Barclays PLC Grows Stake in QuantumScape Co. (NYSE:QS)

Barclays PLC increased its holdings in shares of QuantumScape Co. (NYSE:QS) by 326.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,333 shares of the company’s stock after purchasing an additional 79,871 shares during the quarter. Barclays PLC’s holdings in QuantumScape were worth $599,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new position in shares of QuantumScape in the 2nd quarter valued at $1,950,000. American Century Companies Inc. boosted its stake in QuantumScape by 880.6% in the second 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. Weiss Asset Management LP acquired a new position in QuantumScape in the third quarter valued at $828,000. Nisa Investment Advisors LLC increased its position in shares of QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of QuantumScape in the 2nd quarter valued at about $644,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Stock Down 5.5 %

QS stock opened at $5.19 on Thursday. QuantumScape Co. has a one year low of $4.65 and a one year high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a fifty day moving average of $5.18 and a 200-day moving average of $5.64. The stock has a market capitalization of $2.66 billion, a PE ratio of -5.46 and a beta of 4.50.

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

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael O. Mccarthy III sold 27,305 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total value of $138,436.35. Following the completion of the sale, the insider now owns 1,129,167 shares in the company, valued at approximately $5,724,876.69. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 763,337 shares of company stock valued at $4,156,865 over the last quarter. Company insiders own 12.03% of the company’s stock.

Wall Street Analyst Weigh In

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

QuantumScape 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.