5 Best Lithium Stocks To Buy Now

3. QuantumScape Corporation (NYSE:QS)

Number of Hedge Fund Holders: 26

QuantumScape Corporation (NYSE:QS) makes solid-state lithium-metal batteries that are used to power electric vehicles. The company is becoming a go-to battery provider for prominent names in the EV industry and is therefore ranked high among the best lithium stocks to buy now. This March, the company reported that it has signed an agreement with its fourth automotive original equipment manufacturer. The unannounced OEM will be collaborating with QuatumScape Corporation (NYSE:QS) to validate and test its solid-state battery cells to integrate them into pre-production prototype vehicles and ultimately into mass production commercial vehicles. On March 28, it was revealed that QuatumScape Corporation (NYSE:QS) will be working with German luxury and high-performance carmaker Porsche to power Porsche’s EVs such as the electric 911 with its solid-state batteries.

This April,  Deutsche Bank analyst Emmanuel Rosner initiated coverage of QuantumScape Corporation (NYSE:QS) with a Hold rating and a $20 price target. The analyst said that the company is exhibiting growth potential and is actively involved in bettering its solid-state lithium metal battery technology, making it gain popularity in the automobile industry.

Insider Monkey was able to identify 26 hedge funds that held long positions in QuantumScape Corporation (NYSE:QS) at the end of the fourth quarter of 2021. The total stakes of these funds were valued at $157.08 million. This is compared to 25 positions in the previous quarter with stakes worth $197 million.

As of the end of last December, JS Capital is the dominating shareholder in QuantumScape Corporation (NYSE:QS). The fund owns more than 2 million shares of stock which equate to stakes of $45.15 million.