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. acquired a new stake in QuantumScape Corporation (NYSE:QS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 31,344 shares of the company's stock, valued at approximately $130,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in shares of QuantumScape by 2,086.1% during 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 in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape during the 4th quarter worth $26,000. Federated Hermes Inc. grew its holdings in shares of QuantumScape by 660.0% during 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 in the last quarter. Hollencrest Capital Management grew its holdings in shares of 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 purchasing an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of QuantumScape during the 4th quarter worth $29,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QuantumScape news, insider Michael O. Mccarthy III sold 500,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.60, for a total value of $5,800,000.00. Following the sale, the insider directly owned 1,467,183 shares in the company, valued at $17,019,322.80. The trade was a 25.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mohit Singh sold 465,000 shares of QuantumScape stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the completion of the transaction, the insider owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,956,517 shares of company stock valued at $34,977,013. 5.48% of the stock is owned by insiders.

QuantumScape Trading Down 0.7%

NYSE QS traded down $0.0550 during trading hours on Thursday, hitting $7.8550. 6,045,275 shares of the company's stock were exchanged, compared to its average volume of 24,346,674. The stock has a 50-day simple moving average of $8.37 and a 200 day simple moving average of $5.71. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $15.03. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -9.13 and a beta of 4.43. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on QS shares. The Goldman Sachs Group dropped their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday, July 7th. Finally, Robert W. Baird upped their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, QuantumScape has a consensus rating of "Reduce" and a consensus price target of $5.90.

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.