HighTower Advisors LLC Increases Stock Holdings in QuantumScape Corporation $QS

HighTower Advisors LLC increased its stake in QuantumScape Corporation (NYSE:QS) by 13.7% in the first quarter, Holdings Channel reports. The firm owned 23,611 shares of the company’s stock after purchasing an additional 2,838 shares during the period. HighTower Advisors LLC’s holdings in QuantumScape were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new stake in QuantumScape in the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG acquired a new stake in QuantumScape in the 4th quarter worth approximately $29,000. Signaturefd LLC boosted its stake in QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after purchasing an additional 5,841 shares in the last quarter. Federated Hermes Inc. boosted its stake in QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Hollencrest Capital Management boosted its stake in QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird boosted their price target on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. TD Cowen upgraded QuantumScape to a “hold” rating in a research note on Monday, July 7th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $5.90.

Insider Activity

In related news, CTO Timothy Holme sold 358,330 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the transaction, the chief technology officer owned 1,705,428 shares of the company’s stock, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 500,000 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $11.60, for a total value of $5,800,000.00. Following the completion of the transaction, the insider directly owned 1,467,183 shares of the company’s stock, valued at $17,019,322.80. The trade was a 25.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,956,517 shares of company stock valued at $34,977,013 in the last quarter. Company insiders own 5.48% of the company’s stock.

QuantumScape Price Performance

NYSE:QS opened at $7.85 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -9.13 and a beta of 4.42. The company has a 50 day moving average price of $9.10 and a 200-day moving average price of $5.95. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $15.03.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same period last year, the business posted ($0.25) earnings per share. Equities research analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current year.

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.