The Vanguard Group, Inc. recently announced the acquisition of new stake in QuantumScape Corp (NYSE:QS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 23.44% to 28.58 million shares with purchase of 5.43 million shares. This fresh investment now brings its stake to 6.65% valued currently at $181.22 million. In addition, BlackRock Fund Advisors raised its holdings by 0.87 million to 12.58 million shares. And Coatue Management LLC has lifted its position by 95.28% or 2.92 million shares – to 5.99 million shares.
With over 47.97 million QuantumScape Corp (QS) shares trading Friday and a closing price of $8.70 on the day, the dollar volume was approximately $417.34 million. The shares have shown a negative half year performance of -0.91% and its price on 01/05/24 lost nearly -6.45%. Currently, there are 358.50M common shares owned by the public and among those 324.63M shares have been available to trade.
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Insiders at the company have transacted a total of 119 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 6,151,499 shares. Insider sales of the common stock occurred on 67 occasions, with total insider shares sold totaling 2,767,114 shares.
The top 3 mutual fund holders in QuantumScape Corp are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 9.88 million shares of the company’s stock, all valued at over $62.61 million. The company bought an additional 14587.0 shares recently to bring their total holdings to about 2.30% of the shares outstanding. Vanguard Small Cap Index Fund bought 53766.0 shares to see its total holdings expand to 8.17 million shares valued at over $51.82 million and representing 1.90% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.12 million shares to bring its total holdings to over 4.84 million shares at a value of $30.67 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.13% of the shares outstanding.
Shares of QuantumScape Corp (NYSE: QS) opened at $9.27, down -$0.03 from a prior closing price of $9.30. However, the script later moved the day high at 9.43, down -6.45%. The company’s stock has a 5-day price change of 21.17% and 39.20% over the past three months. QS shares are trading 25.18% year to date (YTD), with the 12-month market performance up to 56.47% higher. It has a 12-month low price of $4.99 and touched a high of $13.86 over the same period. QS has an average intraday trading volume of 7.36 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 20.55%, 36.14%, and 21.47% respectively.
Institutional ownership of QuantumScape Corp (NYSE: QS) shares accounts for 24.96% of the company’s 358.50M shares outstanding. Mutual fund holders own 14.38%, while other institutional holders and individual stakeholders account for 20.76% and 14.11% respectively.
It has a market capitalization of $4.26B and a beta (3y monthly) value of 4.85. The earnings-per-share (ttm) stands at -$0.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.94% over the week and 7.09% over the month.
Analysts forecast that QuantumScape Corp (QS) will achieve an EPS of -$0.38 for the current quarter, -$0.14 for the next quarter and -$0.89 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.19 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.25 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.11%, and 16.26% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate QuantumScape Corp (QS) as a “Hold” at a consensus score of 3.40. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 6 of the 10 advise that investors “hold,” and 3 rated it as a “Sell.”
