Oak Harbor Wealth Partners LLC Decreases Stock Holdings in QuantumScape Co. (NYSE:QS)

Oak Harbor Wealth Partners LLC lowered its position in QuantumScape Co. (NYSE:QS) by 36.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,089 shares of the company’s stock after selling 20,300 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in QuantumScape were worth $208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares during the last quarter. CWM LLC raised its position in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the last quarter. Mather Group LLC. purchased a new position in QuantumScape during the 2nd quarter worth approximately $36,000. Finally, Alaska Wealth Advisors acquired a new stake in shares of QuantumScape during the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Performance

Shares of QS opened at $4.85 on Friday. The stock has a 50 day moving average price of $5.50 and a 200 day moving average price of $5.76. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -5.11 and a beta of 4.60. QuantumScape Co. has a 52-week low of $4.67 and a 52-week high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business earned ($0.23) earnings per share. Research analysts predict that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the transaction, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael O. Mccarthy III sold 50,575 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.99, for a total value of $302,944.25. Following the completion of the sale, the insider now directly owns 1,184,745 shares in the company, valued at $7,096,622.55. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 708,455 shares of company stock worth $4,121,274. 12.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QS. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research initiated coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Truist Financial reiterated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and an average target price of $6.14.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.