Rhumbline Advisers Cuts Position in QuantumScape Corporation (NYSE:QS)

Rhumbline Advisers lowered its position in shares of QuantumScape Corporation (NYSE:QSFree Report) by 1.5% during the first quarter, HoldingsChannel reports. The firm owned 311,789 shares of the company’s stock after selling 4,795 shares during the period. Rhumbline Advisers’ holdings in QuantumScape were worth $1,297,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QS. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape during the fourth quarter worth approximately $26,000. Raiffeisen Bank International AG acquired a new position in QuantumScape in the fourth quarter worth $29,000. Atlas Legacy Advisors LLC acquired a new position in QuantumScape in the fourth quarter worth $53,000. Empowered Funds LLC acquired a new position in QuantumScape in the fourth quarter worth $53,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in QuantumScape in the fourth quarter worth $57,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on QS. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Robert W. Baird dropped their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group cut their price objective on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a research report on Monday, April 28th. Finally, UBS Group downgraded shares of QuantumScape from a “neutral” rating to a “sell” rating and cut their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.19.

Read Our Latest Stock Analysis on QuantumScape

QuantumScape Trading Up 3.9%

Shares of NYSE:QS opened at $4.39 on Thursday. The company has a market cap of $2.46 billion, a PE ratio of -4.83 and a beta of 4.27. The company’s 50-day moving average price is $4.06 and its 200 day moving average price is $4.62. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QSGet Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the previous year, the company posted ($0.24) EPS. Sell-side analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In other QuantumScape news, insider Mohit Singh sold 71,428 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $4.41, for a total transaction of $314,997.48. Following the sale, the insider now directly owns 1,640,998 shares in the company, valued at approximately $7,236,801.18. The trade was a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fritz Prinz sold 61,523 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the sale, the director now owns 231,530 shares in the company, valued at $912,228.20. This trade represents a 20.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.03% of the stock is owned by insiders.

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.

Further Reading

Want to see what other hedge funds are holding QS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuantumScape Corporation (NYSE:QSFree Report).

Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

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