Commonwealth Equity Services LLC Boosts Stake in QuantumScape Co. (NYSE:QS)

Commonwealth Equity Services LLC boosted its holdings in shares of QuantumScape Co. (NYSE:QS) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 481,916 shares of the company’s stock after acquiring an additional 41,712 shares during the quarter. Commonwealth Equity Services LLC owned 0.09% of QuantumScape worth $2,501,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in QuantumScape during the 4th quarter valued at $1,275,000. Weiss Asset Management LP purchased a new stake in shares of QuantumScape in the 3rd quarter worth $828,000. Charles Schwab Investment Management Inc. grew its position in shares of QuantumScape by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock worth $12,103,000 after buying an additional 104,894 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC increased its stake in shares of QuantumScape by 274.6% during the fourth quarter. Oak Harbor Wealth Partners LLC now owns 135,189 shares of the company’s stock valued at $702,000 after buying an additional 99,100 shares during the period. Institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

QS opened at $4.56 on Thursday. The firm has a market capitalization of $2.50 billion, a PE ratio of -4.85 and a beta of 4.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The business’s 50-day moving average is $4.85 and its two-hundred day moving average is $5.20. QuantumScape Co. has a 1 year low of $4.05 and a 1 year high of $9.52.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Research analysts anticipate that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other news, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was 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. The trade was a 8.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 76,315 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the transaction, the insider now directly owns 1,010,523 shares of the company’s stock, valued at $5,285,035.29. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 277,452 shares of company stock valued at $1,542,942. Corporate insiders own 12.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.