Weiss Asset Management LP Purchases New Position in QuantumScape Co. (NYSE:QS)

Weiss Asset Management LP purchased a new stake in QuantumScape Co. (NYSE:QS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 144,086 shares of the company's stock, valued at approximately $828,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in QS. Signaturefd LLC grew its position in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company's stock worth $28,000 after buying an additional 2,148 shares in the last quarter. International Assets Investment Management LLC grew its position in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company's stock worth $29,000 after buying an additional 4,228 shares in the last quarter. CWM LLC grew its position in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company's stock worth $35,000 after buying an additional 2,556 shares in the last quarter. Alaska Wealth Advisors acquired a new stake in QuantumScape during the second quarter worth about $49,000. Finally, Centaurus Financial Inc. acquired a new stake in QuantumScape during the second quarter worth about $52,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QS shares. Hsbc Global Res raised QuantumScape to a "hold" rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. Truist Financial reissued a "hold" rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Wolfe Research started coverage on QuantumScape in a report on Thursday, September 5th. They issued an "underperform" rating on the stock. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.26.

QuantumScape Stock Performance

NYSE:QS traded up $0.24 during mid-day trading on Monday, hitting $5.24. The stock had a trading volume of 27,600,668 shares, compared to its average volume of 9,104,661. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $10.03. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -5.75 and a beta of 4.50. The company's 50 day simple moving average is $5.27 and its 200 day simple moving average is $5.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

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

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 106,084 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $5.90, for a total transaction of $625,895.60. Following the sale, the insider now owns 1,181,884 shares of the company's stock, valued at approximately $6,973,115.60. The trade was a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 702,057 shares of company stock valued at $3,982,909. 12.03% of the stock is currently owned by company insiders.

QuantumScape 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.