Optas LLC Takes Position in QuantumScape Co. (NYSE:QS)

Optas LLC purchased a new stake in QuantumScape Co. (NYSE:QS) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 15,222 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Y Intercept Hong Kong Ltd acquired a new position in QuantumScape during the fourth quarter worth approximately $1,275,000. Raymond James Financial Inc. acquired a new position in QuantumScape in the fourth quarter valued at $1,527,000. Charles Schwab Investment Management Inc. grew its position in QuantumScape by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock valued at $12,103,000 after acquiring an additional 104,894 shares during the period. Vanguard Group Inc. increased its stake in QuantumScape by 3.0% during the fourth 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 last quarter. Finally, American Century Companies Inc. raised its holdings in shares of QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock worth $2,244,000 after purchasing an additional 396,160 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling at QuantumScape

In other news, Director Fritz Prinz sold 61,523 shares of the company’s 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 completion of the sale, the director now directly owns 231,530 shares of the company’s stock, valued at approximately $912,228.20. This represents a 20.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mohit Singh sold 71,428 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $4.41, for a total value of $314,997.48. Following the transaction, the insider now directly owns 1,640,998 shares of the company’s stock, valued at approximately $7,236,801.18. The trade was a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.03% of the stock is owned by company insiders.

QuantumScape Stock Up 2.9%

NYSE:QS opened at $4.47 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -4.75 and a beta of 4.27. QuantumScape Co. has a one year low of $3.40 and a one year high of $9.52. The stock has a 50-day simple moving average of $4.05 and a 200 day simple moving average of $4.62.

QuantumScape (NYSE:QS) last issued 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 company earned ($0.24) EPS. Sell-side analysts predict that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QS. The Goldman Sachs Group decreased their target price on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. Robert W. Baird dropped their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. UBS Group lowered QuantumScape from a “neutral” rating to a “sell” rating and cut their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus price target 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.