QuantumScape Corporation $QS Stock Position Raised by Police & Firemen s Retirement System of New Jersey

Key Points

• Police & Firemen's Retirement System of New Jersey increased its stake in QuantumScape by 18.8%, adding 24,044 shares to hold 152,155 shares worth about $1.02 million at the end of the quarter.
• Company insiders have sold heavily recently—3,268,448 shares valued at roughly $47.47 million in the past 90 days—leaving insiders with 5.48% ownership.
• Analyst sentiment is weak: the average rating is Reduce with a $8.31 average price target, while QuantumScape trades near $11.45 and remains unprofitable (negative EPS/P/E).

Police & Firemen s Retirement System of New Jersey increased its stake in QuantumScape Corporation (NYSE:QS - Free Report) by 18.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 152,155 shares of the company's stock after acquiring an additional 24,044 shares during the quarter. Police & Firemen s Retirement System of New Jersey's holdings in QuantumScape were worth $1,022,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased 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 purchasing an additional 19,764 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of QuantumScape by 9.7% in the first quarter. Victory Capital Management Inc. now owns 48,399 shares of the company's stock worth $201,000 after acquiring an additional 4,293 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of QuantumScape in the first quarter worth approximately $74,000. Cetera Investment Advisers increased its position in shares of QuantumScape by 28.5% in the first quarter. Cetera Investment Advisers now owns 64,169 shares of the company's stock worth $267,000 after acquiring an additional 14,225 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of QuantumScape by 14.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,591 shares of the company's stock valued at $314,000 after acquiring an additional 9,364 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Price Performance

Shares of NYSE:QS opened at $11.45 on Friday. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of -14.14 and a beta of 4.83. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year 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 business has a fifty day simple moving average of $14.49 and a 200 day simple moving average of $9.73.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). During the same period last year, the business earned ($0.23) earnings per share. As a group, sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QS has been the subject of a number of recent analyst reports. HSBC lowered shares of QuantumScape from a "hold" rating to a "reduce" rating and raised their price objective for the stock from $5.30 to $10.50 in a research note on Wednesday. Hsbc Global Res upgraded QuantumScape to a "moderate sell" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the company a "hold" rating in a research report on Thursday, October 23rd. TD Cowen raised their price objective on QuantumScape from $5.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of QuantumScape in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $8.31.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 220,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 1,420,054 shares of the company's stock, valued at $21,428,614.86. The trade was a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey B. Straubel sold 157,180 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the transaction, the director owned 348,146 shares in the company, valued at $3,202,943.20. This represents a 31.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,268,448 shares of company stock valued at $47,474,558 in the last ninety days. 5.48% of the stock is currently owned by insiders.

About QuantumScape

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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