Commonwealth Equity Services LLC Increases Holdings in QuantumScape Co. (NYSE:QS)

Commonwealth Equity Services LLC boosted its position in QuantumScape Co. (NYSE:QS) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 481,916 shares of the company’s stock after buying an additional 41,712 shares during the period. Commonwealth Equity Services LLC’s holdings in QuantumScape were worth $2,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in QuantumScape by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after purchasing an additional 93,826 shares during the period. Nwam LLC acquired a new stake in QuantumScape during the third quarter worth about $64,000. FMR LLC raised its position in QuantumScape by 74.9% during the third quarter. FMR LLC now owns 14,070 shares of the company’s stock valued at $81,000 after acquiring an additional 6,026 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in QuantumScape by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after acquiring an additional 94,103 shares during the period. Finally, Atom Investors LP purchased a new stake in QuantumScape in the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

Insider Activity

In other news, insider Mohit Singh sold 97,305 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 277,452 shares of company stock worth $1,542,942 over the last quarter. 12.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Truist Financial decreased their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.06.

QuantumScape Price Performance

Shares of NYSE QS opened at $4.56 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The firm has a market cap of $2.50 billion, a PE ratio of -4.85 and a beta of 4.45. QuantumScape Co. has a one year low of $4.05 and a one year high of $9.52. The firm has a fifty day moving average of $4.85 and a 200 day moving average of $5.20.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). As a group, research analysts predict that QuantumScape Co. will post -0.82 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.