Invesco Ltd. Sells 58,952 Shares of QuantumScape Corporation $QS

Key Points

• Invesco Ltd. reduced its stake in QuantumScape by 3.8%, resulting in ownership of approximately 1,491,060 shares valued at $6.2 million.
• Several hedge funds increased their positions in QuantumScape, with Townsquare Capital LLC boosting its stake by 150.9% during the first quarter.
• The company reported a quarterly loss of ($0.20) EPS, meeting analysts' expectations, while projecting a consensus EPS of -0.82 for the current year.

Invesco Ltd. lowered its position in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 3.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,491,060 shares of the company's stock after selling 58,952 shares during the period. Invesco Ltd. owned approximately 0.27% of QuantumScape worth $6,203,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp grew its position in shares of QuantumScape by 97.2% during the first quarter. M&T Bank Corp now owns 39,964 shares of the company's stock worth $166,000 after buying an additional 19,694 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in QuantumScape by 362.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after purchasing an additional 297,097 shares during the period. Raymond James Financial Inc. acquired a new position in QuantumScape in the fourth quarter worth $1,527,000. Private Advisory Group LLC boosted its holdings in QuantumScape by 17.1% in the first quarter. Private Advisory Group LLC now owns 447,478 shares of the company's stock worth $1,862,000 after purchasing an additional 65,237 shares during the period. Finally, Centiva Capital LP lifted its stake in QuantumScape by 479.0% in the fourth quarter. Centiva Capital LP now owns 558,715 shares of the company's stock valued at $2,900,000 after buying an additional 462,218 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Stock Down 2.4%

NYSE:QS traded down $0.20 on Friday, hitting $7.91. 12,249,252 shares of the company's stock traded hands, compared to its average volume of 22,638,306. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $15.03. The firm has a 50-day moving average price of $8.89 and a 200-day moving average price of $5.87. The company has a market cap of $4.47 billion, a PE ratio of -9.19 and a beta of 4.43.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on QS. Robert W. Baird lifted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $5.90.

Insider Buying and Selling

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

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.