QuantumScape Co. (NYSE:QS) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lowered its position in shares of QuantumScape Co. (NYSE:QS - Free Report) by 43.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,736,925 shares of the company's stock after selling 2,081,149 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.53% of QuantumScape worth $14,205,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers raised its holdings in QuantumScape by 17.3% during the fourth quarter. Cetera Investment Advisers now owns 49,944 shares of the company's stock worth $259,000 after purchasing an additional 7,380 shares in the last quarter. Centiva Capital LP raised its stake in shares of QuantumScape by 479.0% during the 4th quarter. Centiva Capital LP now owns 558,715 shares of the company's stock worth $2,900,000 after buying an additional 462,218 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of QuantumScape in the 4th quarter valued at approximately $79,000. Captrust Financial Advisors purchased a new stake in shares of QuantumScape in the fourth quarter valued at approximately $156,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of QuantumScape by 19.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company's stock valued at $94,000 after buying an additional 2,997 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

QuantumScape Stock Performance

Shares of QS opened at $4.30 on Wednesday. QuantumScape Co. has a 12-month low of $3.40 and a 12-month high of $9.52. The stock has a market cap of $2.40 billion, a P/E ratio of -4.57 and a beta of 4.38. 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 company has a 50-day moving average of $4.07 and a two-hundred day moving average of $4.78.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the business posted ($0.24) earnings per share. As a group, research analysts predict that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at QuantumScape

In other news, CFO Kevin Hettrich sold 53,975 shares of QuantumScape stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the completion of the sale, the chief financial officer now owns 930,800 shares of the company's stock, valued at $4,868,084. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the transaction, the director now owns 228,287 shares of the company's stock, valued at $1,191,658.14. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,198 shares of company stock valued at $748,796. 12.03% of the stock is 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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