Quantinno Capital Management LP Acquires New Holdings in QuantumScape Co. (NYSE:QS)

Quantinno Capital Management LP bought a new position in shares of QuantumScape Co. (NYSE:QS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,674 shares of the company’s stock, valued at approximately $96,000.

Several other institutional investors also recently modified their holdings of the stock. Signaturefd LLC boosted its position in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares during the period. International Assets Investment Management LLC raised its position in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares during the last quarter. CWM LLC lifted its holdings 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 period. Centaurus Financial Inc. bought a new position in shares of QuantumScape during the second quarter worth about $52,000. Finally, Financial Advocates Investment Management acquired a new position in shares of QuantumScape in the second quarter worth approximately $58,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QuantumScape

In related news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now directly owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.53, for a total value of $1,063,253.10. Following the transaction, the director now owns 2,590,583 shares in the company, valued at approximately $14,325,923.99. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 666,032 shares of company stock worth $3,549,682. 12.03% of the stock is owned by corporate insiders.

QuantumScape Stock Performance

Shares of QS opened at $5.31 on Wednesday. QuantumScape Co. has a one year low of $4.65 and a one year high of $10.03. The company has a market cap of $2.72 billion, a PE ratio of -5.59 and a beta of 4.50. The stock has a 50-day moving average of $5.20 and a 200-day moving average of $5.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) 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. On average, equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QS has been the subject of a number of recent analyst reports. Truist Financial reissued a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and a consensus target price of $6.26.

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.