QuantumScape Corporation $QS Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in QuantumScape Corporation (NYSE:QS) by 145.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,800 shares of the company’s stock after purchasing an additional 183,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.05% of QuantumScape worth $2,335,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in QS. AQR Capital Management LLC purchased a new stake in shares of QuantumScape during the 1st quarter valued at $321,000. NewEdge Advisors LLC grew its stake in QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock worth $88,000 after buying an additional 7,111 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in QuantumScape by 456.5% during 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 buying an additional 3,904,168 shares in the last quarter. Prudential Financial Inc. increased its position in QuantumScape by 41.4% during the 2nd quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock valued at $211,000 after buying an additional 9,210 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $6.19 on Monday. The firm’s 50 day simple moving average is $6.50 and its two-hundred day simple moving average is $7.15. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -7.64 and a beta of 2.66. QuantumScape Corporation has a 12-month low of $4.77 and a 12-month high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned ($0.20) earnings per share. Analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Activity

In related news, CFO Kevin Hettrich sold 9,800 shares of QuantumScape stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total transaction of $71,344.00. Following the completion of the sale, the chief financial officer owned 1,816,257 shares of the company’s stock, valued at $13,222,350.96. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Timothy Holme sold 34,254 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $7.28, for a total value of $249,369.12. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 660,434 shares of company stock worth $5,360,833. Company insiders own 3.93% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen lowered their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.47.

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.