QuantumScape Co. (NYSE:QS) Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in QuantumScape Co. (NYSE:QS) by 3.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,853,958 shares of the company’s stock after purchasing an additional 218,743 shares during the quarter. Geode Capital Management LLC’s holdings in QuantumScape were worth $33,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings 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 valued at $34,031,000 after purchasing an additional 87,563 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after buying an additional 93,826 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 valued at $6,785,000 after purchasing an additional 94,103 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of QuantumScape by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after buying an additional 11,897 shares during the period. Finally, Arthedge Capital Management LLC grew its holdings in shares of QuantumScape by 14.6% during the 3rd quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company’s stock worth $4,157,000 after purchasing an additional 92,000 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QS shares. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research started coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, 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. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.26.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the transaction, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. The trade was a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 666,032 shares of company stock valued at $3,549,682. 12.03% of the stock is currently owned by insiders.

QuantumScape Trading Up 4.3 %

QS stock opened at $5.37 on Thursday. The business has a fifty day moving average of $5.15 and a 200-day moving average of $5.64. The company has a market cap of $2.75 billion, a P/E ratio of -5.65 and a beta of 4.50. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the prior year, the business posted ($0.23) EPS. As a group, equities research analysts expect that QuantumScape Co. will post -0.99 EPS for the current 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.