NewEdge Advisors LLC Has $73,000 Position in QuantumScape Co. (NYSE:QS)

NewEdge Advisors LLC lessened its position in QuantumScape Co. (NYSE:QS) by 37.4% during the 4th quarter, Holdings Channel reports. The firm owned 14,113 shares of the company’s stock after selling 8,433 shares during the quarter. NewEdge Advisors LLC’s holdings in QuantumScape were worth $73,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in QS. Barclays PLC boosted its position in QuantumScape by 326.5% in the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after buying an additional 79,871 shares in the last quarter. Virtu Financial LLC bought a new position in shares of QuantumScape in the third quarter valued at approximately $235,000. 180 Wealth Advisors LLC boosted its holdings in shares of QuantumScape by 13.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 112,168 shares of the company’s stock worth $582,000 after acquiring an additional 13,177 shares in the last quarter. Guardian Investment Management grew its position in QuantumScape by 158.6% during the 4th quarter. Guardian Investment Management now owns 12,490 shares of the company’s stock worth $65,000 after acquiring an additional 7,660 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in QuantumScape by 127.0% during the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after acquiring an additional 114,504 shares during the last quarter. Institutional investors own 29.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, April 28th. UBS Group cut shares of QuantumScape from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Truist Financial reduced their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Robert W. Baird lowered their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.19.

Insider Activity at QuantumScape

In other news, insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the transaction, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the transaction, the director now owns 228,287 shares of the company’s stock, valued at $1,191,658.14. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,198 shares of company stock worth $748,796 in the last ninety days. Company insiders own 12.03% of the company’s stock.

QuantumScape Price Performance

Shares of QS stock opened at $3.99 on Friday. The firm’s 50 day moving average price is $4.15 and its two-hundred day moving average price is $4.85. The stock has a market cap of $2.18 billion, a PE ratio of -4.24 and a beta of 4.37. QuantumScape Co. has a 52-week low of $3.40 and a 52-week high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last released 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 quarter last year, the company posted ($0.24) earnings per share. As a group, analysts forecast that QuantumScape Co. will post -0.82 EPS 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.