Fulcrum Asset Management LLP acquired a new stake in QuantumScape Corporation (NYSE:QS – Free Report) in the third quarter, Holdings Channel reports. The institutional investor acquired 206,454 shares of the company’s stock, valued at approximately $948,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its position in shares of QuantumScape by 101.5% in the second quarter. TD Waterhouse Canada Inc. now owns 5,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,700 shares during the period. Vestor Capital LLC grew its position in shares of QuantumScape by 255.2% during the 1st quarter. Vestor Capital LLC now owns 8,000 shares of the company’s stock valued at $51,000 after acquiring an additional 5,748 shares during the period. Taylor & Morgan Wealth Management LLC acquired a new stake in shares of QuantumScape during the 2nd quarter valued at about $88,000. OceanIQ Capital LLC acquired a new stake in shares of QuantumScape during the 2nd quarter valued at about $91,000. Finally, First Trust Advisors LP purchased a new position in shares of QuantumScape in the 1st quarter valued at about $77,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on QS. Robert W. Baird reduced their price target on QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. Morgan Stanley lowered their price target on QuantumScape from $8.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, October 15th. William Blair raised QuantumScape to a “hold” rating in a report on Thursday, October 22nd. Finally, TD Cowen dropped their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Six analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.36.
View Our Latest Stock Report on QuantumScape
Insider Activity
In other news, CTO Timothy Holme sold 45,000 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $4.54, for a total transaction of $204,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 294,599 shares of company stock valued at $1,473,271 in the last quarter. 3.93% of the stock is owned by company insiders.
QuantumScape Price Performance
QuantumScape stock opened at $3.88 on Friday. The stock has a market capitalization of $2.41 billion, a P/E ratio of -4.79 and a beta of 2.83. The company’s fifty day moving average price is $4.55 and its 200 day moving average price is $6.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. QuantumScape Corporation has a 1 year low of $3.80 and a 1 year high of $14.53.
QuantumScape (NYSE:QS – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. As a group, equities research analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.
QuantumScape Profile
QuantumScape Corporation develops solid-state lithium-metal battery technology, primarily for use in electric vehicles. Its battery design replaces the conventional liquid electrolyte found in many lithium-ion batteries with a solid separator, with the goal of supporting higher energy density, faster charging and improved safety. Founded in 2010 and headquartered in San Jose, California, the company focuses on researching, testing and scaling its battery technology rather than selling mass-market batteries.
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