Weiss Asset Management LP Buys New Stake in QuantumScape Co. (NYSE:QS)

Weiss Asset Management LP purchased a new position in shares of QuantumScape Co. (NYSE:QS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 144,086 shares of the company’s stock, valued at approximately $828,000.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the period. CWM LLC boosted its stake in shares of QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares in the last quarter. Alaska Wealth Advisors bought a new stake in shares of QuantumScape in the 2nd quarter worth about $49,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of QuantumScape during the 2nd quarter worth about $52,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on QS. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Trading Up 0.2 %

NYSE QS opened at $5.00 on Monday. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a 12 month low of $4.65 and a 12 month high of $10.03. The company has a market capitalization of $2.56 billion, a PE ratio of -5.26 and a beta of 4.50. The stock has a 50-day simple moving average of $5.27 and a 200 day simple moving average of $5.70.

QuantumScape (NYSE:QS) last announced its quarterly 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 quarter last year, the business posted ($0.23) EPS. Research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In related news, CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $5.78, for a total value of $335,240.00. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the sale, the director now owns 2,590,583 shares in the company, valued at $15,517,592.17. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 702,057 shares of company stock valued at $3,982,909 over the last three months. 12.03% of the stock is currently owned by corporate insiders.

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.