Spire Wealth Management Acquires 8,200 Shares of QuantumScape Corporation $QS

Spire Wealth Management lifted its holdings in shares of QuantumScape Corporation (NYSE:QS) by 256.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,400 shares of the company’s stock after acquiring an additional 8,200 shares during the period. Spire Wealth Management’s holdings in QuantumScape were worth $77,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC lifted its holdings in shares of QuantumScape by 12.9% during the 2nd quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company’s stock worth $147,000 after acquiring an additional 2,495 shares during the period. Birchcreek Wealth Management LLC lifted its holdings in shares of QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock worth $105,000 after acquiring an additional 2,600 shares during the period. HighTower Advisors LLC lifted its holdings in shares of QuantumScape by 13.7% during the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock worth $98,000 after acquiring an additional 2,838 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of QuantumScape by 7.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 61,065 shares of the company’s stock worth $410,000 after acquiring an additional 4,227 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of QuantumScape by 9.7% during the 1st quarter. Victory Capital Management Inc. now owns 48,399 shares of the company’s stock worth $201,000 after acquiring an additional 4,293 shares during the period. 29.87% of the stock is owned by institutional investors.

Insider Activity at QuantumScape

In other news, Director Brad W. Buss sold 300,000 shares of QuantumScape stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $17.98, for a total transaction of $5,394,000.00. Following the completion of the sale, the director owned 122,476 shares in the company, valued at $2,202,118.48. The trade was a 71.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mohit Singh sold 220,000 shares of QuantumScape stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.09, for a total transaction of $3,319,800.00. Following the sale, the insider owned 1,420,054 shares of the company’s stock, valued at approximately $21,428,614.86. This represents a 13.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,844,134 shares of company stock worth $41,397,924 over the last 90 days. Insiders own 5.48% of the company’s stock.

QuantumScape Trading Up 10.5%

QS opened at $17.06 on Thursday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $10.26 billion, a PE ratio of -21.06 and a beta of 4.83. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The firm has a 50-day moving average price of $13.13 and a two-hundred day moving average price of $8.88.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same period in the previous year, the firm earned ($0.23) EPS. As a group, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Cowen reaffirmed a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. TD Cowen lifted their price target on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. 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 report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, QuantumScape currently has an average rating of “Reduce” and an average price target of $7.66.

About QuantumScape

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.