JPMorgan Chase & Co. Sells 4,219 Shares of QuantumScape Co. (NYSE:QS)

JPMorgan Chase & Co. reduced its stake in shares of QuantumScape Co. (NYSE:QS) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,787 shares of the company’s stock after selling 4,219 shares during the quarter. JPMorgan Chase & Co.’s holdings in QuantumScape were worth $942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC grew its position in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the last quarter. International Assets Investment Management LLC boosted its stake in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares in the last quarter. Centaurus Financial Inc. acquired a new position in QuantumScape in the second quarter worth $52,000. Atom Investors LP acquired a new stake in shares of QuantumScape in the third quarter valued at $60,000. Finally, Nwam LLC bought a new position in shares of QuantumScape in the third quarter valued at about $64,000. 29.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other QuantumScape news, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.07, for a total transaction of $138,436.35. Following the sale, the insider now directly owns 1,129,167 shares in the company, valued at $5,724,876.69. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin Hettrich sold 55,647 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the sale, the chief financial officer now owns 1,022,743 shares in the company, valued at $5,164,852.15. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock worth $2,903,619 in the last 90 days. Company insiders own 12.03% of the company’s stock.

QuantumScape Price Performance

NYSE:QS opened at $5.16 on Friday. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $5.28 and a 200 day simple moving average of $5.70. QuantumScape Co. has a 1-year low of $4.65 and a 1-year high of $9.52. The stock has a market capitalization of $2.65 billion, a PE ratio of -5.43 and a beta of 4.46.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the company posted ($0.23) earnings per share. On average, research analysts expect that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial reissued a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.26.

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.