Oak Harbor Wealth Partners LLC grew its position in shares of QuantumScape Co. (NYSE:QS - Free Report) by 274.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,189 shares of the company's stock after buying an additional 99,100 shares during the period. Oak Harbor Wealth Partners LLC's holdings in QuantumScape were worth $702,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QS. Heck Capital Advisors LLC bought a new position in QuantumScape in the 4th quarter worth about $26,000. International Assets Investment Management LLC increased its position in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company's stock worth $29,000 after purchasing an additional 4,228 shares during the last quarter. Blue Trust Inc. raised 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 purchasing an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in QuantumScape during the fourth quarter valued at approximately $53,000. Finally, Empowered Funds LLC purchased a new position in QuantumScape in the 4th quarter worth approximately $53,000. Institutional investors own 29.87% of the company's stock.
Insider Activity at QuantumScape
In related news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the transaction, the director now owns 228,287 shares of the company's stock, valued at approximately $1,191,658.14. This represents a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 277,452 shares of company stock worth $1,542,942 in the last 90 days. Corporate insiders own 12.03% of the company's stock.
Wall Street Analyst Weigh In
QS has been the subject of several research analyst reports. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. Truist Financial cut their target price on QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a research note on Tuesday, November 19th. Finally, HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, QuantumScape has a consensus rating of "Hold" and an average price target of $6.06.
View Our Latest Stock Analysis on QS
QuantumScape Price Performance
Shares of NYSE:QS traded up $0.08 during mid-day trading on Wednesday, reaching $4.32. The stock had a trading volume of 9,001,439 shares, compared to its average volume of 15,046,933. The company has a market cap of $2.36 billion, a P/E ratio of -4.59 and a beta of 4.45. 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 business's 50 day moving average price is $5.12 and its 200 day moving average price is $5.30. QuantumScape Co. has a 1 year low of $4.05 and a 1 year high of $9.52.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Research analysts expect that QuantumScape Co. will post -0.82 EPS for the current fiscal year.
QuantumScape Company Profile
(
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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