Amundi Has $12.53 Million Position in QuantumScape Corporation $QS

Key Points

• Amundi reduced its QuantumScape stake by 13.1% in the first quarter, selling 295,253 shares and retaining 1,964,515 shares valued at approximately $12.53 million. Institutional investors own about 29.87% of the company.
• Analyst sentiment remains cautious: TD Cowen cut its price target from $8 to $6 and maintained a “hold” rating, while the broader consensus is “Reduce” with a $9.47 target price.
• QuantumScape shares opened at $5.69, well below their 52-week high of $19.07. The company reported a quarterly loss of $0.16 per share, beating estimates of a $0.18 loss, while insiders have sold 687,540 shares worth approximately $5.57 million over the past three months.

Amundi lowered its stake in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 13.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,964,515 shares of the company's stock after selling 295,253 shares during the quarter. Amundi owned approximately 0.32% of QuantumScape worth $12,534,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 purchasing an additional 4,323,829 shares during the period. Morgan Stanley increased its stake in shares of QuantumScape by 333.5% in the 4th quarter. Morgan Stanley now owns 11,126,497 shares of the company's stock valued at $115,938,000 after acquiring an additional 8,559,554 shares during the last quarter. Geode Capital Management LLC increased its stake 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 during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of QuantumScape in the 4th quarter valued at approximately $84,584,000. Finally, State Street Corp raised its position in shares of QuantumScape by 7.6% in the 4th quarter. State Street Corp now owns 7,500,503 shares of the company's stock valued at $78,155,000 after acquiring an additional 529,602 shares during the period. 29.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, TD Cowen reduced their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "hold" rating on the stock in a research note 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. According to data from MarketBeat.com, QuantumScape presently has an average rating of "Reduce" and a consensus target price of $9.47.

QuantumScape Price Performance

Shares of NYSE QS opened at $5.69 on Wednesday. The firm has a market cap of $3.52 billion, a PE ratio of -7.02 and a beta of 2.61. 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 Corporation has a 1-year low of $4.77 and a 1-year high of $19.07. The company has a fifty day moving average price of $6.95 and a 200 day moving average price of $7.40.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.20) EPS. Research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In other QuantumScape news, CTO Timothy Holme sold 34,254 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $249,369.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Hettrich sold 9,800 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $71,344.00. Following the transaction, the chief financial officer directly owned 1,816,257 shares in the company, valued at $13,222,350.96. This trade represents a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 687,540 shares of company stock worth $5,573,615 over the last three months. Insiders own 3.93% of the company's stock.

About QuantumScape

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.

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