Norden Group LLC Buys 52,555 Shares of QuantumScape Corporation (NYSE:QS)

Key Points

• Norden Group LLC has increased its holdings in QuantumScape Corporation by 190.8%, owning 80,099 shares worth approximately $333,000.
• The company reported a quarterly earnings per share (EPS) of ($0.20), meeting analysts' expectations, with a total revenue of $36.67 million.
• Insiders have sold a total of 4.09 million shares valued at about $35.53 million in the last 90 days, indicating potential shifts in confidence among company executives.

Norden Group LLC increased its holdings in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 190.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,099 shares of the company's stock after buying an additional 52,555 shares during the quarter. Norden Group LLC's holdings in QuantumScape were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in QS. Raymond James Financial Inc. acquired a new stake in QuantumScape during the fourth quarter worth about $1,527,000. American Century Companies Inc. raised its holdings in shares of QuantumScape by 1,091.5% during the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock valued at $2,244,000 after buying an additional 396,160 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of QuantumScape during the 4th quarter valued at about $403,000. Vanguard Group Inc. raised its holdings in shares of QuantumScape by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock valued at $168,367,000 after buying an additional 956,072 shares during the period. Finally, Norges Bank purchased a new stake in shares of QuantumScape during the 4th quarter valued at about $17,762,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other QuantumScape news, CTO Timothy Holme sold 11,906 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $7.02, for a total value of $83,580.12. Following the transaction, the chief technology officer directly owned 1,661,928 shares of the company's stock, valued at $11,666,734.56. This represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fritz Prinz sold 70,187 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $815,572.94. Following the completion of the transaction, the director directly owned 161,343 shares in the company, valued at approximately $1,874,805.66. This represents a 30.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,089,468 shares of company stock valued at $35,534,411. Company insiders own 12.03% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird increased their target price on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and cut their price target for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, The Goldman Sachs Group cut their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat, QuantumScape presently has a consensus rating of "Hold" and a consensus price target of $5.90.

QuantumScape Trading Down 4.0%

Shares of QS traded down $0.34 during trading hours on Friday, reaching $8.26. The stock had a trading volume of 31,110,088 shares, compared to its average volume of 69,372,896. The company has a quick ratio of 16.66, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $15.03. The firm has a 50-day moving average of $7.18 and a 200 day moving average of $5.39. The company has a market cap of $4.62 billion, a P/E ratio of -9.60 and a beta of 4.43.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million during the quarter. During the same period in the previous year, the firm posted ($0.25) earnings per share. On average, sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share 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.