Ethic Inc. Purchases 21,737 Shares of QuantumScape Corporation $QS

Ethic Inc. lifted its stake in shares of QuantumScape Corporation (NYSE:QS) by 63.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,844 shares of the company’s stock after acquiring an additional 21,737 shares during the quarter. Ethic Inc.’s holdings in QuantumScape were worth $370,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp grew its stake in shares of QuantumScape by 97.2% during the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company’s stock valued at $166,000 after acquiring an additional 19,694 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock valued at $1,577,000 after acquiring an additional 297,097 shares during the period. Perbak Capital Partners LLP bought a new position in shares of QuantumScape during the 1st quarter valued at approximately $353,000. Nuveen LLC bought a new position in shares of QuantumScape during the 1st quarter valued at approximately $2,819,000. Finally, CacheTech Inc. bought a new position in shares of QuantumScape during the 1st quarter valued at approximately $130,000. 29.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Robert W. Baird boosted their price target on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, TD Cowen raised QuantumScape to a “hold” rating in a report on Monday, July 7th. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.47.

Insider Buying and Selling at QuantumScape

In other news, CTO Timothy Holme sold 44,923 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $15.52, for a total transaction of $697,204.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 19,122 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.49, for a total value of $296,199.78. Following the sale, the director directly owned 142,221 shares in the company, valued at $2,203,003.29. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,494,134 shares of company stock worth $35,214,924. Company insiders own 5.48% of the company’s stock.

QuantumScape Stock Up 1.6%

NYSE QS opened at $15.84 on Thursday. The stock has a market cap of $8.96 billion, a PE ratio of -19.55 and a beta of 4.85. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $19.07. The stock’s 50 day moving average is $12.28 and its 200 day moving average is $8.44. The company has a current ratio of 21.14, a quick ratio of 16.40 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of ($36.67) million for the quarter. During the same quarter last year, the business earned ($0.23) earnings per share. Research analysts predict that QuantumScape Corporation will post -0.82 EPS 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.