QuantumScape Co. (NYSE:QS) Shares Acquired by State Street Corp

State Street Corp lifted its stake in QuantumScape Co. (NYSE:QS) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,918,496 shares of the company’s stock after purchasing an additional 87,563 shares during the quarter. State Street Corp owned about 1.15% of QuantumScape worth $34,031,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

QS has been the topic of several recent analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a 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 company. Based on data from MarketBeat, QuantumScape currently has an average rating of “Hold” and an average target price of $6.26.

Insider Activity

In related news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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. The trade was a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the transaction, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 666,032 shares of company stock worth $3,549,682. Corporate insiders own 12.03% of the company’s stock.

QuantumScape Trading Up 6.1 %

NYSE QS opened at $5.02 on Friday. 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 firm has a market cap of $2.57 billion, a price-to-earnings ratio of -5.28 and a beta of 4.50. The firm has a 50 day simple moving average of $5.17 and a 200-day simple moving average of $5.64. QuantumScape Co. has a one year low of $4.65 and a one year high of $10.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the firm earned ($0.23) EPS. Equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

About QuantumScape

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.