Caitong International Asset Management Co. Ltd Raises Stock Holdings in QuantumScape Corporation $QS

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in QuantumScape Corporation by 29,780.8% during the second quarter, now holding 141,934 shares worth approximately $954,000.
• Other institutional investors, including Vanguard Group and UBS AM, also increased their holdings in QuantumScape, demonstrating growing interest among hedge funds in this company.
• Analysts have varying ratings for QuantumScape, with a consensus rating of "Reduce" and an average target price of $6.47 despite some firms adjusting their price targets upward.

Caitong International Asset Management Co. Ltd increased its position in QuantumScape Corporation (NYSE:QS - Free Report) by 29,780.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,934 shares of the company's stock after acquiring an additional 141,459 shares during the period. QuantumScape makes up about 0.7% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its 26th biggest holding. Caitong International Asset Management Co. Ltd's holdings in QuantumScape were worth $954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock worth $147,064,000 after acquiring an additional 2,911,362 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 worth $19,799,000 after acquiring an additional 3,904,168 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in QuantumScape by 21.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961,052 shares of the company's stock worth $3,998,000 after acquiring an additional 170,173 shares during the last quarter. Bank of New York Mellon Corp raised its stake in QuantumScape by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 941,148 shares of the company's stock worth $3,915,000 after acquiring an additional 19,764 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in QuantumScape by 252.6% in the 1st quarter. Quantbot Technologies LP now owns 700,898 shares of the company's stock worth $2,916,000 after acquiring an additional 502,143 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on QS shares. Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of QuantumScape in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the company a "hold" rating in a research note on Thursday. Seven equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $6.47.

QuantumScape Price Performance

Shares of QuantumScape stock opened at $14.69 on Friday. The firm has a market cap of $8.32 billion, a PE ratio of -18.14 and a beta of 4.85. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07. The business has a 50-day moving average price of $11.66 and a 200 day moving average price of $8.03.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.18). The firm had revenue of ($36.67) million during the quarter. During the same quarter last year, the firm posted ($0.23) earnings per share. Sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Timothy Holme sold 44,923 shares of the company's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $15.52, for a total transaction of $697,204.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 9,800 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $13.94, for a total value of $136,612.00. Following the sale, the chief financial officer directly owned 1,591,467 shares in the company, valued at $22,185,049.98. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 827,870 shares of company stock worth $9,399,135 over the last ninety days. Insiders own 5.48% of the company's stock.

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.

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