Geode Capital Management Increases Stake in QuantumScape Co.

Geode Capital Management LLC has increased its investment in QuantumScape Co. (NYSE:QS) by 3.9% during the third quarter of the year, as reported by Holdings Channel. As a result of this move, Geode now owns a total of 5,853,958 shares after acquiring an additional 218,743 shares during the quarter. The value of Geode Capital Management's holdings in QuantumScape is approximately $33,671,000 based on its latest SEC filing.

Additionally, various other institutional investors have made adjustments to their positions in QuantumScape. For instance, State Street Corp raised its stake by 1.5% in the third quarter, bringing its total ownership to 5,918,496 shares worth $34,031,000 after purchasing an extra 87,563 shares in the last quarter. Charles Schwab Investment Management Inc. also increased its holdings by 4.4%, now owning 2,227,072 shares valued at $12,806,000 after buying 93,826 shares in the third quarter.

UBS AM, a distinct branch of UBS Asset Management Americas LLC, enhanced its investment in QuantumScape by 8.7%, now holding 1,180,002 shares valued at $6,785,000, following the acquisition of 94,103 shares during the period. Moreover, Bank of New York Mellon Corp lifted its stake in QuantumScape by 1.3%, now possessing 930,614 shares valued at $4,579,000 after securing an additional 11,897 shares in the second quarter.

Arthedge Capital Management LLC experienced growth in its holdings of QuantumScape by 14.6%, now owning 723,000 shares worth $4,157,000 after purchasing an extra 92,000 shares in the recent quarter. Currently, institutional investors and hedge funds collectively own 29.87% of QuantumScape's stock.

Analyst Opinions

Recent evaluations by equity research analysts on QuantumScape shares show a variety of ratings. HSBC upgraded the stock from a 'reduce' to a 'hold' rating, assigning a price target of $5.30 in a report published on November 19. Truist Financial also kept a 'hold' rating while increasing its target price from $6.00 to $7.00 on October 25. Furthermore, Wolfe Research has begun coverage of QuantumScape with an 'underperform' rating. Other analysts, including HSBC Global Research and Deutsche Bank Aktiengesellschaft, have echoed similar sentiments, reaffirming 'hold' ratings and suggesting target prices around the $6 mark. Based on MarketBeat data, one analyst has issued a sell recommendation, while six assigned a hold rating to the shares, resulting in an average target price of $6.26.

Insider Transactions

A couple of insider transactions have been reported in relation to QuantumScape. CFO Kevin Hettrich sold 34,607 shares on October 9 at an average price of $5.49, totaling $189,992.43. Following this transaction, Hettrich's remaining shares amount to 1,073,022, valued at about $5,890,890.78, reflecting a 3.12% decrease in their ownership. Additionally, Director Jagdeep Singh sold 308,097 shares on December 9 at an average price of $5.30 for a total of $1,632,914.10. Post-transaction, Singh holds 2,563,767 shares worth approximately $13,587,965.10, marking a 10.73% reduction in their stake. Insiders have sold a total of 666,032 shares valued at $3,549,682 over the last 90 days, with insiders retaining 12.03% of the company's stock.

QuantumScape Stock Performance

As of the last trading session, QuantumScape stock opened at $5.37. The company's fifty-day moving average stands at $5.15, while the 200-day average is $5.64. QuantumScape has a market capitalization of $2.75 billion and an unfavorable P/E ratio of -5.65, indicating significant volatility with a beta of 4.50. The stock has experienced a twelve-month low of $4.65 and a high of $10.03. Further financial metrics reveal a quick ratio and current ratio both at 14.07, alongside a debt-to-equity ratio of 0.03.

QuantumScape released its earnings results on October 23, reporting earnings per share (EPS) of ($0.23), which missed analysts' expectations of ($0.21) by two cents. This figure mirrors last year’s EPS for the same quarter. Analysts predict that the EPS will be around -0.99 for the current year.

About QuantumScape

QuantumScape Corporation is a company focused on researching and developing solid-state lithium-metal batteries primarily for electric vehicles and additional uses. Founded in 2010, QuantumScape is based in San Jose, California.

Further Reading

• Alternative Investments to Consider
• Ways to Invest in Technology Stocks
• Understanding Stock Market Trends
• Factors to Watch When Investing
• The Impact of Market Changes on Investments
• Best Practices for Managing a Stock Portfolio

Geode, Investment, Analysts