New York State Common Retirement Fund Purchases 48,500 Shares of QuantumScape Corporation $QS

New York State Common Retirement Fund lifted its position in QuantumScape Corporation (NYSE:QS) by 27.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,878 shares of the company’s stock after acquiring an additional 48,500 shares during the quarter. New York State Common Retirement Fund’s holdings in QuantumScape were worth $1,511,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its holdings in QuantumScape by 28.5% during the 1st 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. Federated Hermes Inc. lifted its position in shares of QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after purchasing an additional 5,438 shares during the period. Vanguard Group Inc. boosted its stake in shares of QuantumScape by 9.0% during the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock valued at $147,064,000 after purchasing an additional 2,911,362 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of QuantumScape during the first quarter valued at approximately $50,000. Finally, Townsquare Capital LLC increased its holdings in QuantumScape by 150.9% during the first quarter. Townsquare Capital LLC now owns 85,167 shares of the company’s stock valued at $354,000 after buying an additional 51,218 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QS. Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. TD Cowen boosted their price target on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Hsbc Global Res upgraded QuantumScape to a “moderate sell” rating in a research note on Wednesday, November 19th. Cowen reiterated a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Finally, Morgan Stanley began coverage on shares of QuantumScape in a report on Monday. They issued an “equal weight” rating and a $12.00 target price for the company. Seven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Reduce” and an average price target of $9.17.

QuantumScape Stock Up 1.2%

QuantumScape stock opened at $12.75 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of -15.74 and a beta of 2.76. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The business has a fifty day moving average price of $14.52 and a 200-day moving average price of $10.46.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). During the same period last year, the business earned ($0.23) EPS. Equities research analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, CTO Timothy Holme sold 201,785 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $12.51, for a total transaction of $2,524,330.35. Following the transaction, the chief technology officer owned 1,251,383 shares in the company, valued at approximately $15,654,801.33. This represents a 13.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brad W. Buss sold 400,000 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.75, for a total transaction of $6,300,000.00. Following the completion of the transaction, the director directly owned 122,476 shares of the company’s stock, valued at approximately $1,928,997. This represents a 76.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,321,506 shares of company stock worth $49,253,699 over the last ninety days. 5.48% of the stock is currently owned by insiders.

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.