Invesco Ltd. Has $6.20 Million Stock Holdings in 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. decreased its position in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,491,060 shares of the company's stock after selling 58,952 shares during the period. Invesco Ltd. owned 0.27% of QuantumScape worth $6,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. M&T Bank Corp increased its position in 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 purchasing an additional 19,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of 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 acquiring an additional 297,097 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of QuantumScape in the fourth quarter worth $1,527,000. Private Advisory Group LLC increased its position in shares of 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 acquiring an additional 65,237 shares in the last quarter. Finally, Centiva Capital LP increased its position in shares of QuantumScape by 479.0% in the fourth quarter. Centiva Capital LP now owns 558,715 shares of the company's stock worth $2,900,000 after acquiring an additional 462,218 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Robert W. Baird raised their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $5.90.

Insider Buying and Selling at QuantumScape

In other news, CTO Timothy Holme sold 11,906 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $7.02, for a total value of $83,580.12. Following the completion of the sale, the chief technology officer directly owned 1,661,928 shares in the company, valued at approximately $11,666,734.56. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 929,813 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the transaction, the director owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,956,517 shares of company stock valued at $34,977,013 over the last three months. 5.48% of the stock is owned by insiders.

QuantumScape Stock Down 3.7%

Shares of QS stock traded down $0.31 during trading on Wednesday, hitting $8.03. 10,715,195 shares of the company were exchanged, compared to its average volume of 26,612,266. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of -9.33 and a beta of 4.43. The business's 50-day simple moving average is $8.75 and its 200 day simple moving average is $5.82. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $15.03.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same period in the previous year, the business earned ($0.25) EPS. As a group, analysts forecast that QuantumScape Corporation will post -0.82 EPS 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.