Swiss National Bank Increases Stock Position in QuantumScape Co. (NYSE:QS)

Swiss National Bank raised its stake in QuantumScape Co. (NYSE:QS) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 754,700 shares of the company’s stock after purchasing an additional 16,500 shares during the period. Swiss National Bank’s holdings in QuantumScape were worth $3,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in QS. Raymond James Financial Inc. purchased a new stake in QuantumScape in the 4th quarter valued at $1,527,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape in the fourth quarter valued at about $1,275,000. Geode Capital Management LLC grew 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 worth $33,671,000 after buying an additional 218,743 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of QuantumScape during the third quarter worth about $828,000. Finally, SG Americas Securities LLC increased its position in QuantumScape by 127.0% in the 4th 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 period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Performance

NYSE QS opened at $4.70 on Wednesday. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $4.86 and its two-hundred day moving average is $5.21. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -5.00 and a beta of 4.45. QuantumScape Co. has a 12-month low of $4.05 and a 12-month high of $9.52.

QuantumScape (NYSE:QS) last released its quarterly earnings data 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 expect that QuantumScape Co. will post -0.82 EPS for the current year.

Insider Activity

In related news, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 76,315 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $399,127.45. Following the sale, the insider now owns 1,010,523 shares in the company, valued at approximately $5,285,035.29. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 277,452 shares of company stock worth $1,542,942 in the last 90 days. 12.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on QS shares. 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 report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.06.

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.