The Vanguard Group, Inc. has recently announced that it has increased stake in QuantumScape Corporation (NYSE:QS) by 1.49%. After grabbing 18.22 million shares, the institutional investor is now in possession of 0.27 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 5.11% having worth around $151.74 million. Moreover, Global X Management Co. LLC increased its share by 0.32 million to have a control over 5.05 million shares. And BNP Paribas Asset Management UK L raised its holdings to 0.63 million shares by acquiring 3.7 million shares or 1.04% of the stake.
QuantumScape Corporation (QS) concluded trading on 11/16/22 at a closing price of $7.42, with 7.73 million shares of worth about $57.38 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -35.08% during that period and on Wednesday the price saw a loss of about -8.51%. Currently the company’s common shares owned by public are about 434.05M shares, out of which, 259.56M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the QS stock and their offered price forecasts bring an average price target of $9.57. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $14.00 and could fall to a lowest price of $4.00. The stock’s current price level is 40.16% above of average price target set by the analysts, while a rise to estimated low would result in loss of -85.5% for the stock. However, touching the estimated high of $14.00 would mean a gain of 47.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 217 times over the past 12 months. They bought 12,983,141 shares in 93 of the transactions. In 124 selling transactions, insiders dumped 16,525,217 shares.
Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and BNP Paribas Funds – Energy Transi are the top 3 mutual funds which are holding stakes in QuantumScape Corporation Vanguard Total Stock Market Index is currently holding 6.75 million shares of worth totaling $56.26 million. The company recently came buying 0.67 million shares which brought its stake up to 1.90% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 0.61 million shares, after which its hold over company’s outstanding shares expand to 1.62%, leaving 5.77 million shares with the mutual fund that have a worth of about $48.08 million. BNP Paribas Funds – Energy Transi, after buying 3.7 million shares, have now control over 1.04% of the stake in the company. It holds 0.44 million shares of worth $30.84 million.
QuantumScape Corporation (NYSE: QS) started trading at $7.98, below -$0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 7.97, or with a loss of -8.51%. Stock saw a price change of 10.09% in past 5 days and over the past one month there was a price change of -10.92%. Year-to-date (YTD), QS shares are showing a performance of -66.56% which decreased to -79.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.73 but also hit the highest price of $38.78 during that period. The average intraday trading volume for QuantumScape Corporation shares is 6.40 million. The stock is currently trading -7.09% below its 20-day simple moving average (SMA20), while that difference is down -16.55% for SMA50 and it goes to -39.79% lower than SMA200.
The Vanguard Group, Inc. acquired 18.22 million shares of QuantumScape Corporation having value of about $151.74 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.27 million shares in the company valued at close to $1982497.86, or have control over 1.49% stake in the company. QuantumScape Corporation (NYSE: QS) currently have 434.05M outstanding shares and institutions hold larger chunk of about 35.70% of that. Holding of mutual funds in the company is about 13.57% while other institutional holders and individual stake holders have control over 22.98% and 12.30% of the stake respectively.
The stock has a current market capitalization of $3.11B. It has posted earnings per share of -$0.86 in the same period. It has Quick Ratio of 25.70 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for QS, volatility over the week remained 8.58% while standing at 8.41% over the month.
Analysts are in expectations that QuantumScape Corporation (QS) stock would likely to be making an EPS of -$0.23 in the current quarter, while forecast for next quarter EPS is -$0.17 and it is -$0.83 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.29 which is -$0.15 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 98.30% while it is estimated to increase by 7.70% in next year.
Analysts at 6 brokerage firms have issued recommendations for the QuantumScape Corporation (QS)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 6 Wall Street analysts, 0 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Coverage by Truist stated QuantumScape Corporation (QS) stock as a Hold in their note to investors on September 29, 2022, suggesting a price target of $10 for the stock. On April 12, 2022, Deutsche Bank Initiated their recommendations, while on March 29, 2022, SMBC Nikko Initiated their ratings for the stock with a price target of $20. Stock get a Neutral rating from UBS on January 28, 2022.