Edgestream Partners L.P. Buys 82,951 Shares of QuantumScape Co. (NYSE:QS)

Edgestream Partners L.P. lifted its stake in shares of QuantumScape Co. (NYSE:QS) by 38.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 298,643 shares of the company’s stock after acquiring an additional 82,951 shares during the period. Edgestream Partners L.P.’s holdings in QuantumScape were worth $1,878,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management lifted its holdings in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares during the last quarter. International Assets Investment Management LLC raised its position in QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after purchasing an additional 5,296 shares during the period. StepStone Group LP purchased a new position in QuantumScape in the 4th quarter worth $56,000. Tower Research Capital LLC TRC raised its position in QuantumScape by 57.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after purchasing an additional 2,954 shares during the period. Finally, SpiderRock Advisors LLC purchased a new position in QuantumScape in the 1st quarter worth $66,000. 29.87% of the stock is owned by institutional investors.

Insider Buying and Selling at QuantumScape

In other news, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total transaction of $129,008.88. Following the sale, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total transaction of $129,008.88. Following the sale, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the sale, the insider now directly owns 1,196,905 shares in the company, valued at approximately $8,426,211.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 847,562 shares of company stock worth $4,869,703. 10.18% of the stock is currently owned by company insiders.

QuantumScape Trading Down 2.0 %

Shares of QS stock traded down $0.16 during mid-day trading on Monday, reaching $7.96. The stock had a trading volume of 13,837,821 shares, compared to its average volume of 9,401,897. The stock’s 50-day moving average price is $5.84 and its two-hundred day moving average price is $6.19. QuantumScape Co. has a 52-week low of $4.67 and a 52-week high of $13.86. The firm has a market capitalization of $3.98 billion, a PE ratio of -8.04 and a beta of 4.62. The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Equities analysts expect that QuantumScape Co. will post -0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on QS shares. UBS Group decreased their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Truist Financial decreased their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.45.

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.