The Vanguard Group, Inc. recently announced the acquisition of new stake in QuantumScape Corporation (NYSE:QS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 11.95% to 20.39 million shares with purchase of 2.18 million shares. This fresh investment now brings its stake to 5.72% valued currently at $169.87 million. In addition, BlackRock Fund Advisors raised its holdings by 0.43 million to 8.45 million shares. And Global X Management Co. LLC has lifted its position by 6.75% or 0.32 million shares – to 5.05 million shares.
With over 11.07 million QuantumScape Corporation (QS) shares trading Friday and a closing price of $7.22 on the day, the dollar volume was approximately $79.91 million. The shares have shown a negative half year performance of -40.33% and its price on 11/18/22 gained nearly 0.98%. Currently, there are 434.05M common shares owned by the public and among those 259.81M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for QS have a consensus price objective of $9.57. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $4.00. The average price target is 41.77% above its recent price level and a downside to the estimated low will see the stock lose -80.5% over that period. But an upside of 48.43% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 217 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 93 of these insider trades were purchases, accounting for 12,983,141 shares. Insider sales of the common stock occurred on 124 occasions, with total insider shares sold totaling 16,525,217 shares.
The top 3 mutual fund holders in QuantumScape Corporation are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 6.78 million shares of the company’s stock, all valued at over $56.5 million. The company bought an additional 28156.0 shares recently to bring their total holdings to about 1.90% of the shares outstanding. Vanguard Small Cap Index Fund bought 93516.0 shares to see its total holdings expand to 5.87 million shares valued at over $48.86 million and representing 1.65% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.11 million shares to bring its total holdings to over 3.72 million shares at a value of $31.02 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.05% of the shares outstanding.
Shares of QuantumScape Corporation (NYSE: QS) opened at $7.29, up $0.14 from a prior closing price of $7.15. However, the script later moved the day high at 7.33, up 0.98%. The company’s stock has a 5-day price change of -3.86% and -32.40% over the past three months. QS shares are trading -67.46% year to date (YTD), with the 12-month market performance down to -78.68% lower. It has a 12-month low price of $6.73 and touched a high of $36.74 over the same period. QS has an average intraday trading volume of 6.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.92%, -17.63%, and -40.94% respectively.
Institutional ownership of QuantumScape Corporation (NYSE: QS) shares accounts for 36.70% of the company’s 434.05M shares outstanding. Mutual fund holders own 13.67%, while other institutional holders and individual stakeholders account for 23.16% and 13.45% respectively.
It has a market capitalization of $3.12B. The earnings-per-share (ttm) stands at -$0.86. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.61% over the week and 8.50% over the month.
Analysts forecast that QuantumScape Corporation (QS) will achieve an EPS of -$0.23 for the current quarter, -$0.17 for the next quarter and -$0.83 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 98.30%, and 7.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate QuantumScape Corporation (QS) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 advise that investors “hold,” and 1 rated it as a “Sell.”
Truist coverage for the QuantumScape Corporation (QS) stock in a research note released on September 29, 2022 offered a Hold rating with a price target of $10. Deutsche Bank was of a view on April 12, 2022 that the stock is Hold, while SMBC Nikko gave the stock Neutral rating on March 29, 2022, issuing a price target of $20. UBS on their part issued Neutral rating on January 28, 2022.