State of New Jersey Common Pension Fund D Raises Stake in QuantumScape Co. (NYSE:QS)

State of New Jersey Common Pension Fund D increased its stake in QuantumScape Co. (NYSE:QS) by 1.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 330,596 shares of the company’s stock after buying an additional 5,448 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in QuantumScape were worth $1,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after buying an additional 656,646 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after purchasing an additional 25,347 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after purchasing an additional 11,897 shares during the last quarter. Swiss National Bank lifted its holdings in QuantumScape by 9.3% during the first quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after purchasing an additional 58,000 shares during the last quarter. Finally, Private Advisory Group LLC lifted its holdings in QuantumScape by 7.2% during the second quarter. Private Advisory Group LLC now owns 570,704 shares of the company’s stock valued at $2,808,000 after purchasing an additional 38,477 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jurgen Leohold sold 17,435 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.00, for a total value of $104,610.00. Following the completion of the transaction, the director now owns 194,904 shares in the company, valued at approximately $1,169,424. This represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Timothy Holme sold 44,306 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total value of $270,709.66. Following the completion of the transaction, the chief technology officer now owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 713,986 shares of company stock worth $4,148,984 over the last ninety days. Insiders own 12.03% of the company’s stock.

QuantumScape Trading Down 2.3 %

Shares of QS opened at $4.74 on Monday. The business’s 50-day moving average price is $5.49 and its 200-day moving average price is $5.76. QuantumScape Co. has a twelve month low of $4.67 and a twelve month high of $10.03. The stock has a market cap of $2.43 billion, a PE ratio of -4.99 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the company posted ($0.23) EPS. On average, equities analysts forecast that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on QS. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.14.

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.