Farther Finance Advisors LLC Raises Stake in QuantumScape Corporation $QS

Farther Finance Advisors LLC boosted its stake in QuantumScape Corporation (NYSE:QS) by 39.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,400 shares of the company’s stock after purchasing an additional 6,084 shares during the quarter. Farther Finance Advisors LLC’s holdings in QuantumScape were worth $144,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Birchcreek Wealth Management LLC grew its holdings in QuantumScape by 11.5% in the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock valued at $105,000 after purchasing an additional 2,600 shares during the period. HighTower Advisors LLC grew its holdings in QuantumScape by 13.7% in the first quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock valued at $98,000 after purchasing an additional 2,838 shares during the period. Wealthfront Advisers LLC grew its holdings in QuantumScape by 22.6% in the first quarter. Wealthfront Advisers LLC now owns 19,349 shares of the company’s stock valued at $80,000 after purchasing an additional 3,571 shares during the period. Victory Capital Management Inc. grew its holdings in QuantumScape by 9.7% in the first quarter. Victory Capital Management Inc. now owns 48,399 shares of the company’s stock valued at $201,000 after purchasing an additional 4,293 shares during the period. Finally, Hollencrest Capital Management grew its holdings in 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 purchasing an additional 5,000 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

QuantumScape Trading Down 2.3%

Shares of QS stock opened at $14.26 on Friday. The firm’s 50 day moving average price is $9.74 and its two-hundred day moving average price is $6.86. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $15.24. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of -16.58 and a beta of 4.85.

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

Insider Buying and Selling at QuantumScape

In other news, insider Mohit Singh sold 465,000 shares of the business’s stock in a transaction on 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 transaction, the insider directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 929,813 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the transaction, the director directly owned 161,343 shares in the company, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,469,940 shares of company stock valued at $25,417,775. 5.48% of the stock is owned by company insiders.

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.