QuantumScape Corporation $QS Stock Position Lowered by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd reduced its position in shares of QuantumScape Corporation (NYSE:QS) by 95.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,762 shares of the company’s stock after selling 135,172 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in QuantumScape were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 valued at $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Man Group plc acquired a new stake in QuantumScape during the 3rd quarter worth about $44,421,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in QuantumScape during the 3rd quarter valued at about $33,962,000. BNP Paribas Financial Markets grew its stake in QuantumScape by 2,036.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock valued at $16,483,000 after acquiring an additional 2,338,038 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of QuantumScape by 150.1% in the 3rd quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock valued at $44,725,000 after purchasing an additional 2,178,918 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and lowered their price objective for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. Morgan Stanley decreased their target price on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. TD Cowen restated a “hold” rating on shares of QuantumScape in a report on Wednesday, February 18th. Evercore reissued an “in-line” rating and set a $12.00 price objective (up from $8.00) on shares of QuantumScape in a research report on Monday, November 24th. Finally, Robert W. Baird set a $12.00 target price on QuantumScape in a research note on Thursday, February 12th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $8.98.

QuantumScape Stock Performance

Shares of QS opened at $6.85 on Thursday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -8.46 and a beta of 2.51. The company’s fifty day moving average is $8.42 and its 200-day moving average is $11.27. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $19.07.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) EPS. Equities analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 9,800 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $6.76, for a total value of $66,248.00. Following the completion of the sale, the chief financial officer directly owned 1,358,079 shares in the company, valued at approximately $9,180,614.04. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey B. Straubel sold 27,106 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $7.10, for a total transaction of $192,452.60. Following the sale, the director directly owned 212,616 shares of the company’s stock, valued at approximately $1,509,573.60. This represents a 11.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 874,127 shares of company stock worth $7,840,855. Insiders own 5.48% of the company’s stock.

About QuantumScape

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.