Quantbot Technologies LP lifted its holdings in shares of QuantumScape Co. (NYSE:QS - Get Rating) by 98.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,293 shares of the company's stock after buying an additional 36,277 shares during the period. Quantbot Technologies LP's holdings in QuantumScape were worth $616,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in QS. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of QuantumScape during the second quarter worth about $30,000. Emfo LLC purchased a new position in QuantumScape during the third quarter worth about $32,000. Allworth Financial LP raised its holdings in QuantumScape by 485.1% during the third quarter. Allworth Financial LP now owns 6,805 shares of the company's stock worth $57,000 after purchasing an additional 5,642 shares in the last quarter. Credit Agricole S A purchased a new position in QuantumScape during the second quarter worth about $65,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in QuantumScape during the third quarter worth about $74,000. Institutional investors and hedge funds own 26.09% of the company's stock.
Insider Buying and Selling at QuantumScape
In other QuantumScape news, insider Mohit Singh sold 8,500 shares of QuantumScape stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $7.63, for a total value of $64,855.00. Following the transaction, the insider now owns 302,157 shares in the company, valued at approximately $2,305,457.91. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 57,843 shares of company stock worth $438,821 in the last quarter. 13.73% of the stock is owned by insiders.
QuantumScape Trading Up 6.0 %
Shares of QS opened at $8.51 on Wednesday. The company's fifty day moving average is $6.82 and its two-hundred day moving average is $8.73. QuantumScape Co. has a fifty-two week low of $5.11 and a fifty-two week high of $22.21. The company has a current ratio of 25.68, a quick ratio of 25.68 and a debt-to-equity ratio of 0.03.
Analyst Ratings Changes
QS has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of QuantumScape from $4.00 to $3.00 and set an "underweight" rating for the company in a research note on Wednesday, January 25th. The Goldman Sachs Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $8.00 to $5.00 in a research report on Wednesday, December 14th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $13.00.
QuantumScape Corporation, a 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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