44,142 Shares in QuantumScape Corporation $QS Bought by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC has acquired 44,142 shares of QuantumScape Corporation, valued at approximately $297,000, marking a new position for the firm.
• Several institutional investors significantly increased their stakes in QuantumScape during the first quarter, with Signaturefd LLC's stake growing by 2,086.1%.
• Insiders sold over 2.4 million shares of QuantumScape stock in the last quarter, indicating a 31.10% decrease in ownership by Director Jeffrey B. Straubel alone.

GC Wealth Management RIA LLC acquired a new position in shares of QuantumScape Corporation (NYSE:QS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,142 shares of the company's stock, valued at approximately $297,000.

A number of other institutional investors have also made changes to their positions in QS. Signaturefd LLC grew its stake in shares of QuantumScape by 2,086.1% during the first 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. grew its stake in shares of QuantumScape by 660.0% during the first 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. Hollencrest Capital Management grew its stake in shares of QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after purchasing an additional 5,000 shares during the period. Quarry LP acquired a new stake in shares of QuantumScape during the first quarter worth $37,000. Finally, Freedom Investment Management Inc. acquired a new stake in shares of QuantumScape during the first quarter worth $43,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QS. Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday, July 7th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $5.88.

Insider Buying and Selling

In other news, Director Jeffrey B. Straubel sold 157,180 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $9.20, for a total value of $1,446,056.00. Following the sale, the director directly owned 348,146 shares in the company, valued at $3,202,943.20. The trade was a 31.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 6,362 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $9.63, for a total value of $61,266.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,469,940 shares of company stock valued at $25,417,775. Corporate insiders own 5.48% of the company's stock.

QuantumScape Stock Up 19.0%

NYSE:QS opened at $14.67 on Thursday. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $15.03. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of -17.05 and a beta of 4.85. The stock has a 50-day moving average price of $9.70 and a two-hundred day moving average price of $6.79.

QuantumScape (NYSE:QS - Get Free Report) last posted 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 business had revenue of $36.67 million during the quarter. During the same period last year, the firm posted ($0.25) earnings per share. As a group, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

QuantumScape 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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