Quantinno Capital Management LP Makes New $96,000 Investment in QuantumScape Co. (NYSE:QS)

Quantinno Capital Management LP bought a new stake in shares of QuantumScape Co. (NYSE:QS) in the 3rd quarter, HoldingsChannel reports. The fund bought 16,674 shares of the company’s stock, valued at approximately $96,000.

A number of other hedge funds also recently made changes to their positions in QS. Signaturefd LLC increased its holdings in QuantumScape by 79.9% during the third 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 last quarter. International Assets Investment Management LLC boosted its stake in QuantumScape by 475.1% in 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 grew its position 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 period. Centaurus Financial Inc. purchased a new stake in shares of QuantumScape during the 2nd quarter worth approximately $52,000. Finally, Financial Advocates Investment Management bought a new stake in shares of QuantumScape in the 2nd quarter worth approximately $58,000. 29.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.07, for a total transaction of $138,436.35. Following the sale, the insider now owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 666,032 shares of company stock valued at $3,549,682 over the last three months. Insiders own 12.03% of the company’s stock.

QuantumScape Trading Up 6.8 %

NYSE QS opened at $5.31 on Wednesday. The stock’s 50-day simple moving average is $5.20 and its two-hundred day simple moving average is $5.66. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $10.03. 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 $2.72 billion, a price-to-earnings ratio of -5.59 and a beta of 4.50.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the company posted ($0.23) earnings per share. Research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QS. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial restated 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. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.26.

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.