MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Position in QuantumScape Co. (NYSE:QS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its stake in QuantumScape Co. (NYSE:QS - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 790,879 shares of the company's stock after selling 108,472 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.15% of QuantumScape worth $4,105,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in QuantumScape in the fourth quarter valued at approximately $26,000. Blue Trust Inc. grew its holdings in QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock valued at $39,000 after purchasing an additional 4,556 shares during the period. Empowered Funds LLC purchased a new stake in QuantumScape in the fourth quarter valued at approximately $53,000. Atlas Legacy Advisors LLC purchased a new stake in QuantumScape in the fourth quarter valued at approximately $53,000. Finally, Essex Financial Services Inc. purchased a new stake in QuantumScape in the fourth quarter valued at approximately $54,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

QuantumScape Trading Down 16.1%

NYSE QS opened at $3.97 on Tuesday. The company's fifty day simple moving average is $4.07 and its 200-day simple moving average is $4.74. QuantumScape Co. has a 52 week low of $3.40 and a 52 week high of $9.52. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.22 billion, a P/E ratio of -4.22 and a beta of 4.38.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period last year, the business earned ($0.24) EPS. Equities research analysts predict that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In related news, insider Michael O. Mccarthy III sold 76,315 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the sale, the insider now directly owns 1,010,523 shares of the company's stock, valued at $5,285,035.29. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 53,975 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $282,289.25. Following the completion of the sale, the chief financial officer now directly owns 930,800 shares in the company, valued at $4,868,084. This represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,198 shares of company stock valued at $748,796. Corporate insiders own 12.03% of the company's stock.

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.

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