Mercer Global Advisors Inc. ADV Grows Holdings in QuantumScape Co. (NYSE:QS)

Mercer Global Advisors Inc. ADV raised its position in QuantumScape Co. (NYSE:QS) by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,199 shares of the company’s stock after purchasing an additional 2,997 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in QuantumScape were worth $94,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in QuantumScape in the 4th quarter valued at about $1,275,000. Raymond James Financial Inc. purchased a new position in QuantumScape in the 4th quarter valued at about $1,527,000. Charles Schwab Investment Management Inc. lifted its holdings in QuantumScape by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock valued at $12,103,000 after purchasing an additional 104,894 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of QuantumScape by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock worth $168,367,000 after acquiring an additional 956,072 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of QuantumScape by 1,091.5% during the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock worth $2,244,000 after acquiring an additional 396,160 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Stock Up 10.9%

QS opened at $4.73 on Friday. The firm has a 50 day moving average price of $4.08 and a 200 day moving average price of $4.75. The company has a market cap of $2.64 billion, a PE ratio of -5.03 and a beta of 4.38. QuantumScape Co. has a 1 year low of $3.40 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same period in the previous year, the business earned ($0.24) EPS. Sell-side analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the sale, the director now owns 228,287 shares of the company’s stock, valued at $1,191,658.14. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Hettrich sold 53,975 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $282,289.25. Following the completion of the sale, the chief financial officer now directly owns 930,800 shares of the company’s stock, valued at $4,868,084. This trade represents a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,198 shares of company stock valued at $748,796 over the last 90 days. 12.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QS. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. The Goldman Sachs Group cut their price objective on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, April 28th. Truist Financial cut their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. UBS Group lowered shares of QuantumScape from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, Robert W. Baird cut their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.19.

QuantumScape 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.