Atria Wealth Solutions Inc. Purchases 53,200 Shares of QuantumScape Corporation $QS

Atria Wealth Solutions Inc. raised its stake in QuantumScape Corporation (NYSE:QS - Free Report) by 131.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,581 shares of the company's stock after acquiring an additional 53,200 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in QuantumScape were worth $657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in QS. Sowell Financial Services LLC bought a new position in shares of QuantumScape in the first quarter worth about $58,000. Cornerstone Wealth Management LLC bought a new position in shares of QuantumScape in the first quarter worth about $55,000. Cambridge Investment Research Advisors Inc. lifted 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 worth $1,577,000 after acquiring an additional 297,097 shares during the last quarter. Palumbo Wealth Management LLC bought a new position in shares of QuantumScape in the first quarter worth about $131,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of QuantumScape by 39.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,266 shares of the company's stock worth $503,000 after acquiring an additional 32,625 shares during the last quarter. Institutional investors own 29.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on QS shares. Robert W. Baird increased their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of QuantumScape in a report on Wednesday, October 8th. Finally, TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday, July 7th. Six equities 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 an average rating of "Reduce" and an average price target of $5.88.

Insider Activity

In other QuantumScape news, Director Jeffrey B. Straubel sold 157,171 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total transaction of $2,190,963.74. Following the completion of the sale, the director owned 321,040 shares of the company's stock, valued at approximately $4,475,297.60. This represents a 32.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 38,035 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $9.13, for a total transaction of $347,259.55. Following the sale, the insider directly owned 1,397,382 shares of the company's stock, valued at $12,758,097.66. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,327,870 shares of company stock worth $26,819,135. 5.48% of the stock is owned by company insiders.

QuantumScape Stock Performance

NYSE:QS opened at $15.34 on Friday. The company has a market capitalization of $8.68 billion, a PE ratio of -17.83 and a beta of 4.85. The company has a 50 day simple moving average of $11.20 and a two-hundred day simple moving average of $7.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $19.07.

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

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.

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