QuantumScape Co. (NYSE:QS) has been making waves in the battery technology industry with its focus on developing and commercializing solid-state lithium-metal batteries for electric vehicles and other applications. Despite being a development stage company, it has garnered significant attention from investors, including ETF Managers Group LLC.
According to the latest 13F filing with the Securities and Exchange Commission, ETF Managers Group LLC grew its stake in QuantumScape by a staggering 202.1% in the fourth quarter. The firm now owns 103,560 shares of QuantumScape’s stock, after acquiring an additional 69,284 shares during that period. This significant increase highlights the growing enthusiasm among investors for quantum leaps that lie ahead.
The company’s remarkable progress towards realizing solid-state lithium-metal batteries is what sets it apart from competitors. These batteries are anticipated to have higher energy densities than conventional lithium-ion batteries and will allow electric vehicles to travel further on a single charge. Additionally, these new-age batteries are expected to be safer and less prone to thermal runaway events compared to their traditional counterparts.
QuantumScape’s market capitalization currently stands at $3.38 billion, with its share price opening at $7.62 on Monday at NYSE:QS . The company has a beta value of 5.14 which denotes the level of volatility associated with its stock changes relative to movements in the overall market. With a quick ratio and current ratio of 22.85 along with a debt-to-equity ratio of 0.03 suggests its capacity of meeting short-term obligations for sustaining profitable business operations.
Despite fluctuation between selling prices over time, QuantumScape’s simple moving average over both a fifty-day and two-hundred-day period remains steady at $6.84 and $7.38 respectively keeping investors confident about returns over time.
Although QuantumScape Co.’s stock may have had some ups and downs over the past year, its investors continue to hold high expectations about its future prospects. As QuantumScape continues to make strides in solid-state battery technology, investors are eagerly waiting to see what other innovative products the company will unveil. It is indeed a promising period that awaits us all at QuantumScape Corporation.
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Institutional Ownership Shifts at QuantumScape (NYSE: QS) Prompt Mixed Reviews from Analysts
QuantumScape (NYSE:QS) has recently experienced a shift in its institutional investor and hedge fund ownership. Vanguard Group Inc. increased its stake by 11.9% during the third quarter, now owning 20,555,744 shares worth $172,874,000. BlackRock Inc., Two Sigma Investments LP, Geode Capital Management LLC, and State Street Corp also grew their stakes in the company. It is now estimated that 26.09% of the stock is owned by such investors.
Despite this ownership shift, several analysts have commented on QS shares with some lowering their target price and giving a “sell” rating for the company. Goldman Sachs lowered their target price to $4.00 from $5.00 while Deutsche Bank Aktiengesellschaft lowered from $10.00 to $8.00.
Currently headquartered in San Jose, California and founded in 2010, QuantumScape aims to commercialize solid-state lithium-metal batteries for electric vehicles and other applications. The company reported earnings per share of ($0.24) for the quarter ending on April 26th which missed analyst estimates of ($0.23). It is expected that QuantumScape will post -0.92 earnings per share for this fiscal year.
In terms of recent insider activity at QuantumScape Corporation which has caught the interest of investors as well as analysts who are watching closely to determine what may occur next was CFO Kevin Hettrich selling off 75,820 shares amounting to a total value of $555,002 on June 13th . Another major move by insiders includes Director Gena C Lovett disposed of 19,700 shares at an average price point of $7.51 for around $147947 cash transaction which had taken place on June 13th as well