QuantumScape Co. (NYSE:QS) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC decreased its holdings in QuantumScape Co. (NYSE:QS) by 54.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,393 shares of the company’s stock after selling 7,530 shares during the period. Wealthfront Advisers LLC’s holdings in QuantumScape were worth $33,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in QuantumScape in the 4th quarter valued at about $26,000. Blue Trust Inc. grew its holdings in QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after buying an additional 4,556 shares during the period. Empowered Funds LLC purchased a new stake in QuantumScape in the 4th quarter valued at about $53,000. Atlas Legacy Advisors LLC purchased a new stake in QuantumScape in the 4th quarter valued at about $53,000. Finally, Essex Financial Services Inc. purchased a new stake in shares of QuantumScape during the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Down 1.9 %

NYSE QS opened at $4.38 on Wednesday. The stock has a market cap of $2.39 billion, a PE ratio of -4.65 and a beta of 4.45. QuantumScape Co. has a fifty-two week low of $4.05 and a fifty-two week high of $9.52. The business has a 50 day moving average price of $4.96 and a two-hundred day moving average price of $5.24. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly 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). As a group, sell-side analysts predict that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, Truist Financial decreased their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and an average target price of $6.06.

Insider Buying and Selling at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 277,452 shares of company stock valued at $1,542,942 in the last three months. Corporate insiders own 12.03% of the company’s stock.

QuantumScape Company 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.