Arthedge Capital Management LLC Purchases 92,000 Shares of QuantumScape Co. (NYSE:QS)

Arthedge Capital Management LLC raised its holdings in shares of QuantumScape Co. (NYSE:QS) by 14.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 723,000 shares of the company’s stock after purchasing an additional 92,000 shares during the period. QuantumScape accounts for about 2.7% of Arthedge Capital Management LLC’s portfolio, making the stock its 11th largest position. Arthedge Capital Management LLC owned 0.14% of QuantumScape worth $4,157,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QS. California State Teachers Retirement System increased its holdings in shares of QuantumScape by 2.3% during the first quarter. California State Teachers Retirement System now owns 344,306 shares of the company’s stock valued at $2,166,000 after acquiring an additional 7,585 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of QuantumScape by 202.0% during the first quarter. Tidal Investments LLC now owns 137,755 shares of the company’s stock worth $866,000 after buying an additional 92,142 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of QuantumScape during the first quarter worth $1,002,000. Mather Group LLC. acquired a new position in shares of QuantumScape in the 2nd quarter valued at $36,000. Finally, CWM LLC lifted its position in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Up 1.0 %

NYSE QS opened at $5.23 on Monday. The business has a fifty day moving average price of $5.35 and a 200 day moving average price of $5.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $2.68 billion, a P/E ratio of -5.51 and a beta of 4.60. QuantumScape Co. has a one year low of $4.65 and a one year high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the firm earned ($0.23) EPS. Research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kevin Hettrich sold 58,000 shares of QuantumScape stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $5.90, for a total transaction of $625,895.60. Following the completion of the transaction, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. The trade was a 8.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 702,057 shares of company stock worth $3,982,909 over the last ninety days. 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.