HighPoint Advisor Group LLC Purchases New Position in QuantumScape Co. (NYSE:QS)

HighPoint Advisor Group LLC acquired a new position in QuantumScape Co. (NYSE:QS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,992 shares of the company’s stock, valued at approximately $97,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Citigroup Inc. raised its holdings in shares of QuantumScape by 97.7% during the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after acquiring an additional 51,934 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of QuantumScape by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock valued at $77,000 after purchasing an additional 2,861 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of QuantumScape by 26.4% during the fourth quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock valued at $304,000 after buying an additional 9,135 shares during the period. Scotia Capital Inc. bought a new position in QuantumScape in the third quarter worth about $95,000. Finally, HBK Sorce Advisory LLC lifted its holdings in QuantumScape by 11.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock worth $150,000 after buying an additional 2,264 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Buying and Selling at QuantumScape

In other news, Director Jagdeep Singh sold 192,280 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $5.85, for a total transaction of $1,124,838.00. Following the sale, the director now owns 2,809,253 shares in the company, valued at $16,434,130.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Jagdeep Singh sold 192,280 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $5.85, for a total value of $1,124,838.00. Following the completion of the transaction, the director now owns 2,809,253 shares in the company, valued at $16,434,130.05. The transaction was disclosed in a document filed 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 company’s stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 487,559 shares of company stock worth $2,752,186. 10.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. UBS Group decreased their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Two 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.67.

QuantumScape Price Performance

Shares of NYSE:QS opened at $4.92 on Friday. The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $5.55 and a two-hundred day simple moving average of $6.33. QuantumScape Co. has a 12-month low of $4.76 and a 12-month high of $13.86. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -5.13 and a beta of 4.69.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). On average, research analysts anticipate that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

About QuantumScape

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.