Empowered Funds LLC Makes New Investment in QuantumScape Co. (NYSE:QS)

Empowered Funds LLC purchased a new stake in QuantumScape Co. (NYSE:QS) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,262 shares of the company’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC increased its position in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares in the last quarter. PFG Investments LLC increased its holdings in shares of QuantumScape by 29.8% during the third quarter. PFG Investments LLC now owns 20,415 shares of the company’s stock valued at $117,000 after acquiring an additional 4,688 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after purchasing an additional 133,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in QuantumScape by 137.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 28,350 shares of the company’s stock worth $163,000 after purchasing an additional 16,400 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

Shares of QS opened at $5.18 on Friday. The business’s 50-day moving average is $5.29 and its two-hundred day moving average is $5.40. The company has a market capitalization of $2.65 billion, a P/E ratio of -5.51 and a beta of 4.45. QuantumScape Co. has a fifty-two week low of $4.65 and a fifty-two week high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced 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). Research analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now owns 1,092,020 shares of the company’s stock, 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 can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 615,216 shares of company stock worth $3,327,157. 12.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, February 14th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Finally, Evercore ISI reduced their price objective on QuantumScape from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.06.

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.