Clarity Capital Partners LLC Decreases Stock Holdings in QuantumScape Co. (NYSE:QS)

Clarity Capital Partners LLC reduced its stake in shares of QuantumScape Co. (NYSE:QS) by 52.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the company’s stock after selling 11,600 shares during the quarter. Clarity Capital Partners LLC’s holdings in QuantumScape were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after acquiring an additional 3,527 shares during the period. Signaturefd LLC grew its holdings in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares in the last quarter. PFG Investments LLC raised its stake in shares of QuantumScape by 29.8% during the 3rd quarter. PFG Investments LLC now owns 20,415 shares of the company’s stock worth $117,000 after buying an additional 4,688 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after buying an additional 133,000 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QS. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reissued a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Up 1.7 %

Shares of NYSE QS opened at $4.84 on Thursday. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $5.26 and a 200-day simple moving average of $5.45. QuantumScape Co. has a 12 month low of $4.65 and a 12 month high of $9.52.

QuantumScape (NYSE:QS) last issued its quarterly earnings results 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 anticipate that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the sale, the director now directly owns 241,195 shares of the company’s stock, valued at $1,215,622.80. The trade was a 5.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 567,878 shares of company stock worth $3,062,871. 12.03% of the stock is currently owned by insiders.

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.