Arizona State Retirement System Increases Holdings in QuantumScape Co. (NYSE:QS)

Arizona State Retirement System boosted its position in shares of QuantumScape Co. (NYSE:QS) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,364 shares of the company’s stock after purchasing an additional 2,483 shares during the quarter. Arizona State Retirement System’s holdings in QuantumScape were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in 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 buying an additional 218,743 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in QuantumScape during the fourth quarter valued at about $1,275,000. Weiss Asset Management LP purchased a new position in QuantumScape in the third quarter valued at about $828,000. SBI Securities Co. Ltd. bought a new position in QuantumScape in the fourth quarter worth about $386,000. Finally, SG Americas Securities LLC lifted 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 valued at $1,062,000 after acquiring an additional 114,504 shares during the last quarter. 29.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Truist Financial lowered their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 14th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus price target of $6.06.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $4.36 on Friday. QuantumScape Co. has a 52 week low of $4.05 and a 52 week high of $9.52. The firm has a market capitalization of $2.38 billion, a P/E ratio of -4.63 and a beta of 4.45. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $5.04 and its two-hundred day moving average is $5.27.

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

Insider Activity

In related news, insider Michael O. Mccarthy III sold 76,315 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 277,452 shares of company stock worth $1,542,942. Company insiders own 12.03% of the company’s stock.

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.