Northern Trust Corp increased its stake in QuantumScape Co. (NYSE:QS - Free Report) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,724,845 shares of the company's stock after acquiring an additional 130,849 shares during the period. Northern Trust Corp owned approximately 0.34% of QuantumScape worth $8,952,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Nebula Research & Development LLC purchased a new stake in shares of QuantumScape in the 4th quarter valued at approximately $502,000. Price T Rowe Associates Inc. MD raised its stake in QuantumScape by 20.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 285,583 shares of the company's stock valued at $1,483,000 after purchasing an additional 48,701 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of QuantumScape in the fourth quarter valued at $74,000. Stifel Financial Corp boosted its position in QuantumScape by 13.4% during the fourth quarter. Stifel Financial Corp now owns 153,503 shares of the company's stock valued at $797,000 after purchasing an additional 18,186 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in QuantumScape by 55.2% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on QS. Truist Financial reduced their price objective on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, February 14th. The Goldman Sachs Group decreased their price target 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. Evercore ISI reissued a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their target price for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, Robert W. Baird reduced their price target 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 equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $5.19.
Read Our Latest Analysis on QS
QuantumScape Stock Performance
Shares of NYSE QS remained flat at $3.97 during trading hours on Friday. 9,173,930 shares of the company traded hands, compared to its average volume of 11,260,011. QuantumScape Co. has a twelve month low of $3.40 and a twelve month high of $9.52. The firm has a fifty day moving average of $4.04 and a two-hundred day moving average of $4.71. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.22 billion, a P/E ratio of -4.22 and a beta of 4.38.
QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period last year, the business earned ($0.24) earnings per share. As a group, sell-side analysts expect that QuantumScape Co. will post -0.82 EPS for the current fiscal year.
Insiders Place Their Bets
In other QuantumScape news, insider Mohit Singh sold 71,428 shares of QuantumScape stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $4.41, for a total transaction of $314,997.48. Following the transaction, the insider now owns 1,640,998 shares of the company's stock, valued at $7,236,801.18. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fritz Prinz sold 61,523 shares of the company'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 transaction, the director now directly owns 231,530 shares in the company, valued at $912,228.20. This represents a 20.99% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.03% of the company's stock.
About QuantumScape
(
Free Report)
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.
See Also
Before you consider QuantumScape, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and QuantumScape wasn't on the list.
While QuantumScape currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
