Belpointe Asset Management LLC Takes Position in QuantumScape Co. (NYSE:QS)

Belpointe Asset Management LLC purchased a new stake in QuantumScape Co. (NYSE:QS – Get Rating) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 8,078 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of QuantumScape by 11.9% in the third quarter. Vanguard Group Inc. now owns 20,555,744 shares of the company’s stock worth $172,874,000 after purchasing an additional 2,178,359 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of QuantumScape in the fourth quarter worth $6,180,000. Two Sigma Investments LP grew its stake in shares of QuantumScape by 22.4% in the third quarter. Two Sigma Investments LP now owns 4,275,001 shares of the company’s stock worth $35,953,000 after purchasing an additional 782,558 shares in the last quarter. Swiss National Bank bought a new position in shares of QuantumScape in the fourth quarter worth $3,591,000. Finally, Renaissance Technologies LLC grew its stake in shares of QuantumScape by 118.4% in the first quarter. Renaissance Technologies LLC now owns 738,700 shares of the company’s stock worth $14,767,000 after purchasing an additional 400,500 shares in the last quarter. 26.09% of the stock is currently owned by institutional investors.

Insider Activity at QuantumScape

In related news, CEO Jagdeep Singh sold 355,000 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $7.78, for a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other QuantumScape news, insider Michael O. Mccarthy III sold 186,333 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $9.03, for a total transaction of $1,682,586.99. Following the completion of the sale, the insider now directly owns 725,340 shares in the company, valued at approximately $6,549,820.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagdeep Singh sold 355,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $7.78, for a total value of $2,761,900.00. Following the sale, the chief executive officer now owns 970,877 shares of the company’s stock, valued at $7,553,423.06. The disclosure for this sale can be found here. Insiders sold 1,199,199 shares of company stock worth $10,393,446 in the last quarter. 13.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on QS. Morgan Stanley decreased their price target on QuantumScape from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Wednesday, January 25th. The Goldman Sachs Group decreased their target price on QuantumScape from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Wednesday, April 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on QuantumScape from $10.00 to $8.00 in a research note on Friday, April 28th.

QuantumScape Trading Down 3.0 %

Shares of QS stock opened at $6.45 on Thursday. The stock has a 50-day simple moving average of $7.10 and a 200 day simple moving average of $7.42. QuantumScape Co. has a fifty-two week low of $5.11 and a fifty-two week high of $13.86. The stock has a market capitalization of $2.86 billion, a P/E ratio of -6.58 and a beta of 5.13. The company has a quick ratio of 22.85, a current ratio of 22.85 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). During the same quarter last year, the business posted ($0.21) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.92 earnings per share for the current fiscal year.

About QuantumScape

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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.