Norges Bank Takes Position in QuantumScape Corporation $QS

Norges Bank acquired a new stake in QuantumScape Corporation (NYSE:QS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,813,895 shares of the company’s stock, valued at approximately $29,321,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock valued at $426,793,000 after acquiring an additional 4,323,829 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of QuantumScape by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 8,327,604 shares of the company’s stock valued at $86,794,000 after acquiring an additional 1,189,748 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after acquiring an additional 3,904,168 shares in the last quarter. Two Sigma Investments LP grew its holdings in QuantumScape by 150.1% during the third quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock worth $44,725,000 after purchasing an additional 2,178,918 shares during the period. Finally, Man Group plc bought a new position in QuantumScape during the third quarter worth about $44,421,000. Institutional investors own 29.87% of the company’s stock.

Insider Activity

In related news, CTO Timothy Holme sold 150,320 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $9.30, for a total value of $1,397,976.00. Following the sale, the chief technology officer owned 1,712,506 shares in the company, valued at $15,926,305.80. This represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey B. Straubel sold 27,106 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $6.17, for a total transaction of $167,244.02. Following the completion of the sale, the director owned 158,404 shares in the company, valued at $977,352.68. This represents a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 778,932 shares of company stock worth $6,043,845. Company insiders own 3.93% of the company’s stock.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $7.32 on Wednesday. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a twelve month low of $4.16 and a twelve month high of $19.07. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of -9.04 and a beta of 2.60. The company’s fifty day moving average is $7.51 and its 200 day moving average is $8.79.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. During the same quarter last year, the business posted ($0.21) earnings per share. Sell-side analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

QS has been the subject of a number of research analyst reports. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and reduced their price target for the stock from $10.50 to $8.30 in a report on Wednesday, February 18th. Robert W. Baird set a $12.00 price target on shares of QuantumScape in a research report on Thursday, February 12th. Morgan Stanley decreased their price objective on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Finally, TD Cowen reissued a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, QuantumScape currently has an average rating of “Reduce” and a consensus target price of $11.13.

QuantumScape Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.