QuantumScape Corporation $QS Holdings Boosted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its stake in shares of QuantumScape Corporation (NYSE:QS) by 15.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,961 shares of the company’s stock after purchasing an additional 16,915 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in QuantumScape were worth $860,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its position in QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after acquiring an additional 5,841 shares during the period. Federated Hermes Inc. lifted its position in shares of QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after acquiring an additional 5,438 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Quarry LP purchased a new position in shares of QuantumScape in the first quarter worth approximately $37,000. Finally, Freedom Investment Management Inc. purchased a new stake in shares of QuantumScape in the first quarter valued at $43,000. Institutional investors own 29.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Saturday, September 27th. TD Cowen upgraded shares of QuantumScape to a “hold” rating in a research note on Monday, July 7th. Finally, Robert W. Baird upped their price target on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, QuantumScape presently has a consensus rating of “Reduce” and a consensus target price of $5.88.

Insider Transactions at QuantumScape

In related news, insider Mohit Singh sold 465,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the sale, the insider directly owned 1,641,711 shares of the company’s stock, valued at $13,478,447.31. The trade was a 22.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael O. Mccarthy III sold 500,000 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. This trade represents a 25.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,792,870 shares of company stock worth $30,636,785. Corporate insiders own 5.48% of the company’s stock.

QuantumScape Stock Performance

NYSE QS opened at $15.91 on Monday. The company has a 50 day moving average of $9.81 and a 200-day moving average of $6.97. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $16.49. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of -18.50 and a beta of 4.85.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million for the quarter. During the same quarter in the previous year, the firm earned ($0.25) EPS. On average, equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

QuantumScape Company Profile

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.