HighTower Advisors LLC Raises Position in QuantumScape Corporation $QS

HighTower Advisors LLC grew its position in QuantumScape Corporation (NYSE:QS) by 13.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,611 shares of the company’s stock after acquiring an additional 2,838 shares during the quarter. HighTower Advisors LLC’s holdings in QuantumScape were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QS. Signaturefd LLC raised its stake in shares of QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock valued at $25,000 after acquiring an additional 5,841 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of QuantumScape in the fourth quarter valued at $26,000. Federated Hermes Inc. raised its stake in shares of QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after acquiring an additional 5,438 shares during the period. Hollencrest Capital Management raised its stake in shares of QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG bought a new stake in shares of QuantumScape during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling at QuantumScape

In other news, CTO Timothy Holme sold 358,330 shares of QuantumScape stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90. Following the transaction, the chief technology officer directly owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. This trade represents a 17.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 500,000 shares of QuantumScape stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the completion of the transaction, the insider owned 1,467,183 shares in the company, valued at $17,019,322.80. This represents a 25.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,956,517 shares of company stock valued at $34,977,013 in the last 90 days. Insiders own 5.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on QS shares. Robert W. Baird raised their price target on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. TD Cowen raised QuantumScape to a “hold” rating in a research note on Monday, July 7th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.90.

QuantumScape Stock Up 2.7%

Shares of QuantumScape stock opened at $7.85 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $15.03. The firm’s 50-day moving average is $9.10 and its two-hundred day moving average is $5.95. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -9.13 and a beta of 4.42.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million for the quarter. During the same quarter last year, the firm posted ($0.25) EPS. As a group, research analysts expect 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.