QuantumScape Co. (NYSE:QS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of QuantumScape Co. (NYSE:QS - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 855,166 shares of the company's stock after selling 324,836 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of QuantumScape worth $4,438,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ieq Capital LLC lifted its stake in QuantumScape by 2.6% during the fourth quarter. Ieq Capital LLC now owns 87,370 shares of the company's stock worth $453,000 after purchasing an additional 2,200 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in QuantumScape by 2.0% in the fourth quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company's stock valued at $595,000 after buying an additional 2,300 shares during the last quarter. Xponance Inc. lifted its stake in QuantumScape by 17.8% in the fourth quarter. Xponance Inc. now owns 15,862 shares of the company's stock valued at $82,000 after buying an additional 2,400 shares during the last quarter. Arizona State Retirement System lifted its stake in QuantumScape by 2.3% in the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock valued at $578,000 after buying an additional 2,483 shares during the last quarter. Finally, Birchcreek Wealth Management LLC lifted its stake in QuantumScape by 13.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company's stock valued at $117,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Stock Performance

Shares of QuantumScape stock traded down $0.28 during trading hours on Thursday, hitting $3.98. 10,547,681 shares of the company were exchanged, compared to its average volume of 11,439,632. QuantumScape Co. has a 1 year low of $3.40 and a 1 year 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 business has a 50-day moving average of $3.97 and a 200-day moving average of $4.67. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -4.23 and a beta of 4.27.

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

Insider Buying and Selling

In other news, Director Fritz Prinz sold 61,523 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total value of $242,400.62. Following the sale, the director now directly owns 231,530 shares in the company, valued at $912,228.20. This represents a 20.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mohit Singh sold 71,428 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $4.41, for a total value of $314,997.48. Following the transaction, the insider now owns 1,640,998 shares in the company, valued at $7,236,801.18. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.