Van ECK Associates Corp Has $690,000 Holdings in QuantumScape Co. (NYSE:QS)

Van ECK Associates Corp grew its holdings in QuantumScape Co. (NYSE:QS) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,885 shares of the company’s stock after purchasing an additional 11,050 shares during the period. Van ECK Associates Corp’s holdings in QuantumScape were worth $690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its holdings in 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 buying an additional 133,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after buying an additional 218,743 shares during the last quarter. Weiss Asset Management LP acquired a new position in QuantumScape during the third quarter worth $828,000. SG Americas Securities LLC increased its holdings in QuantumScape by 127.0% during the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after buying an additional 114,504 shares during the last quarter. Finally, Barclays PLC increased its holdings in QuantumScape by 326.5% during the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after buying an additional 79,871 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Hettrich sold 29,667 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,224,057.50. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 615,216 shares of company stock valued at $3,327,157. 12.03% of the stock is owned by company insiders.

QuantumScape Trading Down 2.9 %

Shares of QuantumScape stock opened at $5.18 on Friday. The firm has a 50-day moving average of $5.29 and a 200-day moving average of $5.40. The stock has a market cap of $2.65 billion, a PE ratio of -5.51 and a beta of 4.45. QuantumScape Co. has a 52-week low of $4.65 and a 52-week high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, sell-side analysts forecast that QuantumScape Co. will post -0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on QS. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Evercore ISI reduced their price objective on shares of QuantumScape from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. Truist Financial reduced their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, QuantumScape currently has a consensus rating of “Hold” and a consensus price target of $6.06.

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.