Holocene Advisors LP Lowers Stock Holdings in QuantumScape Co. (NYSE:QS)

Holocene Advisors LP trimmed its position in QuantumScape Co. (NYSE:QS - Free Report) by 58.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,887 shares of the company's stock after selling 263,486 shares during the quarter. Holocene Advisors LP's holdings in QuantumScape were worth $1,092,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. 180 Wealth Advisors LLC lifted its stake in shares of QuantumScape by 2.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company's stock worth $392,000 after purchasing an additional 2,059 shares during the last quarter. Signaturefd LLC lifted its stake in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company's stock worth $28,000 after purchasing an additional 2,148 shares during the last quarter. CWM LLC lifted its stake in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company's stock worth $35,000 after purchasing an additional 2,556 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of QuantumScape by 32.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company's stock worth $78,000 after purchasing an additional 3,310 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of QuantumScape by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company's stock worth $413,000 after purchasing an additional 3,527 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QS has been the subject of a number of analyst reports. Truist Financial restated a "hold" rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They set an "underperform" rating on the stock. Hsbc Global Res raised QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. Finally, HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, QuantumScape currently has a consensus rating of "Hold" and a consensus target price of $6.26.

QuantumScape Stock Performance

Shares of QS stock traded up $0.01 during mid-day trading on Friday, reaching $5.00. The stock had a trading volume of 15,508,063 shares, compared to its average volume of 10,148,235. The business's fifty day moving average is $5.27 and its 200-day moving average is $5.70. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -5.26 and a beta of 4.50. QuantumScape Co. has a 1-year low of $4.65 and a 1-year high of $10.03.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) earnings per share. On average, research analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Activity

In related news, Director Jagdeep Singh sold 192,270 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the sale, the director now directly owns 2,590,583 shares of the company's stock, valued at $15,517,592.17. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 58,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total value of $335,240.00. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $6,202,067.16. This trade represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 702,057 shares of company stock valued at $3,982,909. Company insiders own 12.03% of the company's stock.

QuantumScape Company Profile

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.