Strategy Asset Managers LLC Takes Position in QuantumScape Co. (NYSE:QS)

Strategy Asset Managers LLC bought a new position in shares of QuantumScape Co. (NYSE:QS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,714 shares of the company’s stock, valued at approximately $108,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of QuantumScape in the 2nd quarter valued at approximately $1,950,000. American Century Companies Inc. grew its holdings in QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in QuantumScape in the first quarter valued at approximately $1,002,000. Finally, Nisa Investment Advisors LLC raised its holdings in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the transaction, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. This represents a 5.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 106,084 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $5.90, for a total value of $625,895.60. Following the sale, the insider now owns 1,181,884 shares of the company’s stock, valued at approximately $6,973,115.60. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 606,197 shares of company stock valued at $3,498,399 over the last 90 days. 12.03% of the stock is currently owned by insiders.

QuantumScape Stock Performance

QS opened at $5.06 on Friday. 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 business’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.74. The firm has a market capitalization of $2.59 billion, a PE ratio of -5.32 and a beta of 4.60. QuantumScape Co. has a 52-week low of $4.65 and a 52-week high of $10.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the company earned ($0.23) EPS. As a group, sell-side analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.26.

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.