Amundi Reduces Stock Position in QuantumScape Co. (NYSE:QS)

Amundi trimmed its position in shares of QuantumScape Co. (NYSE:QS) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,236 shares of the company’s stock after selling 20,614 shares during the quarter. Amundi’s holdings in QuantumScape were worth $602,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QS. Geode Capital Management LLC grew its stake in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of QuantumScape during the 4th quarter worth about $1,275,000. Weiss Asset Management LP acquired a new position in QuantumScape during the third quarter worth approximately $828,000. SBI Securities Co. Ltd. acquired a new position in QuantumScape during the fourth quarter worth approximately $386,000. Finally, SG Americas Securities LLC increased its position in QuantumScape by 127.0% during the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after buying an additional 114,504 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Price Performance

Shares of NYSE:QS opened at $4.45 on Friday. QuantumScape Co. has a one year low of $4.05 and a one year high of $9.52. The business’s fifty day moving average price is $4.91 and its two-hundred day moving average price is $5.23. 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 $2.43 billion, a PE ratio of -4.73 and a beta of 4.45.

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

Insider Buying and Selling at QuantumScape

In related news, CFO Kevin Hettrich sold 36,949 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now directly owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 277,452 shares of company stock valued at $1,542,942 over the last three months. 12.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

QS has been the subject of a number of recent research reports. Truist Financial decreased 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 reaffirmed a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.