Norges Bank Takes Position in QuantumScape Corporation $QS

Key Points

• Norges Bank disclosed a new fourth-quarter stake in QuantumScape, buying 2,813,895 shares worth about $29.3 million and owning 0.47% of the company.
• Wall Street sentiment remains cautious: six analysts rate QS a Hold, one rates it Sell, and the consensus view is “Reduce” with an average price target of $11.13.
• QuantumScape reported a smaller-than-expected loss of ($0.16) EPS in its latest quarter, while insiders have recently sold shares, including notable sales by Mohit Singh and Jeffrey B. Straubel.

Norges Bank purchased a new stake in QuantumScape Corporation (NYSE:QS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,813,895 shares of the company's stock, valued at approximately $29,321,000. Norges Bank owned 0.47% of QuantumScape as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in QuantumScape during the 1st quarter worth $321,000. NewEdge Advisors LLC raised its stake in QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock worth $88,000 after buying an additional 7,111 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in QuantumScape by 456.5% during 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 buying an additional 3,904,168 shares during the period. Prudential Financial Inc. raised its stake in QuantumScape by 41.4% during the 2nd quarter. Prudential Financial Inc. now owns 31,439 shares of the company's stock worth $211,000 after buying an additional 9,210 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after buying an additional 3,311 shares during the period. Institutional investors and hedge funds own 29.87% of the company's stock.

Wall Street Analysts Forecast Growth

QS has been the topic of several research analyst reports. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and dropped their price objective for the stock from $10.50 to $8.30 in a research note on Wednesday, February 18th. Morgan Stanley dropped their price objective on QuantumScape from $12.00 to $8.50 and set an "equal weight" rating on the stock in a research note on Wednesday, February 18th. TD Cowen reaffirmed a "hold" rating on shares of QuantumScape in a research note on Wednesday, February 18th. Finally, Robert W. Baird set a $12.00 price objective on QuantumScape in a research note on Thursday, February 12th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, QuantumScape presently has a consensus rating of "Reduce" and an average target price of $11.13.

QuantumScape Price Performance

QS stock opened at $7.32 on Wednesday. The stock has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $8.79. The stock has a market cap of $4.50 billion, a PE ratio of -9.04 and a beta of 2.60. 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 $4.16 and a 1 year high of $19.07.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. During the same period in the prior year, the firm posted ($0.21) EPS. Equities analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, insider Mohit Singh sold 50,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $7.87, for a total transaction of $393,500.00. Following the completion of the transaction, the insider owned 1,803,035 shares in the company, valued at approximately $14,189,885.45. This represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey B. Straubel sold 27,106 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $6.17, for a total value of $167,244.02. Following the transaction, the director owned 158,404 shares of the company's stock, valued at approximately $977,352.68. This trade represents a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 778,932 shares of company stock worth $6,043,845. Corporate insiders own 3.93% of the company's stock.

QuantumScape Company Profile

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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