Mirae Asset Global Investments Co. Ltd. Trims Position in QuantumScape Corporation $QS

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of QuantumScape Corporation (NYSE:QS) by 64.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,599 shares of the company’s stock after selling 74,667 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in QuantumScape were worth $512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in QuantumScape in the 1st quarter worth approximately $321,000. NewEdge Advisors LLC raised its position in shares of QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock valued at $88,000 after buying an additional 7,111 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after acquiring an additional 3,904,168 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in QuantumScape by 22.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the company’s stock worth $245,000 after acquiring an additional 6,413 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in QuantumScape by 12.2% during the second quarter. KLP Kapitalforvaltning AS now owns 87,200 shares of the company’s stock valued at $586,000 after purchasing an additional 9,500 shares during the period. Institutional investors own 29.87% of the company’s stock.

Insider Activity at QuantumScape

In related news, Director Jeffrey B. Straubel sold 27,106 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $11.28, for a total value of $305,755.68. Following the transaction, the director owned 239,722 shares of the company’s stock, valued at $2,704,064.16. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Timothy Holme sold 166,440 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $11.28, for a total value of $1,877,443.20. Following the completion of the sale, the chief technology officer owned 1,251,383 shares of the company’s stock, valued at $14,115,600.24. This represents a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,257,169 shares of company stock worth $48,407,629. Insiders own 5.48% of the company’s stock.

QuantumScape Trading Down 8.6%

Shares of QS opened at $7.76 on Friday. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The company has a 50-day moving average of $10.88 and a 200 day moving average of $11.67. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -9.58 and a beta of 2.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14.

Analyst Ratings Changes

A number of research analysts have weighed in on QS shares. Evercore ISI reiterated an “in-line” rating and set a $12.00 price objective (up previously from $8.00) on shares of QuantumScape in a research report on Monday, November 24th. Morgan Stanley started coverage on shares of QuantumScape in a research note on Monday, December 8th. They set an “equal weight” rating and a $12.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Hsbc Global Res raised shares of QuantumScape to a “moderate sell” rating in a research note on Wednesday, November 19th. Finally, HSBC lowered QuantumScape from a “hold” rating to a “reduce” rating and boosted their target price for the company from $5.30 to $10.50 in a research report on Wednesday, November 19th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.17.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.