Teacher Retirement System of Texas purchased a new position in shares of QuantumScape Corporation (NYSE:QS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 56,838 shares of the company's stock, valued at approximately $236,000.
A number of other institutional investors and hedge funds have also modified their holdings of QS. Summit Trail Advisors LLC acquired a new position in shares of QuantumScape in the first quarter valued at approximately $76,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of QuantumScape by 39.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,266 shares of the company's stock worth $503,000 after purchasing an additional 32,625 shares in the last quarter. Palumbo Wealth Management LLC bought a new position in shares of QuantumScape in the 1st quarter worth $131,000. Cambridge Investment Research Advisors Inc. lifted its stake in QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock valued at $1,577,000 after acquiring an additional 297,097 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of QuantumScape during the 1st quarter worth $55,000. 29.87% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
QS has been the subject of several recent research reports. The Goldman Sachs Group lowered their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday, July 7th. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and reduced their target price for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, Robert W. Baird reduced their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $5.19.
Check Out Our Latest Stock Analysis on QS
Insider Buying and Selling
In other news, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the sale, the insider directly owned 1,641,711 shares in the company, valued at $13,478,447.31. This represents a 22.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Fritz Prinz sold 864,708 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total value of $6,070,250.16. Following the completion of the transaction, the director directly owned 81,364 shares in the company, valued at $571,175.28. This trade represents a 91.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,589,468 shares of company stock worth $18,114,411 in the last ninety days. Insiders own 12.03% of the company's stock.
QuantumScape Stock Performance
Shares of QS stock traded down $0.97 during mid-day trading on Wednesday, hitting $12.83. 75,533,123 shares of the stock were exchanged, compared to its average volume of 17,043,682. The stock's fifty day simple moving average is $6.35 and its two-hundred day simple moving average is $5.18. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of -14.10 and a beta of 4.42. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $15.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). During the same period in the previous year, the business posted ($0.25) earnings per share. On average, analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current year.
QuantumScape Company Profile
(
Free Report)
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.
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