393,188 Shares in QuantumScape Co. (NYSE:QS) Bought by DnB Asset Management AS

DnB Asset Management AS bought a new position in shares of QuantumScape Co. (NYSE:QS - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 393,188 shares of the company's stock, valued at approximately $2,041,000. DnB Asset Management AS owned approximately 0.08% of QuantumScape as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Heck Capital Advisors LLC purchased a new position in QuantumScape in the 4th quarter valued at approximately $26,000. Blue Trust Inc. increased its position in shares of QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock valued at $39,000 after buying an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC acquired a new position in shares of QuantumScape during the 4th quarter worth $53,000. Empowered Funds LLC purchased a new stake in shares of QuantumScape in the 4th quarter worth about $53,000. Finally, Essex Financial Services Inc. acquired a new stake in QuantumScape in the 4th quarter valued at about $54,000. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Trading Down 4.4 %

Shares of QS traded down $0.18 on Friday, hitting $3.82. 13,572,334 shares of the stock traded hands, compared to its average volume of 10,591,867. The firm has a market capitalization of $2.09 billion, a P/E ratio of -4.06 and a beta of 4.37. 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 Co. has a 1 year low of $3.53 and a 1 year high of $9.52. The stock's 50 day moving average is $4.70 and its two-hundred day moving average is $5.12.

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QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). As a group, sell-side analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Michael O. Mccarthy III sold 76,315 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 $399,127.45. Following the transaction, the insider now owns 1,010,523 shares in the company, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the sale, the director now owns 228,287 shares of the company's stock, valued at $1,191,658.14. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,147 shares of company stock valued at $935,758. Insiders own 12.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QS. Truist Financial reduced their price target on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.06.

QuantumScape 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.