HighTower Advisors LLC Lowers Stake in QuantumScape Co. (NYSE:QS)

HighTower Advisors LLC trimmed its position in shares of QuantumScape Co. (NYSE:QS) by 23.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,773 shares of the company’s stock after selling 6,302 shares during the period. HighTower Advisors LLC’s holdings in QuantumScape were worth $108,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in QuantumScape in the 4th quarter worth approximately $26,000. Blue Trust Inc. lifted its holdings in shares of QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after buying an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC bought a new position in shares of QuantumScape during the fourth quarter worth $53,000. Empowered Funds LLC purchased a new position in QuantumScape during the fourth quarter valued at $53,000. Finally, Essex Financial Services Inc. purchased a new position in QuantumScape during the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analysts Set New Price Targets

QS has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, QuantumScape currently has an average rating of “Hold” and an average price target of $6.06.

Insider Activity

In related news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.22, for a total transaction of $67,379.76. Following the transaction, the director now directly owns 228,287 shares in the company, valued at approximately $1,191,658.14. This represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 76,315 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the sale, the insider now directly owns 1,010,523 shares in the company, valued at $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,147 shares of company stock valued at $935,758 in the last ninety days. Insiders own 12.03% of the company’s stock.

QuantumScape Price Performance

QS stock opened at $3.82 on Friday. QuantumScape Co. has a 52 week low of $3.53 and a 52 week high of $9.52. The firm has a market capitalization of $2.09 billion, a P/E ratio of -4.06 and a beta of 4.37. The company has a fifty day simple moving average of $4.70 and a two-hundred day simple moving average of $5.13. 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 announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Analysts anticipate that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

QuantumScape 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.