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

Maryland State Retirement & Pension System decreased its position in shares of QuantumScape Co. (NYSE:QS) by 25.2% during the fourth quarter, HoldingsChannel reports. The institutional investor 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new stake in QuantumScape during the 4th quarter valued at $26,000. Blue Trust Inc. lifted its holdings in shares of QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC purchased a new stake in shares of QuantumScape during the fourth quarter valued at $53,000. Empowered Funds LLC bought a new stake in QuantumScape in the 4th quarter worth about $53,000. Finally, Essex Financial Services Inc. bought a new position in QuantumScape during the 4th quarter valued at about $54,000. Institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 12,908 shares of the business’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 directly owns 228,287 shares in the company, valued at approximately $1,191,658.14. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 53,975 shares of the firm’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 value of $282,289.25. Following the transaction, the chief financial officer now owns 930,800 shares of the company’s stock, valued at $4,868,084. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,452 shares of company stock worth $1,542,942. 12.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

QuantumScape Stock Performance

QS opened at $4.70 on Wednesday. The company has a 50 day simple moving average of $4.86 and a two-hundred day simple moving average of $5.21. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm has a market cap of $2.57 billion, a P/E ratio of -5.00 and a beta of 4.45. QuantumScape Co. has a 1-year low of $4.05 and a 1-year high of $9.52.

QuantumScape (NYSE:QS) last issued its quarterly earnings results 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 analysts forecast that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

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.