Nuveen Asset Management LLC Decreases Stake in QuantumScape Co. (NYSE:QS)

Nuveen Asset Management LLC lessened its stake in shares of QuantumScape Co. (NYSE:QS) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 518,678 shares of the company’s stock after selling 59,803 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.10% of QuantumScape worth $2,692,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in QuantumScape during the fourth quarter worth about $26,000. Blue Trust Inc. lifted its holdings in shares of QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of QuantumScape in the 4th quarter worth approximately $53,000. Atlas Legacy Advisors LLC purchased a new stake in shares of QuantumScape in the 4th quarter worth approximately $53,000. Finally, Essex Financial Services Inc. purchased a new stake in shares of QuantumScape in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

QS stock opened at $3.93 on Tuesday. The business’s fifty day moving average price is $3.98 and its 200 day moving average price is $4.68. QuantumScape Co. has a 12-month low of $3.40 and a 12-month high of $9.52. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.19 billion, a PE ratio of -4.18 and a beta of 4.38.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period last year, the firm posted ($0.24) EPS. On average, sell-side analysts anticipate that QuantumScape Co. will post -0.82 EPS for the current year.

Insider Buying and Selling

In other news, insider Mohit Singh sold 71,428 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $4.41, for a total value of $314,997.48. Following the completion of the sale, the insider now directly owns 1,640,998 shares in the company, valued at approximately $7,236,801.18. The trade was a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 61,523 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the sale, the director now owns 231,530 shares in the company, valued at approximately $912,228.20. This trade represents a 20.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 12.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group cut QuantumScape from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. The Goldman Sachs Group reduced their price objective on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Robert W. Baird dropped their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Truist Financial decreased their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus price target of $5.19.

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.