Two Sigma Investments LP Sells 137,744 Shares of QuantumScape Co. (NYSE:QS)

Two Sigma Investments LP lessened its position in shares of QuantumScape Co. (NYSE:QS - Free Report) by 81.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,083 shares of the company's stock after selling 137,744 shares during the period. Two Sigma Investments LP's holdings in QuantumScape were worth $167,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Raiffeisen Bank International AG acquired a new position in QuantumScape during the 4th quarter valued at about $29,000. Atlas Legacy Advisors LLC bought a new stake in shares of QuantumScape during the 4th quarter worth $53,000. Empowered Funds LLC purchased a new position in QuantumScape in the 4th quarter worth about $53,000. Essex Financial Services Inc. purchased a new position in shares of QuantumScape in the fourth quarter worth approximately $54,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of QuantumScape during the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 29.87% of the company's stock.

QuantumScape Stock Down 3.6%

QS stock traded down $0.16 during mid-day trading on Friday, hitting $4.33. The stock had a trading volume of 8,637,004 shares, compared to its average volume of 11,644,100. QuantumScape Co. has a 1-year low of $3.40 and a 1-year high of $9.52. The company has a fifty day moving average of $4.01 and a 200 day moving average of $4.64. 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 stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -4.61 and a beta of 4.27.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the previous year, the company earned ($0.24) EPS. On average, equities analysts expect that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on QS shares. The Goldman Sachs Group reduced their price target on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. Truist Financial reduced their target price on QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and dropped their price target for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, Evercore ISI reissued a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.19.

Insider Activity

In other 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 61,523 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the sale, the director now directly owns 231,530 shares of the company's stock, valued at approximately $912,228.20. This represents a 20.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.03% of the stock is owned by insiders.

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.