Treasurer of the State of North Carolina Purchases 3,180 Shares of QuantumScape Co. (NYSE:QS)

Treasurer of the State of North Carolina raised its stake in QuantumScape Co. (NYSE:QS) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,579 shares of the company’s stock after buying an additional 3,180 shares during the period. Treasurer of the State of North Carolina’s holdings in QuantumScape were worth $823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in QS. Ieq Capital LLC grew its position in shares of QuantumScape by 2.6% in the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after buying an additional 2,200 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in QuantumScape by 2.0% in the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after purchasing an additional 2,300 shares in the last quarter. Xponance Inc. boosted its stake in shares of QuantumScape by 17.8% during the 4th quarter. Xponance Inc. now owns 15,862 shares of the company’s stock valued at $82,000 after purchasing an additional 2,400 shares in the last quarter. Arizona State Retirement System increased its position in shares of QuantumScape by 2.3% during the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock valued at $578,000 after buying an additional 2,483 shares during the period. Finally, Birchcreek Wealth Management LLC lifted its holdings in QuantumScape by 13.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company’s stock worth $117,000 after buying an additional 2,700 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group cut QuantumScape from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Truist Financial cut their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Finally, The Goldman Sachs Group dropped their price target on QuantumScape from $4.00 to $3.00 and set a “sell” rating on the stock in a research report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.13.

Insider Activity

In related news, insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares in the company, valued at approximately $5,285,035.29. The trade was a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now owns 1,024,325 shares of the company’s stock, valued at approximately $5,183,084.50. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,147 shares of company stock valued at $935,758 in the last quarter. 12.03% of the stock is currently owned by insiders.

QuantumScape Price Performance

QS opened at $3.81 on Friday. 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’s 50-day simple moving average is $4.39 and its two-hundred day simple moving average is $4.97. QuantumScape Co. has a 52-week low of $3.40 and a 52-week high of $9.52. The stock has a market capitalization of $2.08 billion, a P/E ratio of -4.05 and a beta of 4.37.

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

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.