Treasurer of the State of North Carolina Increases Holdings in QuantumScape Co. (NYSE:QS)

Treasurer of the State of North Carolina boosted its position in shares of QuantumScape Co. (NYSE:QS – Get Rating) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 111,893 shares of the company’s stock after buying an additional 3,530 shares during the period. Treasurer of the State of North Carolina’s holdings in QuantumScape were worth $634,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in QS. Signaturefd LLC raised its holdings in shares of QuantumScape by 327.6% in the fourth quarter. Signaturefd LLC now owns 5,148 shares of the company’s stock valued at $29,000 after acquiring an additional 3,944 shares in the last quarter. CWM LLC increased its position in QuantumScape by 41.6% during the 4th quarter. CWM LLC now owns 5,843 shares of the company’s stock valued at $33,000 after purchasing an additional 1,718 shares during the period. Belpointe Asset Management LLC purchased a new position in QuantumScape during the 4th quarter valued at about $46,000. Bray Capital Advisors purchased a new stake in shares of QuantumScape in the 3rd quarter worth approximately $47,000. Finally, Allworth Financial LP boosted its stake in shares of QuantumScape by 37.5% during the fourth quarter. Allworth Financial LP now owns 9,359 shares of the company’s stock valued at $53,000 after purchasing an additional 2,554 shares in the last quarter. 26.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QS has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of QuantumScape from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Wednesday, April 12th. Deutsche Bank Aktiengesellschaft reduced their price target on QuantumScape from $10.00 to $8.00 in a research report on Friday, April 28th. Finally, Morgan Stanley cut their target price on QuantumScape from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 25th.

QuantumScape Price Performance

Shares of QS opened at $6.04 on Monday. The company has a 50 day moving average of $7.13 and a two-hundred day moving average of $7.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 22.85 and a current ratio of 22.85. QuantumScape Co. has a twelve month low of $5.11 and a twelve month high of $13.86.

QuantumScape (NYSE:QS – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). During the same period in the previous year, the business earned ($0.21) earnings per share. Equities analysts predict that QuantumScape Co. will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jagdeep Singh sold 478,747 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $9.03, for a total value of $4,323,085.41. Following the transaction, the chief executive officer now directly owns 970,877 shares of the company’s stock, valued at approximately $8,767,019.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QuantumScape news, CEO Jagdeep Singh sold 478,747 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $9.03, for a total transaction of $4,323,085.41. Following the sale, the chief executive officer now owns 970,877 shares in the company, valued at approximately $8,767,019.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 48,471 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $9.15, for a total value of $443,509.65. Following the completion of the transaction, the chief financial officer now owns 629,490 shares of the company’s stock, valued at $5,759,833.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,207,699 shares of company stock valued at $10,477,936. 13.73% of the stock is currently owned by corporate insiders.

QuantumScape Profile

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QuantumScape Corporation, a 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.