Geode Capital Management LLC Increases Stock Holdings in QuantumScape Co. (NYSE:QS)

Geode Capital Management LLC boosted its position in QuantumScape Co. (NYSE:QS) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,853,958 shares of the company’s stock after buying an additional 218,743 shares during the quarter. Geode Capital Management LLC owned 1.14% of QuantumScape worth $33,671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares during the last quarter. Atom Investors LP acquired a new position in QuantumScape in the third quarter worth about $60,000. Centaurus Financial Inc. bought a new stake in QuantumScape in the second quarter valued at about $52,000. Finally, Nwam LLC acquired a new stake in QuantumScape during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Activity

In related news, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the transaction, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 666,032 shares of company stock worth $3,549,682. 12.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QS shares. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, 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. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price Performance

Shares of NYSE QS opened at $5.37 on Thursday. The stock has a market cap of $2.75 billion, a P/E ratio of -5.65 and a beta of 4.50. The firm’s 50-day simple moving average is $5.15 and its 200 day simple moving average is $5.64. QuantumScape Co. has a fifty-two week low of $4.65 and a fifty-two week high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued 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 period in the prior year, the business earned ($0.23) EPS. Equities analysts expect that QuantumScape Co. will post -0.99 EPS 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.