Wealth Enhancement Advisory Services LLC Reduces Stock Position in QuantumScape Corporation (NYSE:QS)

Wealth Enhancement Advisory Services LLC lessened its holdings in QuantumScape Corporation (NYSE:QS) by 13.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,468 shares of the company’s stock after selling 4,555 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in QuantumScape were worth $118,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Xponance Inc. increased its holdings in QuantumScape by 17.8% in the fourth quarter. Xponance Inc. now owns 15,862 shares of the company’s stock valued at $82,000 after buying an additional 2,400 shares during the last quarter. Arizona State Retirement System increased its holdings in QuantumScape by 2.3% in the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock valued at $578,000 after buying an additional 2,483 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in QuantumScape by 19.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company’s stock valued at $94,000 after buying an additional 2,997 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in QuantumScape by 2.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 158,579 shares of the company’s stock valued at $823,000 after buying an additional 3,180 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of QuantumScape by 9.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 44,087 shares of the company’s stock worth $229,000 after purchasing an additional 3,787 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Performance

NYSE QS opened at $9.08 on Friday. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $9.52. The business’s 50-day moving average price is $4.90 and its 200 day moving average price is $4.78. The firm has a market cap of $5.07 billion, a P/E ratio of -9.97 and a beta of 4.42.

QuantumScape (NYSE:QS) last released 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 previous year, the firm earned ($0.24) earnings per share. On average, equities research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analysts Set New Price Targets

QS has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, April 28th. UBS Group lowered QuantumScape from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Robert W. Baird dropped their price objective on QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, TD Cowen raised QuantumScape to a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.19.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 864,708 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total value of $6,070,250.16. Following the completion of the sale, the director owned 81,364 shares in the company, valued at $571,175.28. This trade represents a 91.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Singh sold 465,000 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the sale, the insider owned 1,641,711 shares of the company’s stock, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,589,468 shares of company stock valued at $18,114,411 over the last quarter. 12.03% of the stock is currently owned by insiders.

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.