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

KLP Kapitalforvaltning AS bought a new position in QuantumScape Co. (NYSE:QS) during the fourth quarter, Holdings Channel reports. The institutional investor bought 77,700 shares of the company’s stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QS. State Street Corp raised its position 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 purchasing an additional 87,563 shares during the period. Geode Capital Management LLC boosted its holdings in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of QuantumScape by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock valued at $12,103,000 after acquiring an additional 104,894 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 worth $6,785,000 after acquiring an additional 94,103 shares during the period. Finally, Swiss National Bank grew its position in QuantumScape by 2.2% in 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 last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,183,084.50. This trade 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 the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the sale, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,147 shares of company stock worth $935,758. 12.03% of the stock is owned by insiders.

QuantumScape Stock Down 4.4 %

Shares of QS stock opened at $3.82 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 stock has a market cap of $2.09 billion, a PE ratio of -4.06 and a beta of 4.37. The business’s fifty day moving average is $4.70 and its 200-day moving average is $5.13. QuantumScape Co. has a 1 year low of $3.53 and a 1 year high of $9.52.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Equities analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QS has been the subject of several analyst reports. Truist Financial reduced their price objective on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.