5 Cheap Lithium Stocks to Buy Today

3. QuantumScape Corporation (NYSE:QS)

Number of Hedge Fund Holders: 19    

Share Price as of September 13: $11.27 

QuantumScape Corporation (NYSE:QS) focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. In late July, the firm filed a $1 billion mixed securities shelf offering. The securities sold by the company in this offering could include Class A common stock, preferred stock, depositary shares, debt securities, warrants, subscription rights, purchase contracts, and units in one or more offerings and in any combination. 

On July 28, Deutsche Bank analyst Emmanuel Rosner maintained a Hold rating on QuantumScape Corporation (NYSE:QS) stock and lowered the price target to $13 from $20, noting that clarity was needed for the QS-1 production plan of the firm. 

At the end of the second quarter of 2022, 19 hedge funds in the database of Insider Monkey held stakes worth $84 million in QuantumScape Corporation (NYSE:QS), compared to 15 in the previous quarter worth $117 million.