Northern Trust Corp Grows Holdings in QuantumScape Co. (NYSE:QS)

Northern Trust Corp increased its position in QuantumScape Co. (NYSE:QS) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,724,845 shares of the company’s stock after acquiring an additional 130,849 shares during the quarter. Northern Trust Corp owned about 0.34% of QuantumScape worth $8,952,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QS. Heck Capital Advisors LLC bought a new position in QuantumScape in the 4th quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after purchasing an additional 4,556 shares during the period. Atlas Legacy Advisors LLC bought a new position in QuantumScape in the 4th quarter worth approximately $53,000. Empowered Funds LLC bought a new position in QuantumScape in the 4th quarter worth approximately $53,000. Finally, Essex Financial Services Inc. bought a new position in QuantumScape in the 4th quarter worth approximately $54,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Stock Up 10.9%

Shares of QS opened at $4.73 on Monday. The company has a market cap of $2.64 billion, a PE ratio of -5.03 and a beta of 4.38. The business has a fifty day moving average of $4.08 and a 200 day moving average of $4.75. QuantumScape Co. has a 52-week low of $3.40 and a 52-week high of $9.52. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same period in the prior year, the company posted ($0.24) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.82 EPS for the current year.

Insider Buying and Selling

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the sale, the director now owns 228,287 shares in the company, valued at $1,191,658.14. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 53,975 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the completion of the sale, the chief financial officer now owns 930,800 shares in the company, valued at approximately $4,868,084. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,198 shares of company stock worth $748,796 over the last three months. 12.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a research report on Monday, April 28th. Finally, Truist Financial lowered their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.19.

QuantumScape Company 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.