Raiffeisen Bank International AG Invests $29,000 in QuantumScape Co. (NYSE:QS)

Raiffeisen Bank International AG purchased a new position in QuantumScape Co. (NYSE:QS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,668 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape in the 4th quarter worth approximately $1,275,000. Raymond James Financial Inc. purchased a new stake in QuantumScape during the fourth quarter valued at approximately $1,527,000. Charles Schwab Investment Management Inc. lifted 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 last quarter. Vanguard Group Inc. lifted its position in QuantumScape by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock valued at $168,367,000 after acquiring an additional 956,072 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in QuantumScape by 1,091.5% during the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock valued at $2,244,000 after acquiring an additional 396,160 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group decreased their target price on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a research report on Monday, April 28th. Truist Financial decreased their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Evercore ISI reissued a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. Robert W. Baird decreased their target price 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. Finally, UBS Group cut shares of QuantumScape from a “neutral” rating to a “sell” rating and decreased their target price for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.19.

Insiders Place Their Bets

In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the sale, the director now owns 228,287 shares in the company, valued at $1,191,658.14. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 76,315 shares of the 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 completion of the sale, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,198 shares of company stock valued at $748,796. Insiders own 12.03% of the company’s stock.

QuantumScape Trading Down 16.1%

NYSE QS opened at $3.97 on Tuesday. The company has a fifty day simple moving average of $4.07 and a two-hundred day simple moving average of $4.74. The stock has a market cap of $2.22 billion, a P/E ratio of -4.22 and a beta of 4.38. QuantumScape Co. has a 12-month low of $3.40 and a 12-month high of $9.52. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its quarterly 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 last year, the firm earned ($0.24) EPS. On average, analysts forecast that QuantumScape Co. will post -0.82 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.