Vanguard Group Inc. Acquires 422,378 Shares of QuantumScape Corporation $QS

Vanguard Group Inc. lifted its holdings in QuantumScape Corporation (NYSE:QS) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 36,635,232 shares of the company’s stock after buying an additional 422,378 shares during the quarter. Vanguard Group Inc. owned 0.06% of QuantumScape worth $451,346,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of QS. Vontobel Holding Ltd. lifted its position in shares of QuantumScape by 0.7% in the third quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock worth $1,488,000 after buying an additional 810 shares during the last quarter. Wedmont Private Capital raised its position in shares of QuantumScape by 5.7% in the third quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock valued at $186,000 after purchasing an additional 815 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in shares of QuantumScape by 67.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after buying an additional 1,005 shares during the period. CWM LLC grew its stake in QuantumScape by 69.1% in the 3rd quarter. CWM LLC now owns 2,625 shares of the company’s stock valued at $32,000 after buying an additional 1,073 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in QuantumScape by 6.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock worth $257,000 after acquiring an additional 1,173 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Price Performance

Shares of QuantumScape stock opened at $7.03 on Thursday. The firm has a market cap of $4.23 billion, a P/E ratio of -8.68 and a beta of 2.52. The firm’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $11.44. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). During the same quarter in the prior year, the company posted ($0.22) earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. As a group, research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QS has been the topic of several research analyst reports. TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Evercore reaffirmed an “in-line” rating and issued a $12.00 target price (up from $8.00) on shares of QuantumScape in a report on Monday, November 24th. Morgan Stanley cut their price target on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and lowered their price objective for the stock from $10.50 to $8.30 in a research note on Wednesday, February 18th. Finally, Robert W. Baird set a $12.00 price target on shares of QuantumScape in a report on Thursday, February 12th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $8.98.

Insider Buying and Selling

In other QuantumScape news, Director Jeffrey B. Straubel sold 27,106 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $7.10, for a total transaction of $192,452.60. Following the sale, the director directly owned 212,616 shares of the company’s stock, valued at approximately $1,509,573.60. This represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Timothy Holme sold 34,120 shares of QuantumScape stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $6.97, for a total transaction of $237,816.40. Following the completion of the transaction, the chief technology officer owned 1,088,228 shares of the company’s stock, valued at $7,584,949.16. This trade represents a 3.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,156,603 shares of company stock worth $45,958,623 in the last quarter. 5.48% of the stock is owned by corporate insiders.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.