Commonwealth Equity Services LLC Boosts Holdings in QuantumScape Co. (NYSE:QS)

Commonwealth Equity Services LLC increased its stake in shares of QuantumScape Co. (NYSE:QSGet Rating) by 10.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 309,124 shares of the company’s stock after buying an additional 30,008 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of QuantumScape worth $6,179,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of QuantumScape in the fourth quarter worth about $25,000. Atticus Wealth Management LLC purchased a new position in shares of QuantumScape in the first quarter worth about $27,000. Fifth Third Bancorp boosted its position in shares of QuantumScape by 103.6% in the first quarter. Fifth Third Bancorp now owns 1,425 shares of the company’s stock valued at $28,000 after acquiring an additional 725 shares during the period. HHM Wealth Advisors LLC boosted its position in shares of QuantumScape by 148.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 1,365 shares of the company’s stock valued at $30,000 after acquiring an additional 815 shares during the period. Finally, Nauset Wealth Management. LLC bought a new position in shares of QuantumScape in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 25.68% of the company’s stock.

QuantumScape Trading Up 7.2 %

Shares of QuantumScape stock opened at $11.18 on Wednesday. QuantumScape Co. has a 1 year low of $8.22 and a 1 year high of $43.08. The firm has a market cap of $4.81 billion, a PE ratio of -15.53 and a beta of 6.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 48.57 and a quick ratio of 48.57. The company has a 50 day simple moving average of $10.31 and a two-hundred day simple moving average of $14.03.

QuantumScape (NYSE:QSGet Rating) last announced its earnings results on Wednesday, July 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). QuantumScape’s revenue was up NaN% on a year-over-year basis. During the same quarter last year, the company posted ($0.44) EPS. Analysts expect that QuantumScape Co. will post -0.89 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other news, insider Michael O. Mccarthy III sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $11.94, for a total value of $238,800.00. Following the completion of the sale, the insider now directly owns 496,925 shares in the company, valued at approximately $5,933,284.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Michael O. Mccarthy III sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $11.94, for a total value of $238,800.00. Following the completion of the sale, the insider now directly owns 496,925 shares in the company, valued at approximately $5,933,284.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Timothy Holme sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $11.93, for a total transaction of $3,579,000.00. Following the completion of the sale, the chief technology officer now owns 356,792 shares of the company’s stock, valued at $4,256,528.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,748 shares of company stock worth $9,886,967. 16.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

QS has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of QuantumScape from $30.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. The Goldman Sachs Group cut their price objective on shares of QuantumScape from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, June 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of QuantumScape from $20.00 to $13.00 in a research report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.00.

QuantumScape Company Profile

(Get Rating)

QuantumScape Corporation, a 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.

Recommended Stories

Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

Want More Great Investing Ideas?

Receive News & Ratings for QuantumScape Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuantumScape and related companies with MarketBeat.com's FREE daily email newsletter.