Fmr LLC Buys 6,026 Shares of QuantumScape Co. (NYSE:QS)

Fmr LLC lifted its stake in QuantumScape Co. (NYSE:QS) by 74.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,070 shares of the company’s stock after buying an additional 6,026 shares during the period. Fmr LLC’s holdings in QuantumScape were worth $81,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QS. Canada Pension Plan Investment Board bought a new stake in QuantumScape in the 2nd quarter valued at $1,950,000. American Century Companies Inc. boosted its position in shares of QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after acquiring an additional 133,000 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in QuantumScape in the second quarter worth about $644,000. Finally, Sanctuary Advisors LLC bought a new position in QuantumScape during the second quarter worth about $680,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QuantumScape

In other news, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the sale, the director now owns 2,590,583 shares in the company, valued at $14,325,923.99. This represents a 6.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Hettrich sold 29,667 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $5.10, for a total transaction of $151,301.70. Following the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,224,057.50. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 666,032 shares of company stock valued at $3,549,682. 12.03% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on QS shares. Truist Financial reiterated a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research report on Tuesday, November 19th. Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Up 2.6 %

NYSE:QS opened at $5.15 on Tuesday. QuantumScape Co. has a 1 year low of $4.65 and a 1 year high of $10.03. The stock has a 50-day moving average price of $5.17 and a two-hundred day moving average price of $5.64. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -5.42 and a beta of 4.50. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the company earned ($0.23) EPS. As a group, equities analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current 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.