Strategy Asset Managers LLC Takes Position in QuantumScape Co. (NYSE:QS)

Strategy Asset Managers LLC purchased a new position in shares of QuantumScape Co. (NYSE:QS) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 18,714 shares of the company’s stock, valued at approximately $108,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its position in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the last quarter. CWM LLC boosted its position in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after acquiring an additional 2,556 shares during the last quarter. Mather Group LLC. acquired a new stake in QuantumScape during the 2nd quarter worth about $36,000. Finally, Alaska Wealth Advisors bought a new position in shares of QuantumScape in the 2nd quarter worth about $49,000. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Stock Down 0.3 %

QS stock opened at $5.06 on Friday. The stock’s 50 day moving average is $5.43 and its 200-day moving average is $5.74. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $10.03. The firm has a market capitalization of $2.59 billion, a PE ratio of -5.32 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the company posted ($0.23) EPS. Sell-side analysts expect that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

QS has been the topic of several recent analyst reports. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.26.

Insider Transactions at QuantumScape

In other news, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the transaction, the insider now owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. This represents a 8.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of QuantumScape stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 606,197 shares of company stock worth $3,498,399 in the last 90 days. Insiders own 12.03% of the company’s stock.

QuantumScape Company Profile

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.