Teacher Retirement System of Texas purchased a new position in shares of QuantumScape Corporation (NYSE:QS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 56,838 shares of the company's stock, valued at approximately $236,000.
Other institutional investors have also modified their holdings of the company. Summit Trail Advisors LLC acquired a new stake in shares of QuantumScape during the 1st quarter worth about $76,000. Mirae Asset Global Investments Co. Ltd. grew its position in QuantumScape by 39.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,266 shares of the company's stock valued at $503,000 after acquiring an additional 32,625 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in QuantumScape in the 1st quarter valued at about $131,000. Cambridge Investment Research Advisors Inc. grew its position in QuantumScape by 362.7% in 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 acquired a new position in QuantumScape in the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 29.87% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on QS. 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 upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, QuantumScape has a consensus rating of "Hold" and a consensus target price of $5.19.
Get Our Latest Stock Analysis on QuantumScape
Insider Transactions at QuantumScape
In other QuantumScape news, CTO Timothy Holme sold 358,330 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total transaction of $2,519,059.90. Following the sale, the chief technology officer owned 1,705,428 shares of the company's stock, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction dated 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 owned 1,641,711 shares in the company, valued at $13,478,447.31. This represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,589,468 shares of company stock worth $18,114,411. Corporate insiders own 12.03% of the company's stock.
QuantumScape Stock Up 7.6%
Shares of QS opened at $14.63 on Friday. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of -16.08 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 16.66. The business's fifty day moving average price is $5.82 and its two-hundred day moving average price is $5.03. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $15.03.
QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period last year, the company posted ($0.24) earnings per share. On average, analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.
About QuantumScape
(
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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