PFG Investments LLC Cuts Stake in QuantumScape Corporation (NYSE:QS)

PFG Investments LLC lowered its position in shares of QuantumScape Corporation (NYSE:QS) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,966 shares of the company’s stock after selling 3,530 shares during the quarter. PFG Investments LLC’s holdings in QuantumScape were worth $141,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Ieq Capital LLC raised its position in QuantumScape by 2.6% during the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after buying an additional 2,200 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of QuantumScape by 2.0% during the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after purchasing an additional 2,300 shares during the period. Xponance Inc. grew its stake in shares of QuantumScape by 17.8% during the 4th quarter. Xponance Inc. now owns 15,862 shares of the company’s stock worth $82,000 after purchasing an additional 2,400 shares during the period. Arizona State Retirement System grew its stake in shares of QuantumScape by 2.3% during the 4th quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock worth $578,000 after purchasing an additional 2,483 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of QuantumScape by 19.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company’s stock worth $94,000 after purchasing an additional 2,997 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 61,523 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total transaction of $242,400.62. Following the sale, the director now directly owns 231,530 shares of the company’s stock, valued at $912,228.20. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Singh sold 71,428 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $4.41, for a total transaction of $314,997.48. Following the sale, the insider now directly owns 1,640,998 shares in the company, valued at $7,236,801.18. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on QS. UBS Group cut shares of QuantumScape from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Robert W. Baird lowered their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their price target on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Monday, April 28th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.19.

QuantumScape Price Performance

Shares of NYSE QS opened at $7.65 on Friday. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -8.41 and a beta of 4.27. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $9.52. The company’s 50-day moving average price is $4.22 and its 200 day moving average price is $4.62. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the business earned ($0.24) EPS. As a group, research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal 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.