Townsquare Capital LLC Has $354,000 Stock Holdings in QuantumScape Corporation $QS

Key Points

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Townsquare Capital LLC boosted its holdings in shares of QuantumScape Corporation (NYSE:QS - Free Report) by 150.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,167 shares of the company's stock after buying an additional 51,218 shares during the period. Townsquare Capital LLC's holdings in QuantumScape were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after buying an additional 5,841 shares during the period. Heck Capital Advisors LLC acquired a new position in QuantumScape in the 4th quarter valued at approximately $26,000. Federated Hermes Inc. increased its stake in QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after buying an additional 5,438 shares during the period. Hollencrest Capital Management increased its stake in QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after buying an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in QuantumScape during the fourth quarter valued at $29,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QS has been the topic of several research reports. The Goldman Sachs Group dropped their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Robert W. Baird raised their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday, July 7th. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $5.90.

Insiders Place Their Bets

In other QuantumScape news, insider Mohit Singh sold 465,000 shares of QuantumScape 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 transaction, the insider directly owned 1,641,711 shares in the company, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Timothy Holme sold 358,330 shares of QuantumScape stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90. Following the transaction, the chief technology officer owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,018,040 shares of company stock valued at $35,219,414. Insiders own 5.48% of the company's stock.

QuantumScape Trading Up 0.1%

Shares of QuantumScape stock traded up $0.0050 during trading on Wednesday, reaching $7.9150. 13,589,801 shares of the company were exchanged, compared to its average volume of 24,463,861. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $15.03. The business has a 50-day moving average price of $8.31 and a 200-day moving average price of $5.69. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of -9.20 and a beta of 4.43.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same period in the previous year, the business posted ($0.25) earnings per share. Sell-side analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

About QuantumScape

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.