12 Best Nickel Stocks to Buy According to Hedge Funds

7. QuantumScape Corporation (NYSE:QS)

Number of Hedge Fund Holders: 22

QuantumScape Corporation (NYSE:QS) is working on creating innovative battery technology for electric vehicles (EVs) and other uses, including advancements that can raise the energy density of lithium iron phosphate and nickel manganese cobalt battery cells.

The successful delivery of Alpha-2 samples, the acceleration of the Raptor process, the start of low-volume B0 manufacturing of its high-performance QSE-5 cells, and the introduction of Cobra separator heat-treatment equipment were among the significant milestones the firm accomplished in 2024. The QSE-5 platform is being industrialized for gigawatt-hour-scale production by a 150-person joint team, which is part of a significant strategic cooperation with Volkswagen’s PowerCo. By projecting a lower adjusted EBITDA loss of $250–$280 million, the company improved its financial outlook and reflected a move to a more capital-light model. QuantumScape Corporation (NYSE:QS)’s cash runway was extended into the second half of 2028, supported by a robust liquidity position of $910.8 million at year-end, ranking it seventh on our list of the Best Nickel Stocks.

In the bull case, the firm emerges as a dominating competitor, expanding to 1,500 GWh of capacity by 2045 and earning $13 per kWh, resulting in huge upside.