Handelsbanken Fonder AB Purchases 23,400 Shares of QuantumScape Co. (NYSE:QS)

Handelsbanken Fonder AB increased its position in QuantumScape Co. (NYSE:QS) by 26.3% during the third quarter, Holdings Channel reports. The firm owned 112,400 shares of the company’s stock after buying an additional 23,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in QuantumScape were worth $646,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CWM LLC increased its holdings in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the last quarter. Mather Group LLC. acquired a new position in QuantumScape in the 2nd quarter valued at about $36,000. Alaska Wealth Advisors acquired a new position in QuantumScape in the 2nd quarter valued at about $49,000. Centaurus Financial Inc. bought a new position in QuantumScape in the 2nd quarter valued at about $52,000. Finally, Financial Advocates Investment Management acquired a new stake in QuantumScape during the second quarter worth approximately $58,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QS shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.14.

QuantumScape Price Performance

Shares of NYSE QS opened at $5.62 on Monday. The business has a fifty day moving average price of $5.73 and a two-hundred day moving average price of $5.84. The stock has a market capitalization of $2.84 billion, a PE ratio of -5.92 and a beta of 4.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. QuantumScape Co. has a fifty-two week low of $4.67 and a fifty-two week high of $10.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period last year, the company earned ($0.26) EPS. As a group, equities analysts predict that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the transaction, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the sale, the director now directly owns 254,103 shares of the company’s stock, valued at $1,514,453.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Timothy Holme sold 44,306 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the completion of the transaction, the chief technology officer now owns 1,168,496 shares in the company, valued at approximately $7,139,510.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,126,067 shares of company stock worth $6,659,475. Corporate insiders own 12.03% of the company’s stock.

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.