Simplicity Solutions LLC Buys New Position in QuantumScape Co. (NYSE:QS)

Simplicity Solutions LLC bought a new stake in shares of QuantumScape Co. (NYSE:QS) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 103,449 shares of the company’s stock, valued at approximately $719,000.

Several other hedge funds have also modified their holdings of QS. Citigroup Inc. increased its holdings in QuantumScape by 97.7% during the 3rd quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock worth $703,000 after purchasing an additional 51,934 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its position in QuantumScape by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock valued at $77,000 after purchasing an additional 2,861 shares during the period. Scotia Capital Inc. acquired a new position in QuantumScape during the 3rd quarter valued at approximately $95,000. HBK Sorce Advisory LLC boosted its position in QuantumScape by 11.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock valued at $150,000 after purchasing an additional 2,264 shares during the period. Finally, Vanguard Group Inc. boosted its position in QuantumScape by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after purchasing an additional 5,483,319 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial boosted their price objective on QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Robert W. Baird boosted their price objective on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.71.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the sale, the insider now owns 731,629 shares in the company, valued at $4,514,150.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the sale, the insider now directly owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the sale, the chief financial officer now directly owns 554,553 shares in the company, valued at $3,626,776.62. The disclosure for this sale can be found here. Insiders sold a total of 194,970 shares of company stock worth $1,250,775 over the last 90 days. 10.18% of the stock is currently owned by company insiders.

QuantumScape Trading Up 2.3 %

Shares of QS stock opened at $5.58 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The firm has a market capitalization of $2.76 billion, a PE ratio of -5.81 and a beta of 4.76. The stock has a fifty day moving average of $6.22 and a two-hundred day moving average of $6.46. QuantumScape Co. has a 1 year low of $4.99 and a 1 year high of $13.86.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter last year, the business posted ($0.25) earnings per share. As a group, research analysts expect that QuantumScape Co. will post -0.87 EPS for the current year.

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.