Armor Investment Advisors LLC Buys 24,194 Shares of QuantumScape Co. (NYSE:QS)

Armor Investment Advisors LLC lifted its stake in shares of QuantumScape Co. (NYSE:QS) by 27.6% in the 3rd quarter, Holdings Channel reports. The fund owned 111,884 shares of the company’s stock after acquiring an additional 24,194 shares during the quarter. Armor Investment Advisors LLC’s holdings in QuantumScape were worth $643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after purchasing an additional 133,000 shares during the period. Canada Pension Plan Investment Board acquired a new stake in QuantumScape in the 2nd quarter valued at approximately $1,950,000. Sanctuary Advisors LLC acquired a new position in QuantumScape during the 2nd quarter worth approximately $680,000. Swiss National Bank grew its stake in shares of QuantumScape by 9.3% during the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock worth $4,270,000 after acquiring an additional 58,000 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in QuantumScape in the second quarter valued at approximately $644,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QS has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research started coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.14.

Insider Buying and Selling at QuantumScape

In related news, CTO Timothy Holme sold 44,306 shares of QuantumScape stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total value of $270,709.66. Following the transaction, the chief technology officer now directly owns 1,168,496 shares of the company’s stock, valued at $7,139,510.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction of $189,992.43. Following the completion of the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the completion of the transaction, the chief technology officer now directly owns 1,168,496 shares in the company, valued at approximately $7,139,510.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 903,591 shares of company stock worth $5,195,582. Insiders own 12.03% of the company’s stock.

QuantumScape Price Performance

Shares of QS stock opened at $5.06 on Wednesday. The business has a fifty day simple moving average of $5.61 and a 200 day simple moving average of $5.79. QuantumScape Co. has a twelve month low of $4.67 and a twelve month high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.59 billion, a P/E ratio of -5.46 and a beta of 4.60.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the company earned ($0.23) EPS. On average, sell-side analysts forecast that QuantumScape Co. will post -0.97 EPS 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.