Maryland State Retirement & Pension System Sells 6,624 Shares of QuantumScape Co. (NYSE:QS)

Maryland State Retirement & Pension System cut its holdings in QuantumScape Co. (NYSE:QS) by 25.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,682 shares of the company’s stock after selling 6,624 shares during the period. Maryland State Retirement & Pension System’s holdings in QuantumScape were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Heck Capital Advisors LLC bought a new position in shares of QuantumScape in the fourth quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in 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 purchasing an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC bought a new position in QuantumScape in the 4th quarter valued at $53,000. Empowered Funds LLC purchased a new position in shares of QuantumScape during the 4th quarter valued at $53,000. Finally, Essex Financial Services Inc. bought a new position in shares of QuantumScape in the fourth quarter worth $54,000. Institutional investors own 29.87% of the company’s stock.

Insiders Place Their Bets

In other news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the transaction, the director now owns 228,287 shares in the company, valued at $1,191,658.14. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was 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. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 277,452 shares of company stock worth $1,542,942. 12.03% of the stock is currently owned by corporate insiders.

QuantumScape Stock Up 0.9 %

Shares of QuantumScape stock opened at $4.70 on Wednesday. The company’s 50 day moving average price is $4.86 and its 200-day moving average price is $5.21. QuantumScape Co. has a 52-week low of $4.05 and a 52-week high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -5.00 and a beta of 4.45.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Equities research analysts forecast that QuantumScape Co. will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QS. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Truist Financial decreased their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, QuantumScape has a consensus rating of “Hold” and a consensus target price of $6.06.

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.