Rhumbline Advisers Trims Position in QuantumScape Corporation $QS

Rhumbline Advisers lowered its holdings in QuantumScape Corporation (NYSE:QS) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,789 shares of the company’s stock after selling 4,795 shares during the period. Rhumbline Advisers owned 0.06% of QuantumScape worth $1,297,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after buying an additional 5,841 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape during the 4th quarter valued at about $26,000. Federated Hermes Inc. lifted its holdings in shares of QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after acquiring an additional 5,438 shares during the period. Hollencrest Capital Management lifted its holdings in shares of QuantumScape by 333.3% during the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 5,000 shares during the period. Finally, Quarry LP acquired a new stake in shares of QuantumScape in the first quarter worth approximately $37,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Timothy Holme sold 358,330 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief technology officer directly owned 1,705,428 shares of the company’s stock, valued at $11,989,158.84. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fritz Prinz sold 929,813 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $11.62, for a total value of $10,804,427.06. Following the sale, the director owned 161,343 shares in the company, valued at $1,874,805.66. The trade was a 85.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,406,051 shares of company stock valued at $38,768,188. 5.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QS has been the subject of several research analyst reports. TD Cowen raised shares of QuantumScape to a “hold” rating in a research report on Monday, July 7th. Robert W. Baird boosted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.88.

QuantumScape Stock Up 10.7%

Shares of NYSE:QS opened at $13.43 on Friday. The firm has a market cap of $7.60 billion, a PE ratio of -15.62 and a beta of 4.42. The company has a fifty day simple moving average of $9.62 and a 200 day simple moving average of $6.31. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $15.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same period in the prior year, the company posted ($0.25) earnings per share. On average, equities research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current fiscal 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.