Handelsbanken Fonder AB Purchases 28,000 Shares of QuantumScape Co. (NYSE:QS)

Handelsbanken Fonder AB lifted its stake in shares of QuantumScape Co. (NYSE:QS) by 66.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,100 shares of the company’s stock after purchasing an additional 28,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in QuantumScape were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Citigroup Inc. lifted its position in QuantumScape by 97.7% in the 3rd quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after acquiring an additional 51,934 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its position in QuantumScape by 34.5% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock valued at $77,000 after acquiring an additional 2,861 shares in the last quarter. Scotia Capital Inc. bought a new position in QuantumScape in the 3rd quarter valued at about $95,000. HBK Sorce Advisory LLC lifted its position in QuantumScape by 11.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock valued at $150,000 after acquiring an additional 2,264 shares in the last quarter. Finally, Simplicity Solutions LLC bought a new position in QuantumScape in the 4th quarter valued at about $719,000. Institutional investors own 29.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. UBS Group decreased their price objective on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Truist Financial decreased their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, QuantumScape has a consensus rating of “Hold” and an average target price of $6.09.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the sale, the chief financial officer now owns 1,178,512 shares in the company, valued at $7,236,063.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the sale, the insider now owns 731,629 shares in the company, valued at $4,514,150.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the sale, the chief financial officer now owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. Insiders sold a total of 194,970 shares of company stock valued at $1,250,775 over the last three months. Corporate insiders own 10.18% of the company’s stock.

QuantumScape Price Performance

Shares of NYSE:QS opened at $5.41 on Thursday. The stock has a market cap of $2.68 billion, a PE ratio of -5.63 and a beta of 4.76. The company’s fifty day moving average is $5.88 and its 200 day moving average is $6.41. QuantumScape Co. has a 52 week low of $4.92 and a 52 week high of $13.86. The company has a quick ratio of 18.98, a current ratio of 10.38 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the company earned ($0.25) EPS. Research analysts anticipate that QuantumScape Co. will post -0.95 earnings per share for the current year.

QuantumScape Company 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.