Private Advisory Group LLC Purchases 65,237 Shares of QuantumScape Corporation (NYSE:QS)

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Private Advisory Group LLC boosted its holdings in QuantumScape Corporation (NYSE:QS - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 447,478 shares of the company's stock after buying an additional 65,237 shares during the period. Private Advisory Group LLC owned approximately 0.08% of QuantumScape worth $1,862,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after acquiring an additional 5,438 shares during the period. Norden Group LLC lifted its position in shares of QuantumScape by 190.8% during the 1st quarter. Norden Group LLC now owns 80,099 shares of the company's stock worth $333,000 after buying an additional 52,555 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in QuantumScape by 14.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,591 shares of the company's stock valued at $314,000 after purchasing an additional 9,364 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of QuantumScape by 28.5% during the first quarter. Cetera Investment Advisers now owns 64,169 shares of the company's stock worth $267,000 after purchasing an additional 14,225 shares during the last quarter. Finally, Birchcreek Wealth Management LLC grew its stake in shares of QuantumScape by 11.5% during the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock worth $105,000 after purchasing an additional 2,600 shares during the period. 29.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on QS shares. TD Cowen upgraded QuantumScape to a "hold" rating in a report on Monday, July 7th. The Goldman Sachs Group reduced their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, Robert W. Baird lifted 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. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.90.

QuantumScape Stock Down 3.3%

QS traded down $0.29 on Friday, hitting $8.32. 7,515,625 shares of the company were exchanged, compared to its average volume of 24,087,201. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $15.03. The company has a market cap of $4.65 billion, a PE ratio of -9.63 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.40. The stock's fifty day moving average is $7.09 and its 200-day moving average is $5.37.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter in the previous year, the firm earned ($0.25) EPS. Equities research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 929,813 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $11.62, for a total value of $10,804,427.06. Following the sale, the director owned 161,343 shares in the company, valued at $1,874,805.66. This represents a 85.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Singh sold 465,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 1,641,711 shares in the company, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,089,468 shares of company stock worth $35,534,411 over the last ninety days. 12.03% of the stock is currently owned by corporate insiders.

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.