Cookson Peirce & Co. Inc. Purchases New Stake in QuantumScape Co. (NYSE:QS)

Cookson Peirce & Co. Inc. acquired a new stake in shares of QuantumScape Co. (NYSE:QS) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 35,000 shares of the company’s stock, valued at approximately $243,000.

Other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC bought a new stake in shares of QuantumScape during the fourth quarter valued at about $81,000. Vontobel Holding Ltd. grew its position in QuantumScape by 9.2% during the fourth quarter. Vontobel Holding Ltd. now owns 206,147 shares of the company’s stock valued at $1,433,000 after acquiring an additional 17,298 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in QuantumScape during the fourth quarter valued at approximately $347,000. Simplicity Solutions LLC bought a new position in QuantumScape during the fourth quarter valued at approximately $719,000. Finally, Cerity Partners LLC grew its position in QuantumScape by 23.7% during the fourth quarter. Cerity Partners LLC now owns 12,753 shares of the company’s stock valued at $88,000 after acquiring an additional 2,442 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on QS shares. Robert W. Baird increased their price objective on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Truist Financial increased their price objective on QuantumScape from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.71.

QuantumScape Price Performance

Shares of NYSE:QS opened at $5.58 on Thursday. QuantumScape Co. has a 1-year low of $4.99 and a 1-year high of $13.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The business has a fifty day moving average price of $6.22 and a 200-day moving average price of $6.46.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the company posted ($0.25) earnings per share. As a group, analysts anticipate that QuantumScape Co. will post -0.87 EPS for the current year.

Insider Activity

In related news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the sale, the director now directly owns 292,644 shares in the company, valued at approximately $1,966,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the sale, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the transaction, the director now directly owns 292,644 shares in the company, valued at $1,966,567.68. The disclosure for this sale can be found here. Insiders sold 194,970 shares of company stock worth $1,250,775 over the last three months. 10.18% of the stock is currently owned by corporate insiders.

QuantumScape Company 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.