31,344 Shares in QuantumScape Corporation $QS Acquired by Adams Wealth Management

Key Points

• Adams Wealth Management has acquired 31,344 shares of QuantumScape Corporation, valued at about $130,000, as part of its new position in the company.
• QuantumScape's stock has seen varying institutional interest, with Vanguard Group increasing its holdings by 9% and other funds also adjusting their stakes.
• Equities analysts have mixed ratings on QuantumScape, with three analysts rating it a sell and seven giving it a hold, alongside a consensus target price of $5.90.

Adams Wealth Management purchased a new stake in shares of QuantumScape Corporation (NYSE:QS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 31,344 shares of the company's stock, valued at approximately $130,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Birchcreek Wealth Management LLC boosted its position in shares of QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock valued at $105,000 after acquiring an additional 2,600 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of QuantumScape by 13.7% during the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock valued at $98,000 after acquiring an additional 2,838 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of QuantumScape by 19.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company's stock valued at $94,000 after acquiring an additional 2,997 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of QuantumScape by 2.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 158,579 shares of the company's stock valued at $823,000 after acquiring an additional 3,180 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its position in shares of QuantumScape by 22.6% during the 1st quarter. Wealthfront Advisers LLC now owns 19,349 shares of the company's stock valued at $80,000 after acquiring an additional 3,571 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Stock Down 2.8%

NYSE QS traded down $0.25 during trading on Monday, hitting $8.78. The company's stock had a trading volume of 16,774,470 shares, compared to its average volume of 49,473,104. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $15.03. The company has a market cap of $4.97 billion, a PE ratio of -10.21 and a beta of 4.43. The business's 50 day simple moving average is $8.24 and its 200-day simple moving average is $5.68.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird lifted their target price on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. The Goldman Sachs Group cut their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. Finally, TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has an average rating of "Hold" and a consensus price target of $5.90.

Insider Buying and Selling

In other QuantumScape news, insider Mohit Singh sold 465,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total value of $3,817,650.00. Following the completion of the sale, the insider directly owned 1,641,711 shares of the company's stock, valued at $13,478,447.31. This trade represents a 22.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fritz Prinz sold 929,813 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.62, for a total value of $10,804,427.06. Following the transaction, the director owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. This represents a 85.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,018,040 shares of company stock valued at $35,219,414 over the last 90 days. Insiders own 5.48% 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.