Ethic Inc. Purchases New Holdings in QuantumScape Co. (NYSE:QS)

Ethic Inc. purchased a new stake in shares of QuantumScape Co. (NYSE:QS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,928 shares of the company’s stock, valued at approximately $140,000.

Several other large investors have also recently bought and sold shares of QS. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape in the fourth quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in shares of QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after buying an additional 4,556 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new stake in shares of QuantumScape in the fourth quarter valued at approximately $53,000. Empowered Funds LLC acquired a new stake in shares of QuantumScape in the fourth quarter valued at approximately $53,000. Finally, Essex Financial Services Inc. acquired a new stake in shares of QuantumScape in the fourth quarter valued at approximately $54,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial cut their price objective on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Robert W. Baird dropped their price target on QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. 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 report on Thursday, April 10th. Finally, The Goldman Sachs Group dropped 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.19.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 53,975 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the sale, the chief financial officer now owns 930,800 shares of the company’s stock, valued at approximately $4,868,084. This trade represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 76,315 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the completion of the sale, the insider now directly owns 1,010,523 shares in the company, valued at approximately $5,285,035.29. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,198 shares of company stock worth $748,796 in the last 90 days. Company insiders own 12.03% of the company’s stock.

QuantumScape Stock Performance

NYSE:QS opened at $4.73 on Monday. The stock has a 50 day simple moving average of $4.08 and a 200 day simple moving average of $4.75. QuantumScape Co. has a 1-year low of $3.40 and a 1-year high of $9.52. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.64 billion, a P/E ratio of -5.03 and a beta of 4.38.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same period in the previous year, the company posted ($0.24) earnings per share. Research analysts anticipate that QuantumScape Co. will post -0.82 earnings per share for the current 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.