insider Monkey’s data, 21 hedge funds were long Quantumscape Corp (NYSE:QS) at the end of Q4 2022, compared to 14 funds in the prior quarter. JS Capital is a major shareholder of Quantumscape Corp (NYSE:QS), with 2.04 million shares worth $11.54 million.