Invesco Ltd. Purchases 118,710 Shares of QuantumScape Co. (NYSE:QS)

Invesco Ltd. grew its position in shares of QuantumScape Co. (NYSE:QS - Free Report) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,550,012 shares of the company's stock after buying an additional 118,710 shares during the period. Invesco Ltd. owned approximately 0.30% of QuantumScape worth $8,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in QuantumScape by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock worth $168,367,000 after buying an additional 956,072 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of QuantumScape by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company's stock worth $30,538,000 after purchasing an additional 28,073 shares in the last quarter. Norges Bank bought a new position in shares of QuantumScape in the fourth quarter worth $17,762,000. Charles Schwab Investment Management Inc. raised its stake in QuantumScape by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock valued at $12,103,000 after purchasing an additional 104,894 shares in the last quarter. Finally, Swiss National Bank lifted its position in QuantumScape by 2.2% during the fourth quarter. Swiss National Bank now owns 754,700 shares of the company's stock worth $3,917,000 after purchasing an additional 16,500 shares during the period. Institutional investors and hedge funds own 29.87% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QS. The Goldman Sachs Group cut their price target on shares of QuantumScape from $4.00 to $3.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Truist Financial reduced their target price on QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Robert W. Baird lowered their price target on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday. Evercore ISI reiterated 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 stock 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 issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.26.

QuantumScape Stock Down 0.8 %

QuantumScape stock opened at $3.95 on Friday. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.16 billion, a PE ratio of -4.20 and a beta of 4.37. The firm's fifty day moving average is $4.30 and its 200 day moving average is $4.92. QuantumScape Co. has a 12-month low of $3.40 and a 12-month high of $9.52.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, meeting analysts' consensus estimates of ($0.21). During the same period last year, the firm posted ($0.24) earnings per share. As a group, sell-side analysts predict that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In other news, CFO Kevin Hettrich sold 36,949 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now owns 1,024,325 shares in the company, valued at $5,183,084.50. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $67,379.76. Following the completion of the sale, the director now directly 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 have sold 180,147 shares of company stock valued at $935,758. 12.03% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.