Are you ready for the forever battery? More specifically, the battery that promises to change how electric vehicles (EVs) are powered? InvestorPlace‘s Luke Lango has made it clear that he thinks automakers need better batteries for the EV revolution to reach its full potential. And he believes that QuantumScape (NYSE:QS) is the company that can build exactly that by perfecting the solid-state battery (SSB). While QS stock is still struggling, the importance of what QuantumScape is building should not be underestimated. As Lango states:
“Solid-state batteries are the future, and they represent one of the most promising technological breakthroughs of the 2020s. Just like computers represented one of the most promising technological breakthroughs of the 1980s; the internet represented one of the most promising technological breakthroughs of the 1990s; the cloud represented one of the most promising technological breakthroughs of the 2000s.”
With countries across the globe embracing green technology, it makes sense for investors to load up on EV battery stocks. Demand for new energy vehicles is only increasing. This means that demand for the batteries that power them is likely to rise as well. If projections are correct, the EV battery market will surpass $134 billion in 2027 after expanding at a compound annual growth rate (CAGR) of more than 19%. But even with this type of growth potential, institutional sentiment toward QS stock remains mixed. Let’s take a look at the names still betting on it.
Who Is Betting Big on QS Stock
While the number of funds holding QS stock has slightly decreased recently, the number of 13F shares has increased, as has percentage ownership. New and increased positions are down for the quarter, but the number of closed positions has fallen more than 50%. However, QuantumScape’s put/call ratio has risen sharply and now exceeds 1, indicating that bearish sentiment toward QS stock is growing.
With that in mind, let’s take a look at the top five institutional investors maintaining top positions in this company.
- Khosla Ventures III: 24,827,647 shares. This Silicon Valley firm recently offloaded 10,612,757 shares of QS stock.
- Vanguard Group: 23,548,227 shares. The mutual fund giant has increased its position in QuantumScape by 1,562,931 shares.
- Capricorn Investment Group: 14,794,635. This investment firm has made no changes to its QS holdings during the previous quarter.
- BlackRock (NYSE:BLK): 13,035,638 shares. This prominent hedge fund has added 1,148,137 QuantumScape shares this quarter.
- BNP Paribas Investment Partners: 6,855,179 shares. The investment arm of BNP Paribas recently increased its position in QS stock by 583,630 shares.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
