KLP Kapitalforvaltning AS Takes Position in QuantumScape Co. (NYSE:QS)

KLP Kapitalforvaltning AS bought a new position in shares of QuantumScape Co. (NYSE:QS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 77,700 shares of the company’s stock, valued at approximately $403,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of QuantumScape by 1.5% during the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after buying an additional 87,563 shares during the last quarter. Geode Capital Management LLC increased its stake 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 acquiring an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of QuantumScape by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock worth $12,103,000 after purchasing an additional 104,894 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of QuantumScape by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after purchasing an additional 94,103 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of QuantumScape by 2.2% during the 4th quarter. Swiss National Bank now owns 754,700 shares of the company’s stock worth $3,917,000 after purchasing an additional 16,500 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the sale, the chief financial officer now owns 1,024,325 shares in the company, valued at $5,183,084.50. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $399,127.45. Following the completion of the transaction, the insider now owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,147 shares of company stock worth $935,758 in the last three months. 12.03% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on QS shares. Evercore ISI restated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Truist Financial cut their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.06.

QuantumScape Stock Performance

QuantumScape stock opened at $3.82 on Friday. QuantumScape Co. has a 12-month low of $3.53 and a 12-month high of $9.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.06 and a beta of 4.37. The firm’s fifty day moving average price is $4.70 and its 200 day moving average price is $5.13.

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). On average, research analysts forecast that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

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.