UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in QuantumScape Co. (NYSE:QS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in QuantumScape Co. (NYSE:QS) by 27.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 855,166 shares of the company’s stock after selling 324,836 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in QuantumScape were worth $4,438,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape in the 4th quarter valued at $1,275,000. Raymond James Financial Inc. purchased a new stake in shares of QuantumScape in the 4th quarter valued at $1,527,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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. raised its holdings in QuantumScape by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock valued at $168,367,000 after buying an additional 956,072 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in QuantumScape by 1,091.5% during the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock valued at $2,244,000 after buying an additional 396,160 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Activity

In other news, Director Fritz Prinz sold 61,523 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total value of $242,400.62. Following the transaction, the director now owns 231,530 shares in the company, valued at $912,228.20. This represents a 20.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Singh sold 71,428 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $4.41, for a total transaction of $314,997.48. Following the completion of the transaction, the insider now owns 1,640,998 shares in the company, valued at $7,236,801.18. This trade represents a 4.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 12.03% of the company’s stock.

Analyst Ratings Changes

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

QuantumScape Stock Performance

Shares of QS stock opened at $4.09 on Wednesday. QuantumScape Co. has a one year low of $3.40 and a one year high of $9.52. The company’s 50-day moving average is $3.97 and its 200 day moving average is $4.67. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -4.35 and a beta of 4.38. 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 announced its quarterly 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 quarter in the previous year, the firm earned ($0.24) EPS. Sell-side analysts expect that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

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.