Raymond James Financial Inc. Acquires New Shares in QuantumScape Co. (NYSE:QS)

Raymond James Financial Inc. bought a new position in shares of QuantumScape Co. (NYSE:QS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 294,163 shares of the company’s stock, valued at approximately $1,527,000. Raymond James Financial Inc. owned approximately 0.06% of QuantumScape at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of QuantumScape during the 4th quarter valued at $1,275,000. Geode Capital Management LLC increased its position in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares during the period. Weiss Asset Management LP purchased a new stake in shares of QuantumScape in the third quarter worth about $828,000. SG Americas Securities LLC boosted its position in shares of QuantumScape by 127.0% in the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock valued at $1,062,000 after acquiring an additional 114,504 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in QuantumScape by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock valued at $12,103,000 after acquiring an additional 104,894 shares in the last quarter. 29.87% of the stock is owned by institutional investors.

QuantumScape Trading Down 2.0 %

Shares of QS opened at $4.08 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. QuantumScape Co. has a 1-year low of $4.03 and a 1-year high of $9.52. The company has a market capitalization of $2.23 billion, a P/E ratio of -4.34 and a beta of 4.45. The firm’s 50 day simple moving average is $4.77 and its 200 day simple moving average is $5.16.

QuantumScape (NYSE:QS) last posted its quarterly earnings data 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). Sell-side analysts forecast that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, 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 transaction, the insider now directly owns 1,010,523 shares in the company, valued at $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the transaction, the director now directly owns 228,287 shares in the company, valued at $1,191,658.14. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,147 shares of company stock worth $935,758 over the last 90 days. Corporate insiders own 12.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

QuantumScape 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.