Swiss National Bank Purchases 15,100 Shares of QuantumScape Corporation $QS

Swiss National Bank increased its position in shares of QuantumScape Corporation (NYSE:QS) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 769,800 shares of the company’s stock after buying an additional 15,100 shares during the period. Swiss National Bank owned about 0.14% of QuantumScape worth $5,173,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Perbak Capital Partners LLP bought a new stake in shares of QuantumScape in the 1st quarter valued at about $353,000. Nuveen LLC purchased a new position in QuantumScape during the first quarter valued at approximately $2,819,000. Thames Capital Management LLC bought a new position in QuantumScape in the second quarter worth approximately $2,792,000. CacheTech Inc. purchased a new stake in QuantumScape during the first quarter worth $130,000. Finally, 111 Capital bought a new stake in QuantumScape during the 2nd quarter valued at $131,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CTO Timothy Holme sold 201,785 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total value of $2,524,330.35. Following the completion of the transaction, the chief technology officer directly owned 1,251,383 shares in the company, valued at $15,654,801.33. This trade represents a 13.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brad W. Buss sold 400,000 shares of QuantumScape stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $15.75, for a total value of $6,300,000.00. Following the sale, the director directly owned 122,476 shares of the company’s stock, valued at $1,928,997. This trade represents a 76.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,354,663 shares of company stock worth $48,479,214 over the last three months. Corporate insiders own 5.48% of the company’s stock.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $11.74 on Tuesday. The firm has a market capitalization of $7.06 billion, a P/E ratio of -14.49 and a beta of 2.76. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $19.07. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $14.53 and a 200 day moving average price of $10.10.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same quarter last year, the business posted ($0.23) EPS. Sell-side analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Analysts Set New Price Targets

QS has been the subject of several recent research reports. Cowen reissued a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. HSBC downgraded shares of QuantumScape from a “hold” rating to a “reduce” rating and boosted their target price for the stock from $5.30 to $10.50 in a report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Evercore ISI reiterated an “in-line” rating and set a $12.00 price objective (up previously from $8.00) on shares of QuantumScape in a research note on Monday, November 24th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “moderate sell” rating in a research note on Wednesday, November 19th. Six analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $8.81.

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.