Vident Advisory LLC Takes $105,000 Position in QuantumScape Corporation $QS

Vident Advisory LLC acquired a new stake in QuantumScape Corporation (NYSE:QS) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 25,338 shares of the company’s stock, valued at approximately $105,000.

Several other hedge funds also recently modified their holdings of QS. Northern Trust Corp increased its stake in shares of QuantumScape by 8.2% during the 4th quarter. Northern Trust Corp now owns 1,724,845 shares of the company’s stock worth $8,952,000 after purchasing an additional 130,849 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of QuantumScape by 9.4% during the 4th 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. Mercer Global Advisors Inc. ADV increased 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 last quarter. Captrust Financial Advisors acquired a new position in shares of QuantumScape during the 4th quarter worth $156,000. Finally, Cetera Investment Advisers increased its stake in shares of QuantumScape by 17.3% during the 4th quarter. Cetera Investment Advisers now owns 49,944 shares of the company’s stock worth $259,000 after purchasing an additional 7,380 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. TD Cowen upgraded shares of QuantumScape to a “hold” rating in a research note on Monday, July 7th. Robert W. Baird increased their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.88.

Insider Activity at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 465,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the completion of the sale, the insider directly owned 1,641,711 shares of the company’s stock, valued at $13,478,447.31. This represents a 22.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael O. Mccarthy III sold 500,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the completion of the sale, the insider directly owned 1,467,183 shares of the company’s stock, valued at approximately $17,019,322.80. This trade represents a 25.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,201,036 shares of company stock valued at $36,884,712 in the last quarter. Company insiders own 5.48% of the company’s stock.

QuantumScape Price Performance

Shares of QuantumScape stock opened at $8.37 on Thursday. 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 fifty-two week low of $3.40 and a fifty-two week high of $15.03. The firm has a fifty day moving average price of $9.23 and a two-hundred day moving average price of $6.02. The company has a market cap of $4.73 billion, a PE ratio of -9.73 and a beta of 4.42.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The company had revenue of $36.67 million during the quarter. During the same period in the previous year, the business posted ($0.25) earnings per share. Analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

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.