Mirae Asset Global Investments Co. Ltd. Sells 2,643,909 Shares of QuantumScape Co. (NYSE:QS)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of QuantumScape Co. (NYSE:QS) by 67.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,251,070 shares of the company’s stock after selling 2,643,909 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in QuantumScape were worth $8,695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after purchasing an additional 5,483,319 shares in the last quarter. BlackRock Inc. grew its position in shares of QuantumScape by 9.7% during the second quarter. BlackRock Inc. now owns 13,035,638 shares of the company’s stock valued at $104,155,000 after purchasing an additional 1,148,137 shares in the last quarter. Morgan Stanley grew its position in shares of QuantumScape by 52.1% during the third quarter. Morgan Stanley now owns 4,310,857 shares of the company’s stock valued at $28,840,000 after purchasing an additional 1,476,799 shares in the last quarter. State Street Corp grew its position in shares of QuantumScape by 4.9% during the second quarter. State Street Corp now owns 4,233,576 shares of the company’s stock valued at $33,826,000 after purchasing an additional 198,244 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of QuantumScape by 9.2% during the second quarter. Geode Capital Management LLC now owns 4,115,749 shares of the company’s stock valued at $32,885,000 after purchasing an additional 348,329 shares in the last quarter. 29.87% of the stock is owned by institutional investors.

QuantumScape Trading Down 4.0 %

QS opened at $5.81 on Friday. QuantumScape Co. has a 12 month low of $4.99 and a 12 month high of $13.86. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $6.32 and a 200 day moving average of $6.48.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter last year, the firm posted ($0.25) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.11, for a total transaction of $211,448.77. Following the completion of the transaction, the chief financial officer now owns 556,302 shares in the company, valued at $3,399,005.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.11, for a total transaction of $211,448.77. Following the completion of the transaction, the chief financial officer now owns 556,302 shares in the company, valued at $3,399,005.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares of the company’s stock, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Insiders sold 194,970 shares of company stock worth $1,250,775 over the last 90 days. Company insiders own 10.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird raised their price objective on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. William Blair initiated coverage on QuantumScape in a research report on Monday, December 18th. They issued a “market perform” rating for the company. Finally, Truist Financial lifted their price target on QuantumScape from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, QuantumScape has an average rating of “Hold” and a consensus target price of $6.71.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.