Orion Portfolio Solutions LLC Takes Position in QuantumScape Co. (NYSE:QS)

Orion Portfolio Solutions LLC bought a new position in shares of QuantumScape Co. (NYSE:QS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,038 shares of the company’s stock, valued at approximately $150,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised 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 buying an additional 4,228 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of QuantumScape in the second quarter valued at approximately $52,000. Financial Advocates Investment Management acquired a new stake in shares of QuantumScape in the second quarter valued at approximately $58,000. Finally, Atom Investors LP bought a new position in shares of QuantumScape during the 3rd quarter worth approximately $60,000. 29.87% of the stock is owned by institutional investors.

QuantumScape Price Performance

QuantumScape stock opened at $5.02 on Friday. The firm has a market cap of $2.57 billion, a PE ratio of -5.28 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The stock’s fifty day moving average price is $5.17 and its two-hundred day moving average price is $5.64. QuantumScape Co. has a one year low of $4.65 and a one year high of $10.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings results 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 last year, the business earned ($0.23) earnings per share. As a group, research analysts expect that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Jagdeep Singh sold 308,097 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares in the company, valued at $13,587,965.10. This represents a 10.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the sale, the director now directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 666,032 shares of company stock valued at $3,549,682. Company insiders own 12.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QS. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. Finally, 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. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.