MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Holdings in QuantumScape Co. (NYSE:QS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of QuantumScape Co. (NYSE:QS - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 790,879 shares of the company's stock after selling 108,472 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.15% of QuantumScape worth $4,105,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of QS. Norges Bank purchased a new position in QuantumScape during the 4th quarter valued at about $17,762,000. Dimensional Fund Advisors LP increased its position in shares of QuantumScape by 55.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after purchasing an additional 2,066,844 shares during the period. Vanguard Group Inc. lifted its stake in shares of QuantumScape by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock valued at $168,367,000 after purchasing an additional 956,072 shares during the period. Centiva Capital LP boosted its holdings in shares of QuantumScape by 479.0% during the fourth quarter. Centiva Capital LP now owns 558,715 shares of the company's stock worth $2,900,000 after acquiring an additional 462,218 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of QuantumScape by 1,091.5% in the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock worth $2,244,000 after purchasing an additional 396,160 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QS. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and cut their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Evercore ISI reissued a "hold" rating on shares of QuantumScape in a research report on Tuesday, February 25th. Robert W. Baird reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group reduced their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. Finally, Truist Financial dropped their price objective on QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, QuantumScape presently has a consensus rating of "Hold" and an average target price of $5.19.

Insiders Place Their Bets

In other news, Director Fritz Prinz sold 61,523 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total transaction of $242,400.62. Following the transaction, the director now directly owns 231,530 shares of the company's stock, valued at approximately $912,228.20. This trade represents a 20.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mohit Singh sold 71,428 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $4.41, for a total transaction of $314,997.48. Following the completion of the transaction, the insider now owns 1,640,998 shares in the company, valued at approximately $7,236,801.18. The trade was a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.03% of the company's stock.

QuantumScape Price Performance

Shares of QuantumScape stock remained flat at $3.97 on Friday. The stock had a trading volume of 9,173,930 shares, compared to its average volume of 11,260,011. The firm has a market capitalization of $2.22 billion, a PE ratio of -4.22 and a beta of 4.38. The company has a fifty day moving average price of $4.04 and a 200 day moving average price of $4.71. 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 Co. has a 52 week low of $3.40 and a 52 week high of $9.52.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the company posted ($0.24) earnings per share. As a group, equities analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current fiscal 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.