Vanguard Group Inc. Increases Stock Position in QuantumScape Corporation $QS

Vanguard Group Inc. increased its position in shares of QuantumScape Corporation (NYSE:QS) by 9.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,351,974 shares of the company’s stock after buying an additional 2,911,362 shares during the period. Vanguard Group Inc. owned 6.32% of QuantumScape worth $147,064,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after buying an additional 5,841 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in QuantumScape during the fourth quarter worth $26,000. Federated Hermes Inc. boosted its holdings in QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after buying an additional 5,438 shares in the last quarter. Hollencrest Capital Management boosted its holdings in QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in QuantumScape during the fourth quarter worth $29,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Trading Up 0.1%

QS opened at $7.9150 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The company’s 50 day simple moving average is $8.37 and its two-hundred day simple moving average is $5.71. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $15.03. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of -9.20 and a beta of 4.43.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter last year, the business earned ($0.25) earnings per share. Analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the transaction, the insider directly owned 1,467,183 shares of the company’s stock, valued at $17,019,322.80. This trade represents a 25.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mohit Singh sold 465,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the transaction, the insider directly owned 1,641,711 shares in the company, valued at $13,478,447.31. This trade represents a 22.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,956,517 shares of company stock valued at $34,977,013. Company insiders own 5.48% of the company’s stock.

Analyst Ratings Changes

QS has been the topic of a number of recent analyst reports. TD Cowen raised shares of QuantumScape to a “hold” rating in a report on Monday, July 7th. Robert W. Baird increased their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group decreased their price objective on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, April 28th. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $5.90.

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.