CacheTech Inc. Takes $130,000 Position in QuantumScape Corporation $QS

Key Points

• CacheTech Inc. has acquired 31,344 shares of QuantumScape Corporation, valued at approximately $130,000, during the first quarter.
• M&T Bank Corp and Cambridge Investment Research Advisors Inc. significantly increased their stakes in QuantumScape, with M&T Bank raising its stake by 97.2% and Cambridge by 362.7%.
• Analyst ratings show a consensus "Hold" rating for QuantumScape, with a price target range between $2.50 and $11.00, indicating mixed perceptions on its stock performance.

CacheTech Inc. purchased a new position in QuantumScape Corporation (NYSE:QS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 31,344 shares of the company's stock, valued at approximately $130,000.

Other hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in QuantumScape in the 4th quarter worth about $26,000. Raiffeisen Bank International AG purchased a new stake in shares of QuantumScape during the 4th quarter valued at about $29,000. Signaturefd LLC lifted its stake in shares of QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after purchasing an additional 5,841 shares during the period. Federated Hermes Inc. lifted its stake in shares of QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares during the period. Finally, Hollencrest Capital Management raised its stake in QuantumScape by 333.3% during the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 29.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Robert W. Baird raised their target price 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, TD Cowen raised shares of QuantumScape to a "hold" rating in a report on Monday, July 7th. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $5.90.

QuantumScape Trading Up 0.1%

NYSE QS traded up $0.0050 on Wednesday, hitting $7.9150. 12,437,755 shares of the stock were exchanged, compared to its average volume of 24,449,545. The firm has a market capitalization of $4.48 billion, a P/E ratio of -9.20 and a beta of 4.43. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $15.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The stock has a fifty day moving average price of $8.31 and a two-hundred day moving average price of $5.69.

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

Insider Activity at QuantumScape

In other news, CTO Timothy Holme sold 11,906 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $7.02, for a total transaction of $83,580.12. Following the completion of the sale, the chief technology officer directly owned 1,661,928 shares of the company's stock, valued at approximately $11,666,734.56. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fritz Prinz sold 929,813 shares of QuantumScape stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.62, for a total value of $10,804,427.06. Following the completion of the sale, the director owned 161,343 shares of the company's stock, valued at $1,874,805.66. The trade was a 85.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,018,040 shares of company stock valued at $35,219,414 over the last ninety days. Company insiders own 5.48% of the company's stock.

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.