111 Capital Acquires Shares of 19,497 QuantumScape Corporation $QS

Key Points

• 111 Capital has acquired 19,497 shares of QuantumScape Corporation, valued at approximately $131,000, indicating continued institutional interest in the company during Q2.
• Equity analysts have current mixed ratings on QuantumScape, with recent upgrades from TD Cowen to a "hold" rating, while the consensus target price is set at $5.88.
• Insider selling has occurred recently, with Jeffrey B. Straubel and Michael O. Mccarthy III selling significant shares, reflecting a combined reduction in ownership of over 25% for each individual.

111 Capital acquired a new stake in QuantumScape Corporation (NYSE:QS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,497 shares of the company's stock, valued at approximately $131,000.

Several other institutional investors and hedge funds have also recently modified their holdings of QS. Wedmont Private Capital acquired a new position in shares of QuantumScape in the first quarter valued at $103,000. Optas LLC acquired a new position in shares of QuantumScape in the first quarter valued at $63,000. Sowell Financial Services LLC acquired a new position in shares of QuantumScape in the first quarter valued at $58,000. Cornerstone Wealth Management LLC acquired a new position in shares of QuantumScape in the first quarter valued at $55,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of QuantumScape by 362.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock valued at $1,577,000 after purchasing an additional 297,097 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on QS shares. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a report on Monday, July 7th. 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of QuantumScape in a research note on Saturday, September 27th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $5.88.

Insider Activity at QuantumScape

In other news, Director Jeffrey B. Straubel sold 157,180 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $9.20, for a total value of $1,446,056.00. Following the completion of the transaction, the director owned 348,146 shares of the company's stock, valued at approximately $3,202,943.20. This represents a 31.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 500,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the completion of the transaction, the insider directly owned 1,467,183 shares of the company's stock, valued at $17,019,322.80. This trade represents a 25.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,327,870 shares of company stock worth $26,819,135 over the last three months. 5.48% of the stock is owned by insiders.

QuantumScape Trading Down 2.4%

Shares of QuantumScape stock opened at $15.34 on Wednesday. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of -17.83 and a beta of 4.85. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $16.68. The firm's 50-day moving average price is $10.03 and its two-hundred day moving average price is $7.11.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million during the quarter. During the same period in the prior year, the business earned ($0.25) earnings per share. On average, analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

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.

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