QuantumScape Co. (NYSE:QS) Holdings Lowered by Carnegie Investment Counsel

Carnegie Investment Counsel decreased its holdings in shares of QuantumScape Co. (NYSE:QS - Free Report) by 26.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,800 shares of the company's stock after selling 115,300 shares during the quarter. Carnegie Investment Counsel owned about 0.06% of QuantumScape worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in QuantumScape by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company's stock worth $207,306,000 after acquiring an additional 796,723 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in QuantumScape during the 4th quarter worth $97,000. Principal Financial Group Inc. increased its stake in QuantumScape by 40.2% during the 1st quarter. Principal Financial Group Inc. now owns 28,278 shares of the company's stock worth $178,000 after buying an additional 8,106 shares during the period. Commonwealth Equity Services LLC lifted its holdings in QuantumScape by 1.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 358,597 shares of the company's stock worth $2,256,000 after buying an additional 6,006 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new position in QuantumScape in the 1st quarter valued at about $66,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Stock Performance

Shares of QS traded down $0.09 during mid-day trading on Tuesday, hitting $5.49. The stock had a trading volume of 3,586,785 shares, compared to its average volume of 8,333,005. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.74 billion, a PE ratio of -5.72 and a beta of 4.58. QuantumScape Co. has a fifty-two week low of $4.67 and a fifty-two week high of $10.03. The company's fifty day simple moving average is $5.71 and its two-hundred day simple moving average is $5.83.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the previous year, the company posted ($0.26) EPS. On average, equities analysts expect that QuantumScape Co. will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on QS shares. Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They issued an "underperform" rating on the stock. Truist Financial reiterated a "hold" rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $6.14.

Insider Buying and Selling

In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the completion of the transaction, the insider now directly owns 1,283,847 shares in the company, valued at $8,447,713.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the sale, the insider now directly owns 1,283,847 shares of the company's stock, valued at $8,447,713.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Hettrich sold 58,000 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the transaction, the chief financial officer now directly owns 1,073,022 shares of the company's stock, valued at approximately $6,202,067.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,126,067 shares of company stock worth $6,659,475 over the last quarter. 10.18% of the stock is owned by company insiders.

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.