Public Employees Retirement System of Ohio Takes Position in QuantumScape Corporation $QS

Public Employees Retirement System of Ohio bought a new stake in shares of QuantumScape Corporation (NYSE:QS) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 142,737 shares of the company’s stock, valued at approximately $1,079,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QS. AQR Capital Management LLC bought a new position in QuantumScape during the first quarter worth about $321,000. NewEdge Advisors LLC raised its holdings in shares of QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock worth $88,000 after buying an additional 7,111 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of QuantumScape by 41.4% during the 2nd quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock worth $211,000 after buying an additional 9,210 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after buying an additional 3,311 shares during the period. Institutional investors own 29.87% of the company’s stock.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total transaction of $71,344.00. Following the sale, the chief financial officer directly owned 1,816,257 shares in the company, valued at $13,222,350.96. This represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Timothy Holme sold 102,991 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $749,774.48. Following the sale, the chief technology officer owned 1,712,506 shares in the company, valued at approximately $12,467,043.68. This trade represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 211,444 shares of company stock worth $1,465,971 over the last three months. 3.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, TD Cowen lowered their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, QuantumScape has a consensus rating of “Reduce” and a consensus price target of $9.47.

QuantumScape Trading Up 2.0%

Shares of QS stock opened at $5.59 on Wednesday. The company has a market capitalization of $3.46 billion, a P/E ratio of -6.90 and a beta of 2.68. QuantumScape Corporation has a 12-month low of $4.77 and a 12-month high of $19.07. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $5.93 and a 200 day moving average price of $6.81.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. QuantumScape’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) EPS. Research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.