Mirae Asset Global Investments Co. Ltd. Sells 2,643,909 Shares of QuantumScape Co. (NYSE:QS)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of QuantumScape Co. (NYSE:QS - Free Report) by 67.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,251,070 shares of the company's stock after selling 2,643,909 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.26% of QuantumScape worth $8,695,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of QuantumScape by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company's stock worth $194,221,000 after buying an additional 5,483,319 shares during the period. BlackRock Inc. boosted its holdings in shares of QuantumScape by 9.7% during the second quarter. BlackRock Inc. now owns 13,035,638 shares of the company's stock worth $104,155,000 after acquiring an additional 1,148,137 shares during the period. Morgan Stanley grew its position in shares of QuantumScape by 52.1% in the third quarter. Morgan Stanley now owns 4,310,857 shares of the company's stock valued at $28,840,000 after purchasing an additional 1,476,799 shares during the last quarter. State Street Corp increased its stake in shares of QuantumScape by 4.9% during the second quarter. State Street Corp now owns 4,233,576 shares of the company's stock worth $33,826,000 after purchasing an additional 198,244 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in QuantumScape by 9.2% during the 2nd quarter. Geode Capital Management LLC now owns 4,115,749 shares of the company's stock worth $32,885,000 after purchasing an additional 348,329 shares during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of research reports. William Blair assumed coverage on QuantumScape in a report on Monday, December 18th. They issued a "market perform" rating on the stock. Robert W. Baird upped their price target on shares of QuantumScape from $5.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Finally, Truist Financial lifted their price objective on shares of QuantumScape from $7.00 to $8.00 and gave the stock a "hold" rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, QuantumScape has an average rating of "Hold" and an average target price of $6.71.

QuantumScape Price Performance

Shares of QuantumScape stock traded down $0.24 on Friday, reaching $5.81. 5,362,645 shares of the stock were exchanged, compared to its average volume of 5,458,903. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The firm has a market cap of $2.88 billion, a PE ratio of -6.05 and a beta of 4.76. The firm's 50 day moving average is $6.32 and its 200-day moving average is $6.49. QuantumScape Co. has a one year low of $4.99 and a one year high of $13.86.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter last year, the business posted ($0.25) EPS. As a group, analysts anticipate that QuantumScape Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the completion of the transaction, the chief financial officer now owns 1,178,512 shares of the company's stock, valued at $7,236,063.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael O. Mccarthy III sold 21,840 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the sale, the insider now owns 731,629 shares of the company's stock, valued at approximately $4,514,150.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the company's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $6.14, for a total value of $212,486.98. Following the completion of the transaction, the chief financial officer now directly owns 1,178,512 shares of the company's stock, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,970 shares of company stock valued at $1,250,775. Corporate insiders own 10.18% 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.