Norges Bank Acquires New Stake in QuantumScape Corporation $QS

Key Points

• Norges Bank purchased 338,161 shares of QuantumScape (~$2.27M) in Q2 and ended the quarter owning 0.06% of the company, while overall institutional investors hold about 29.87% of the stock.
• Significant insider selling has occurred recently — CTO Timothy Holme sold 201,785 shares and Mohit Singh sold 220,000 shares, with insiders selling 3,321,506 shares worth ~$49.25M over the past 90 days and now owning 5.48% of the company.
• QS shares trade near $12.47 with a 12‑month range of $3.40–$19.07 and a market cap of ~$7.5B; analysts have an average rating of "Reduce" and a consensus target price of $9.17.

Norges Bank acquired a new stake in shares of QuantumScape Corporation (NYSE:QS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 338,161 shares of the company's stock, valued at approximately $2,272,000. Norges Bank owned 0.06% of QuantumScape at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Level Four Advisory Services LLC purchased a new position in shares of QuantumScape during the 2nd quarter valued at $103,000. Capital Fund Management S.A. bought a new stake in QuantumScape in the 2nd quarter valued at about $3,629,000. Russell Investments Group Ltd. lifted its holdings in QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after purchasing an additional 3,311 shares during the last quarter. Himension Capital Singapore PTE. LTD. purchased a new stake in QuantumScape during the second quarter valued at about $510,000. Finally, XTX Topco Ltd bought a new position in QuantumScape during the second quarter worth about $2,505,000. 29.87% of the stock is currently owned by institutional investors.

Insider Transactions at QuantumScape

In related news, CTO Timothy Holme sold 201,785 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total value of $2,524,330.35. Following the transaction, the chief technology officer owned 1,251,383 shares of the company's stock, valued at $15,654,801.33. This represents a 13.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mohit Singh sold 220,000 shares of the firm's stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $15.09, for a total value of $3,319,800.00. Following the sale, the insider owned 1,420,054 shares in the company, valued at $21,428,614.86. The trade was a 13.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,321,506 shares of company stock worth $49,253,699. Company insiders own 5.48% of the company's stock.

QuantumScape Stock Performance

Shares of QS opened at $12.47 on Thursday. QuantumScape Corporation has a 12-month low of $3.40 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. The company has a market cap of $7.50 billion, a PE ratio of -15.40 and a beta of 2.76. The stock has a 50-day moving average price of $14.48 and a 200-day moving average price of $10.47.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.18). During the same quarter in the previous year, the company earned ($0.23) earnings per share. As a group, equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QS has been the topic of a number of recent research reports. Cowen restated a "hold" rating on shares of QuantumScape in a research note on Thursday, October 30th. Evercore ISI reissued an "in-line" rating and set a $12.00 target price (up previously from $8.00) on shares of QuantumScape in a report on Monday, November 24th. TD Cowen increased their target price on QuantumScape from $5.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the stock a "hold" rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of QuantumScape in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, QuantumScape currently has an average rating of "Reduce" and a consensus target price of $9.17.

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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