Geode Capital Management LLC Grows Stake in QuantumScape Co. (NYSE:QS)

Geode Capital Management LLC grew its stake in shares of QuantumScape Co. (NYSE:QS) by 0.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,882,031 shares of the company’s stock after acquiring an additional 28,073 shares during the period. Geode Capital Management LLC’s holdings in QuantumScape were worth $30,538,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of QuantumScape in the 4th quarter worth $26,000. Blue Trust Inc. boosted its position in shares of QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after buying an additional 4,556 shares during the last quarter. Atlas Legacy Advisors LLC bought a new stake in QuantumScape in the 4th quarter worth about $53,000. Empowered Funds LLC bought a new stake in QuantumScape in the 4th quarter worth about $53,000. Finally, Essex Financial Services Inc. purchased a new position in QuantumScape in the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Down 2.6 %

QS opened at $3.69 on Thursday. The firm’s 50 day simple moving average is $4.44 and its two-hundred day simple moving average is $4.99. The company has a market capitalization of $2.02 billion, a PE ratio of -3.93 and a beta of 4.37. QuantumScape Co. has a 1-year low of $3.40 and a 1-year high of $9.52. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, equities analysts forecast that QuantumScape Co. will post -0.82 EPS for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the sale, the chief financial officer now directly owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 76,315 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $399,127.45. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 180,147 shares of company stock valued at $935,758 over the last quarter. 12.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QS. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. The Goldman Sachs Group dropped their target price on shares of QuantumScape from $4.00 to $3.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Truist Financial decreased 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. Finally, UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.13.

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.