AXQ Capital LP Acquires 351,451 Shares of QuantumScape Corporation $QS

Key Points

• AXQ Capital sharply increased its QuantumScape stake by purchasing 351,451 shares in the second quarter, bringing its holdings to 463,653 shares valued at approximately $3.5 million. Institutional investors collectively own 29.87% of the company.
• QuantumScape insiders sold 211,444 shares worth about $1.47 million over the past 90 days, while analysts maintain a cautious outlook. TD Cowen cut its price target to $6 and rated the stock “Hold”; the consensus rating is “Reduce” with a $9.47 target.
• QuantumScape shares opened at $5.45, near the lower end of their 12-month range of $4.77 to $19.07. The development-stage battery company reported a quarterly loss of $0.16 per share, beating estimates by $0.02.

AXQ Capital LP increased its stake in QuantumScape Corporation (NYSE:QS - Free Report) by 313.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 463,653 shares of the company's stock after purchasing an additional 351,451 shares during the quarter. AXQ Capital LP owned about 0.07% of QuantumScape worth $3,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nykredit A S bought a new position in QuantumScape in the 2nd quarter worth about $112,000. Public Employees Retirement System of Ohio purchased a new stake in QuantumScape during the second quarter valued at about $1,079,000. Bank of New York Mellon Corp purchased a new stake in QuantumScape during the second quarter valued at about $9,619,000. Taylor & Morgan Wealth Management LLC bought a new position in shares of QuantumScape during the 2nd quarter valued at about $88,000. Finally, Handelsbanken Fonder AB raised its stake in shares of QuantumScape by 145.5% during the second quarter. Handelsbanken Fonder AB now owns 308,800 shares of the company's stock worth $2,335,000 after acquiring an additional 183,000 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Timothy Holme sold 12,723 shares of QuantumScape stock in a transaction on Friday, August 21st. The shares were sold at an average price of $6.01, for a total value of $76,465.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin Hettrich sold 9,800 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $7.28, for a total transaction of $71,344.00. Following the transaction, the chief financial officer directly owned 1,816,257 shares in the company, valued at approximately $13,222,350.96. The trade was a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 211,444 shares of company stock valued at $1,465,971 in the last ninety days. 3.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, TD Cowen reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, July 24th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $9.47.

QuantumScape Stock Performance

Shares of QS opened at $5.45 on Friday. The stock has a market capitalization of $3.37 billion, a P/E ratio of -6.73 and a beta of 2.68. QuantumScape Corporation has a twelve month low of $4.77 and a twelve month high of $19.07. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $6.05 and a two-hundred day simple moving average of $6.85.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. The firm's revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company's core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape's product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.

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