North Capital Inc. Purchases New Holdings in QuantumScape Corporation $QS

North Capital Inc. acquired a new position in QuantumScape Corporation (NYSE:QS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,090 shares of the company’s stock, valued at approximately $27,000.

Several other large investors also recently bought and sold shares of QS. Wealthfront Advisers LLC increased its position in shares of QuantumScape by 12.9% during the second quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company’s stock worth $147,000 after purchasing an additional 2,495 shares in the last quarter. Birchcreek Wealth Management LLC raised its position in shares of QuantumScape by 11.5% in the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock valued at $105,000 after buying an additional 2,600 shares during the last quarter. HighTower Advisors LLC boosted its position in QuantumScape by 13.7% during the first quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock worth $98,000 after acquiring an additional 2,838 shares during the last quarter. Bank of Montreal Can grew its stake in QuantumScape by 15.2% during the 2nd quarter. Bank of Montreal Can now owns 27,115 shares of the company’s stock valued at $182,000 after acquiring an additional 3,573 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in QuantumScape by 7.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 61,065 shares of the company’s stock valued at $410,000 after acquiring an additional 4,227 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $15.78, for a total value of $789,000.00. Following the completion of the transaction, the insider owned 1,376,118 shares of the company’s stock, valued at $21,715,142.04. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mohit Singh sold 220,000 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.09, for a total value of $3,319,800.00. Following the sale, the insider directly owned 1,420,054 shares in the company, valued at $21,428,614.86. This represents a 13.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,844,134 shares of company stock valued at $41,397,924. 5.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QS. TD Cowen boosted their target price on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Robert W. Baird upped their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $7.66.

QuantumScape Stock Performance

Shares of QS stock opened at $15.91 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The firm has a market cap of $9.57 billion, a P/E ratio of -19.64 and a beta of 4.83. The firm’s 50 day moving average price is $13.28 and its 200-day moving average price is $8.93. QuantumScape Corporation has a one year low of $3.40 and a one year high of $19.07.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of ($36.67) million during the quarter. During the same quarter last year, the firm posted ($0.23) earnings per share. As a group, equities research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

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.