HighTower Advisors LLC Sells 6,302 Shares of QuantumScape Co. (NYSE:QS)

HighTower Advisors LLC lowered its position in QuantumScape Co. (NYSE:QS) by 23.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,773 shares of the company’s stock after selling 6,302 shares during the period. HighTower Advisors LLC’s holdings in QuantumScape were worth $108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in QS. Geode Capital Management LLC boosted its stake in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of QuantumScape during the fourth quarter valued at approximately $1,275,000. Weiss Asset Management LP bought a new stake in shares of QuantumScape in the 3rd quarter worth approximately $828,000. Charles Schwab Investment Management Inc. grew its stake in shares of QuantumScape by 4.7% in 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 during the last quarter. Finally, Oak Harbor Wealth Partners LLC increased its position in QuantumScape by 274.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Down 4.4 %

QS stock opened at $3.82 on Friday. The stock has a market capitalization of $2.09 billion, a P/E ratio of -4.06 and a beta of 4.37. 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 $3.53 and a 1-year high of $9.52. The business has a fifty day moving average price of $4.70 and a 200-day moving average price of $5.13.

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

Insider Activity

In related news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.22, for a total transaction of $67,379.76. Following the completion of the sale, the director now directly owns 228,287 shares in the company, valued at approximately $1,191,658.14. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 76,315 shares of the company’s 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 sale, the insider now directly owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,147 shares of company stock valued at $935,758 over the last three months. Insiders own 12.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on QS shares. Evercore ISI reissued a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Truist Financial cut their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.06.

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.