Cetera Investment Advisers Grows Holdings in QuantumScape Corporation $QS

Cetera Investment Advisers raised its position in QuantumScape Corporation (NYSE:QS) by 28.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,169 shares of the company’s stock after purchasing an additional 14,225 shares during the period. Cetera Investment Advisers’ holdings in QuantumScape were worth $267,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. M&T Bank Corp lifted its holdings in shares of QuantumScape by 97.2% during the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company’s stock worth $166,000 after acquiring an additional 19,694 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock worth $1,577,000 after acquiring an additional 297,097 shares during the period. Raymond James Financial Inc. purchased a new position in shares of QuantumScape during the 4th quarter worth about $1,527,000. Centiva Capital LP lifted its holdings in shares of QuantumScape by 479.0% during the 4th quarter. Centiva Capital LP now owns 558,715 shares of the company’s stock worth $2,900,000 after acquiring an additional 462,218 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of QuantumScape by 39.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,266 shares of the company’s stock worth $503,000 after acquiring an additional 32,625 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QS has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. The Goldman Sachs Group dropped their target price on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a research report on Monday, April 28th. Finally, TD Cowen upgraded shares of QuantumScape to a “hold” rating in a report on Monday, July 7th. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.90.

Insider Buying and Selling

In related news, insider Michael O. Mccarthy III sold 500,000 shares of QuantumScape stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the sale, the insider directly owned 1,467,183 shares in the company, valued at $17,019,322.80. The trade was a 25.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fritz Prinz sold 929,813 shares of QuantumScape stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the sale, the director owned 161,343 shares in the company, valued at approximately $1,874,805.66. This represents a 85.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,956,517 shares of company stock valued at $34,977,013. 5.48% of the stock is owned by corporate insiders.

QuantumScape Stock Up 0.1%

QS stock opened at $7.9150 on Thursday. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $15.03. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $4.48 billion, a P/E ratio of -9.20 and a beta of 4.43. The firm has a 50 day simple moving average of $8.37 and a 200-day simple moving average of $5.71.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same quarter in the previous year, the business earned ($0.25) EPS. On average, equities research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

About QuantumScape

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.