Cambridge Investment Research Advisors Inc. Purchases 297,097 Shares of QuantumScape Corporation (NYSE:QS)

Cambridge Investment Research Advisors Inc. boosted its position in QuantumScape Corporation (NYSE:QS - Free Report) by 362.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,018 shares of the company's stock after purchasing an additional 297,097 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.07% of QuantumScape worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in QuantumScape in the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG purchased a new stake in shares of QuantumScape during the 4th quarter valued at $29,000. Gotham Asset Management LLC purchased a new stake in shares of QuantumScape during the 4th quarter valued at $66,000. SVB Wealth LLC purchased a new stake in shares of QuantumScape during the 4th quarter valued at $67,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of QuantumScape during the 1st quarter valued at $55,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on QS shares. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. The Goldman Sachs Group lowered their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Finally, Robert W. Baird lowered their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.19.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 61,523 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total value of $242,400.62. Following the sale, the director owned 231,530 shares of the company's stock, valued at $912,228.20. This trade represents a 20.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 325,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.21, for a total transaction of $2,343,250.00. Following the completion of the sale, the insider directly owned 1,641,711 shares in the company, valued at approximately $11,836,736.31. This trade represents a 16.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 747,951 shares of company stock worth $4,629,048. 12.03% of the stock is owned by corporate insiders.

QuantumScape Trading Up 2.7%

NYSE:QS traded up $0.19 during trading hours on Friday, reaching $6.99. The company's stock had a trading volume of 19,903,407 shares, compared to its average volume of 14,192,349. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -7.68 and a beta of 4.42. The firm has a 50-day simple moving average of $4.56 and a 200-day simple moving average of $4.69. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period in the prior year, the firm posted ($0.24) EPS. Research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

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.