Quantbot Technologies LP Cuts Stake in QuantumScape Co. (NYSE:QS)

Quantbot Technologies LP cut its position in QuantumScape Co. (NYSE:QS) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 198,755 shares of the company’s stock after selling 19,060 shares during the period. Quantbot Technologies LP’s holdings in QuantumScape were worth $1,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QS. Heck Capital Advisors LLC purchased a new position in QuantumScape in the 4th quarter worth approximately $26,000. Blue Trust Inc. raised its stake in shares of QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after purchasing an additional 4,556 shares during the last quarter. Atlas Legacy Advisors LLC bought a new position in shares of QuantumScape during the fourth quarter valued at $53,000. Empowered Funds LLC purchased a new stake in shares of QuantumScape during the fourth quarter valued at $53,000. Finally, Essex Financial Services Inc. bought a new stake in QuantumScape in the 4th quarter worth about $54,000. Institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the completion of the transaction, the chief financial officer now owns 1,024,325 shares of the company’s stock, valued at approximately $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 277,452 shares of company stock valued at $1,542,942. Company insiders own 12.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial lowered their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.06.

QuantumScape Price Performance

Shares of NYSE:QS opened at $4.70 on Wednesday. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.57 billion, a PE ratio of -5.00 and a beta of 4.45. The firm’s 50 day moving average price is $4.86 and its 200-day moving average price is $5.21. QuantumScape Co. has a twelve month low of $4.05 and a twelve month high of $9.52.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Equities research analysts expect that QuantumScape Co. will post -0.82 EPS for the current year.

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.