GMT Capital Corp Acquires New Position in QuantumScape Corporation $QS

Key Points

• GMT Capital Corp has acquired 482,200 shares of QuantumScape Corporation, valued at approximately $2,006,000, representing a 0.09% ownership in the company.
• QuantumScape's stock price recently opened at $7.91, with a 52-week range between $3.40 and $15.03, reflecting significant volatility.
• Analyst ratings for QuantumScape include seven "Hold" ratings and three "Sell" ratings, with a consensus price target set at $5.90.

GMT Capital Corp bought a new position in QuantumScape Corporation (NYSE:QS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 482,200 shares of the company's stock, valued at approximately $2,006,000. GMT Capital Corp owned approximately 0.09% of QuantumScape at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after acquiring an additional 2,911,362 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in QuantumScape by 55.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after purchasing an additional 2,066,844 shares during the last quarter. Nuveen LLC bought a new stake in QuantumScape in the 1st quarter valued at $2,819,000. Jump Financial LLC bought a new stake in QuantumScape in the 1st quarter valued at $2,134,000. Finally, Quantbot Technologies LP increased its holdings in QuantumScape by 252.6% in the 1st quarter. Quantbot Technologies LP now owns 700,898 shares of the company's stock valued at $2,916,000 after buying an additional 502,143 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Mohit Singh sold 465,000 shares of the 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 approximately $13,478,447.31. This represents a 22.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 500,000 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the completion of the transaction, the insider owned 1,467,183 shares of the company's stock, valued at $17,019,322.80. This trade represents a 25.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,956,517 shares of company stock valued at $34,977,013. 5.48% of the stock is owned by corporate insiders.

QuantumScape Stock Down 2.4%

NYSE QS traded down $0.20 on Friday, reaching $7.91. The company had a trading volume of 12,249,252 shares, compared to its average volume of 21,693,500. The stock has a market capitalization of $4.47 billion, a P/E ratio of -9.19 and a beta of 4.42. The company's fifty day moving average is $8.89 and its 200 day moving average is $5.87. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $15.03. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QS shares. Robert W. Baird upped 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. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Seven investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, QuantumScape currently has an average rating of "Reduce" and a consensus target price of $5.90.

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.