Essex Financial Services Inc. Invests $54,000 in QuantumScape Co. (NYSE:QS)

Essex Financial Services Inc. purchased a new stake in QuantumScape Co. (NYSE:QS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,439 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Signaturefd LLC increased 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 buying an additional 2,148 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of QuantumScape by 32.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock valued at $78,000 after acquiring an additional 3,310 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares in the last quarter. KBC Group NV boosted its holdings in QuantumScape by 9.4% in the third quarter. KBC Group NV now owns 52,622 shares of the company’s stock worth $303,000 after purchasing an additional 4,512 shares during the period. Finally, Blue Trust Inc. increased its stake in QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now owns 241,195 shares in the company, valued at $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 567,878 shares of company stock valued at $3,062,871. Company insiders own 12.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on QS shares. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a report on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, Truist Financial cut their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.06.

QuantumScape Stock Performance

Shares of QS stock opened at $5.26 on Friday. The business has a 50 day simple moving average of $5.27 and a 200 day simple moving average of $5.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.53 and a beta of 4.45. 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 data 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). On average, equities research analysts anticipate that QuantumScape Co. will post -0.99 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.