Baillie Gifford & Co. Reduces Position in QuantumScape Corporation $QS

Baillie Gifford & Co. decreased its holdings in QuantumScape Corporation (NYSE:QS) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,708,129 shares of the company’s stock after selling 161,517 shares during the quarter. Baillie Gifford & Co. owned approximately 0.30% of QuantumScape worth $21,044,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in QuantumScape by 456.5% during the 1st 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 purchasing an additional 3,904,168 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of QuantumScape by 2,036.7% during the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock worth $16,483,000 after buying an additional 2,338,038 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of QuantumScape by 1,005.2% in the second quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company’s stock worth $13,323,000 after buying an additional 1,803,196 shares during the last quarter. Bank of America Corp DE raised its holdings in QuantumScape by 148.0% in the second quarter. Bank of America Corp DE now owns 2,803,989 shares of the company’s stock valued at $18,843,000 after acquiring an additional 1,673,472 shares in the last quarter. Finally, HRT Financial LP raised its holdings in QuantumScape by 174.2% in the second quarter. HRT Financial LP now owns 1,475,074 shares of the company’s stock valued at $9,912,000 after acquiring an additional 937,098 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Stock Down 4.1%

QS stock opened at $10.36 on Friday. The firm’s 50-day moving average is $11.42 and its two-hundred day moving average is $11.78. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -12.79 and a beta of 2.60. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). During the same quarter in the prior year, the firm earned ($0.23) earnings per share. On average, analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other news, CTO Timothy Holme sold 166,440 shares of the business’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 sale, the chief technology officer owned 1,251,383 shares of the company’s stock, valued at approximately $14,115,600.24. The trade was a 11.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dipender Saluja sold 2,613,121 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.01, for a total value of $28,770,462.21. Following the completion of the sale, the director owned 9,892,934 shares of the company’s stock, valued at approximately $108,921,203.34. This trade represents a 20.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,784,775 shares of company stock valued at $57,580,946. 5.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

QS has been the subject of several recent analyst reports. TD Cowen reissued a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Morgan Stanley started coverage on QuantumScape in a research note on Monday, December 8th. They issued an “equal weight” rating and a $12.00 price target for the company. HSBC lowered QuantumScape from a “hold” rating to a “reduce” rating and boosted their price objective for the company from $5.30 to $10.50 in a report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, QuantumScape currently has a consensus rating of “Reduce” and a consensus target price of $9.17.

QuantumScape 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.