Arizona State Retirement System Acquires 4,330 Shares of QuantumScape Co. (NYSE:QS)

Arizona State Retirement System grew its holdings in QuantumScape Co. (NYSE:QS) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,800 shares of the company’s stock after purchasing an additional 4,330 shares during the quarter. Arizona State Retirement System’s holdings in QuantumScape were worth $486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of QuantumScape by 26.4% in the 4th quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock valued at $304,000 after acquiring an additional 9,135 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of QuantumScape in the 4th quarter valued at $97,000. Vanguard Group Inc. boosted its holdings in shares of QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after acquiring an additional 796,723 shares during the last quarter. Swiss National Bank boosted its holdings in shares of QuantumScape by 9.3% in the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after acquiring an additional 58,000 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of QuantumScape by 40.2% in the 1st quarter. Principal Financial Group Inc. now owns 28,278 shares of the company’s stock valued at $178,000 after acquiring an additional 8,106 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

Shares of NYSE QS opened at $5.87 on Tuesday. The firm has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $5.87. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -6.11 and a beta of 4.59. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a 52 week low of $4.67 and a 52 week high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the firm earned ($0.26) EPS. On average, equities analysts predict that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 25,816 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the completion of the transaction, the director now owns 267,011 shares of the company’s stock, valued at $1,300,343.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Fritz Prinz sold 25,816 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the sale, the director now owns 267,011 shares of the company’s stock, valued at $1,300,343.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $6,202,067.16. The disclosure for this sale can be found here. Insiders sold a total of 1,101,530 shares of company stock valued at $6,584,536 over the last 90 days. 10.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on QS. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial restated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.53.

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.