Kingsview Wealth Management LLC Makes New $167,000 Investment in QuantumScape Co. (NYSE:QS)

Kingsview Wealth Management LLC acquired a new position in QuantumScape Co. (NYSE:QS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,957 shares of the company’s stock, valued at approximately $167,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after purchasing an additional 5,483,319 shares during the period. Baillie Gifford & Co. grew its holdings in shares of QuantumScape by 53.6% during the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock valued at $17,268,000 after buying an additional 900,249 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of QuantumScape by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,975,157 shares of the company’s stock valued at $13,727,000 after buying an additional 81,941 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of QuantumScape by 5.1% during the third quarter. Bank of New York Mellon Corp now owns 927,473 shares of the company’s stock valued at $6,205,000 after buying an additional 44,616 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of QuantumScape by 17.6% during the third quarter. Swiss National Bank now owns 692,500 shares of the company’s stock valued at $4,633,000 after buying an additional 103,800 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group cut their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Truist Financial cut their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Finally, Robert W. Baird increased their price target on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.09.

Insiders Place Their Bets

In other QuantumScape news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total value of $129,008.88. Following the transaction, the insider now directly owns 1,207,500 shares in the company, valued at $6,906,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $6.11, for a total transaction of $211,448.77. Following the sale, the chief financial officer now directly owns 556,302 shares in the company, valued at approximately $3,399,005.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 22,554 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total transaction of $129,008.88. Following the sale, the insider now owns 1,207,500 shares in the company, valued at $6,906,900. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,456 shares of company stock worth $944,905. Company insiders own 10.18% of the company’s stock.

QuantumScape Trading Down 4.1 %

Shares of QuantumScape stock opened at $5.54 on Friday. The company’s 50 day moving average is $5.74 and its 200 day moving average is $6.39. QuantumScape Co. has a twelve month low of $4.92 and a twelve month high of $13.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Research analysts predict that QuantumScape Co. will post -0.9 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.