Bridgefront Capital LLC Sells 4,861 Shares of QuantumScape Co. (NYSE:QS)

Bridgefront Capital LLC trimmed its holdings in shares of QuantumScape Co. (NYSE:QS – Get Rating) by 32.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,221 shares of the company’s stock after selling 4,861 shares during the period. Bridgefront Capital LLC’s holdings in QuantumScape were worth $86,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of QS. Emfo LLC bought a new stake in shares of QuantumScape during the 3rd quarter worth $32,000. Bray Capital Advisors bought a new position in QuantumScape in the third quarter worth $47,000. Allworth Financial LP raised its holdings in QuantumScape by 485.1% in the third quarter. Allworth Financial LP now owns 6,805 shares of the company’s stock worth $57,000 after purchasing an additional 5,642 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of QuantumScape in the third quarter worth $74,000. Finally, Accel Wealth Management grew its stake in shares of QuantumScape by 36.4% in the third quarter. Accel Wealth Management now owns 8,617 shares of the company’s stock worth $83,000 after acquiring an additional 2,300 shares during the last quarter. 26.09% of the stock is currently owned by institutional investors.

Insider Transactions at QuantumScape

In other news, insider Mohit Singh sold 25,500 shares of QuantumScape stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $7.53, for a total value of $192,015.00. Following the completion of the transaction, the insider now owns 277,794 shares in the company, valued at approximately $2,091,788.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jagdeep Singh sold 355,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $7.78, for a total transaction of $2,761,900.00. Following the completion of the transaction, the chief executive officer now owns 970,877 shares in the company, valued at approximately $7,553,423.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mohit Singh sold 25,500 shares of the business’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $7.53, for a total value of $192,015.00. Following the transaction, the insider now owns 277,794 shares of the company’s stock, valued at approximately $2,091,788.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,457,199 shares of company stock worth $12,957,801. 13.73% of the stock is currently owned by company insiders.

QuantumScape Stock Performance

NYSE:QS opened at $7.48 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 22.91 and a quick ratio of 22.91. QuantumScape Co. has a 1 year low of $5.11 and a 1 year high of $22.21. The stock’s 50 day simple moving average is $8.47 and its two-hundred day simple moving average is $8.16. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -7.87 and a beta of 5.29.

QuantumScape (NYSE:QS – Get Rating) last announced its earnings results on Wednesday, February 15th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. During the same period in the previous year, the firm posted ($0.16) earnings per share. As a group, equities analysts anticipate that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on QS shares. The Goldman Sachs Group cut QuantumScape from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $8.00 to $5.00 in a research report on Wednesday, December 14th. Morgan Stanley decreased their price objective on QuantumScape from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 25th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.20.

QuantumScape Company Profile

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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.