Raymond James Financial Inc. Takes $1.53 Million Position in QuantumScape Co. (NYSE:QS)

Raymond James Financial Inc. bought a new stake in QuantumScape Co. (NYSE:QS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 294,163 shares of the company's stock, valued at approximately $1,527,000. Raymond James Financial Inc. owned approximately 0.06% of QuantumScape as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in QuantumScape in the fourth quarter worth approximately $26,000. Blue Trust Inc. increased its position in shares of QuantumScape by 208.8% during the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock worth $39,000 after purchasing an additional 4,556 shares during the last quarter. Atlas Legacy Advisors LLC purchased a new stake in QuantumScape in the 4th quarter valued at about $53,000. Empowered Funds LLC acquired a new position in QuantumScape in the fourth quarter valued at about $53,000. Finally, Essex Financial Services Inc. purchased a new position in QuantumScape during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Trading Down 3.1 %

QS stock traded down $0.13 on Monday, hitting $3.87. 9,244,790 shares of the company were exchanged, compared to its average volume of 10,781,353. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.11 and a beta of 4.38. The business's fifty day moving average is $4.15 and its two-hundred day moving average is $4.85. QuantumScape Co. has a twelve month low of $3.40 and a twelve month high of $9.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period in the previous year, the business earned ($0.24) EPS. As a group, research analysts forecast that QuantumScape Co. will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on QS. Truist Financial dropped their target price on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. The Goldman Sachs Group cut their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and decreased their price target for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a research report on Tuesday, February 25th. Finally, Robert W. Baird lowered 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. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, QuantumScape currently has an average rating of "Hold" and a consensus target price of $5.19.

Insider Activity

In related news, CFO Kevin Hettrich sold 53,975 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the completion of the transaction, the chief financial officer now owns 930,800 shares of the company's stock, valued at approximately $4,868,084. This represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael O. Mccarthy III sold 76,315 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the sale, the insider now directly owns 1,010,523 shares in the company, valued at $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,198 shares of company stock worth $748,796. 12.03% of the stock is currently owned by corporate insiders.

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.