HBK Sorce Advisory LLC Raises Stock Holdings in QuantumScape Co. (NYSE:QS)

HBK Sorce Advisory LLC raised its holdings in QuantumScape Co. (NYSE:QS) by 11.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,551 shares of the company’s stock after acquiring an additional 2,264 shares during the quarter. HBK Sorce Advisory LLC’s holdings in QuantumScape were worth $150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clear Street Markets LLC purchased a new stake in QuantumScape in the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC raised its stake in QuantumScape by 49.6% in the third quarter. Tower Research Capital LLC TRC now owns 5,142 shares of the company’s stock valued at $34,000 after buying an additional 1,704 shares during the last quarter. Level Financial Advisors Inc. purchased a new stake in QuantumScape in the third quarter valued at about $42,000. International Assets Investment Management LLC raised its stake in QuantumScape by 595.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after buying an additional 5,296 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. increased its holdings in shares of QuantumScape by 37.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,835 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Stock Down 4.0 %

QuantumScape stock opened at $5.81 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -6.05 and a beta of 4.76. QuantumScape Co. has a 52 week low of $4.99 and a 52 week high of $13.86. The business’s 50-day moving average price is $6.32 and its 200 day moving average price is $6.48. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period in the previous year, the business earned ($0.25) earnings per share. As a group, sell-side analysts anticipate that QuantumScape Co. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of research reports. Robert W. Baird increased their price objective on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. William Blair initiated coverage on QuantumScape in a report on Monday, December 18th. They issued a “market perform” rating on the stock. Finally, Truist Financial increased their price objective on QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.71.

Insiders Place Their Bets

In other news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $6.14, for a total transaction of $212,486.98. Following the transaction, the chief financial officer now owns 1,178,512 shares in the company, valued at $7,236,063.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by corporate insiders.

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.