LPL Financial LLC Purchases 204,448 Shares of QuantumScape Co. (NYSE:QS)

LPL Financial LLC boosted its position in shares of QuantumScape Co. (NYSE:QS) by 50.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 612,480 shares of the company’s stock after buying an additional 204,448 shares during the period. LPL Financial LLC owned approximately 0.14% of QuantumScape worth $5,010,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Armor Investment Advisors LLC grew its stake in shares of QuantumScape by 19.3% in the 1st quarter. Armor Investment Advisors LLC now owns 37,169 shares of the company’s stock worth $304,000 after buying an additional 6,004 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in QuantumScape by 81.7% during the first quarter. Tower Research Capital LLC TRC now owns 10,942 shares of the company’s stock worth $90,000 after acquiring an additional 4,921 shares during the last quarter. Bank of New York Mellon Corp raised its position in QuantumScape by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 903,753 shares of the company’s stock valued at $7,393,000 after purchasing an additional 6,250 shares during the period. US Bancorp DE lifted its stake in shares of QuantumScape by 140.9% in the 1st quarter. US Bancorp DE now owns 39,311 shares of the company’s stock valued at $322,000 after purchasing an additional 22,991 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of QuantumScape in the 1st quarter worth approximately $421,000. Hedge funds and other institutional investors own 27.22% of the company’s stock.

Insiders Place Their Bets

In other QuantumScape news, Director Gena C. Lovett sold 19,700 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $7.51, for a total transaction of $147,947.00. Following the transaction, the director now owns 40,956 shares of the company’s stock, valued at approximately $307,579.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jurgen Leohold sold 9,101 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $8.01, for a total value of $72,899.01. Following the completion of the transaction, the director now directly owns 185,717 shares of the company’s stock, valued at approximately $1,487,593.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gena C. Lovett sold 19,700 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $7.51, for a total value of $147,947.00. Following the sale, the director now owns 40,956 shares of the company’s stock, valued at $307,579.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 584,894 shares of company stock worth $4,858,682. 10.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on QS shares. Truist Financial raised their price target on QuantumScape from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Wolfe Research lowered shares of QuantumScape from a “peer perform” rating to an “underperform” rating and set a $2.00 target price for the company. in a report on Thursday, June 8th. TD Cowen cut shares of QuantumScape from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $14.00 to $8.00 in a research note on Wednesday, July 19th. Finally, The Goldman Sachs Group increased their price objective on shares of QuantumScape from $4.00 to $6.00 and gave the stock a “sell” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.17.

QuantumScape Trading Down 0.8 %

QS stock opened at $7.08 on Friday. QuantumScape Co. has a 12 month low of $5.11 and a 12 month high of $13.86. The firm’s 50-day moving average is $8.58 and its 200 day moving average is $7.87. The company has a market capitalization of $3.17 billion, a PE ratio of -6.94 and a beta of 5.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 19.25 and a quick ratio of 19.25.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, July 26th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). During the same period last year, the firm earned ($0.22) EPS. On average, research analysts anticipate that QuantumScape Co. will post -0.98 EPS for the current year.

QuantumScape Company Profile

QuantumScape Corporation, a development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape Corporation was founded in 2010 and is headquartered in San Jose, California.