Raymond James Financial Inc. Acquires New Holdings in QuantumScape Co. (NYSE:QS)

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

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QS. 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 report on Thursday, April 24th. Evercore ISI reiterated a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. 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 report on Thursday, April 10th. Truist Financial lowered their target price on QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, The Goldman Sachs Group reduced 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. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $5.19.

QuantumScape Price Performance

Shares of QS traded up $0.05 on Thursday, hitting $3.92. The company's stock had a trading volume of 1,587,176 shares, compared to its average volume of 12,144,857. The company has a market capitalization of $2.19 billion, a PE ratio of -4.17 and a beta of 4.38. QuantumScape Co. has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The company has a 50 day moving average price of $4.09 and a 200 day moving average price of $4.82. 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 announced its earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the prior year, the company posted ($0.24) earnings per share. On average, research analysts anticipate that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael O. Mccarthy III sold 76,315 shares of the stock in a transaction that occurred 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 in the company, valued at $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the company's stock in a transaction 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 sale, the director now owns 228,287 shares of the company's stock, valued at $1,191,658.14. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,198 shares of company stock valued at $748,796. Insiders own 12.03% of the company's stock.

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.