D. E. Shaw & Co. Inc. cut its holdings in shares of QuantumScape Co. (NYSE:QS - Free Report) by 43.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,736,925 shares of the company's stock after selling 2,081,149 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.53% of QuantumScape worth $14,205,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape during the fourth quarter worth $26,000. Blue Trust Inc. lifted its stake in QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock valued at $39,000 after buying an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in shares of QuantumScape during the fourth quarter worth $53,000. Empowered Funds LLC acquired a new position in QuantumScape in the 4th quarter worth $53,000. Finally, Essex Financial Services Inc. bought a new stake in shares of QuantumScape in the fourth quarter valued at about $54,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.
QuantumScape Trading Down 14.5%
QS stock traded down $0.69 during trading on Monday, reaching $4.05. 10,177,550 shares of the stock were exchanged, compared to its average volume of 11,024,405. QuantumScape Co. has a 1 year low of $3.40 and a 1 year high of $9.52. The business has a 50 day moving average price of $4.08 and a 200-day moving average price of $4.75. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -4.32 and a beta of 4.38. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the prior year, the business earned ($0.24) EPS. On average, research analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current year.
Insider Activity at QuantumScape
In other QuantumScape news, insider Michael O. Mccarthy III sold 76,315 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares of the company's stock, valued at approximately $5,285,035.29. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.22, for a total transaction of $67,379.76. Following the completion of the sale, the director now directly owns 228,287 shares in the company, valued at approximately $1,191,658.14. This trade represents a 5.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,198 shares of company stock valued at $748,796. 12.03% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on QS shares. Robert W. Baird lowered their price target on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their price target for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Truist Financial cut their target price on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Finally, Evercore ISI reiterated a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, QuantumScape currently has an average rating of "Hold" and a consensus target price of $5.19.
Check Out Our Latest Stock Report on QuantumScape
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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