Quantbot Technologies LP Trims Stock Holdings in QuantumScape Co. (NYSE:QS)

Quantbot Technologies LP lowered its stake in shares of QuantumScape Co. (NYSE:QS) by 26.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,815 shares of the company’s stock after selling 77,573 shares during the period. Quantbot Technologies LP’s holdings in QuantumScape were worth $1,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QS. Signaturefd LLC grew its position 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 purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC grew its holdings in 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 buying an additional 4,228 shares during the period. CWM LLC increased its stake in shares of QuantumScape by 56.0% during the 2nd 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. purchased a new position in shares of QuantumScape during the 2nd quarter worth about $36,000. Finally, Alaska Wealth Advisors acquired a new stake in shares of QuantumScape in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 106,084 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $5.90, for a total transaction of $625,895.60. Following the completion of the sale, the insider now owns 1,181,884 shares of the company’s stock, valued at approximately $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 702,057 shares of company stock worth $3,982,909 over the last ninety days. Corporate insiders own 12.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research note on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

QuantumScape stock opened at $5.23 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of -5.51 and a beta of 4.60. QuantumScape Co. has a one year low of $4.65 and a one year high of $10.03. The stock’s 50 day moving average price is $5.35 and its 200 day moving average price is $5.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the firm posted ($0.23) EPS. As a group, sell-side analysts expect that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

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.