KLP Kapitalforvaltning AS Purchases Shares of 77,700 QuantumScape Co. (NYSE:QS)

KLP Kapitalforvaltning AS bought a new stake in QuantumScape Co. (NYSE:QS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 77,700 shares of the company's stock, valued at approximately $403,000.

A number of other institutional investors have also modified their holdings of QS. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape during the fourth quarter worth $26,000. Blue Trust Inc. lifted its stake in shares of QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock worth $39,000 after acquiring an additional 4,556 shares during the period. Atlas Legacy Advisors LLC purchased a new stake in shares of QuantumScape in the fourth quarter valued at about $53,000. Empowered Funds LLC acquired a new position in shares of QuantumScape during the fourth quarter worth about $53,000. Finally, Essex Financial Services Inc. purchased a new position in QuantumScape during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 29.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on QS shares. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. Truist Financial dropped their price objective on QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.06.

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Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 36,949 shares of QuantumScape stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $5.06, for a total transaction of $186,961.94. Following the completion of the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 76,315 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares in the company, valued at $5,285,035.29. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,147 shares of company stock worth $935,758. 12.03% of the stock is owned by insiders.

QuantumScape Price Performance

NYSE QS traded up $0.57 during mid-day trading on Wednesday, hitting $4.04. The stock had a trading volume of 18,532,462 shares, compared to its average volume of 10,676,741. The company has a 50 day simple moving average of $4.56 and a 200 day simple moving average of $5.06. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -4.29 and a beta of 4.37. QuantumScape Co. has a 52-week low of $3.40 and a 52-week high of $9.52. 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 - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Equities analysts forecast that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

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.