PFG Investments LLC Cuts Stake in QuantumScape Corporation (NYSE:QS)

PFG Investments LLC reduced its stake in shares of QuantumScape Corporation (NYSE:QS) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,966 shares of the company’s stock after selling 3,530 shares during the period. PFG Investments LLC’s holdings in QuantumScape were worth $141,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of QS. Norges Bank purchased a new position in QuantumScape in the fourth quarter valued at approximately $17,762,000. Dimensional Fund Advisors LP lifted its stake in QuantumScape by 55.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock valued at $30,183,000 after buying an additional 2,066,844 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of QuantumScape by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock valued at $168,367,000 after purchasing an additional 956,072 shares in the last quarter. Centiva Capital LP raised its stake in shares of QuantumScape by 479.0% during the fourth quarter. Centiva Capital LP now owns 558,715 shares of the company’s stock valued at $2,900,000 after purchasing an additional 462,218 shares in the last quarter. Finally, American Century Companies Inc. raised its position in QuantumScape by 1,091.5% in the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock worth $2,244,000 after acquiring an additional 396,160 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on QS shares. UBS Group cut QuantumScape from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group cut their price target on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus target price of $5.19.

QuantumScape Trading Up 35.0%

NYSE:QS opened at $7.65 on Friday. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -8.41 and a beta of 4.27. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $4.22 and its two-hundred day moving average price is $4.62. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $9.52.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same quarter last year, the business earned ($0.24) earnings per share. On average, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, insider Mohit Singh sold 71,428 shares of QuantumScape stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $4.41, for a total transaction of $314,997.48. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fritz Prinz sold 61,523 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total value of $242,400.62. Following the completion of the sale, the director now owns 231,530 shares of the company’s stock, 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 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.