Carnegie Investment Counsel cut its stake in QuantumScape Co. (NYSE:QS – Free Report) by 39.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 428,100 shares of the company’s stock after selling 282,855 shares during the period. Carnegie Investment Counsel’s holdings in QuantumScape were worth $2,106,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of QuantumScape by 26.4% during the 4th quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock valued at $304,000 after purchasing an additional 9,135 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of QuantumScape in the 4th quarter worth approximately $97,000. Vanguard Group Inc. grew its stake in shares of QuantumScape by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after buying an additional 796,723 shares in the last quarter. Swiss National Bank boosted its stake in shares of QuantumScape by 9.3% in the first quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after purchasing an additional 58,000 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of QuantumScape by 40.2% during the first quarter. Principal Financial Group Inc. now owns 28,278 shares of the company’s stock worth $178,000 after acquiring an additional 8,106 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.
QuantumScape Price Performance
QuantumScape stock traded up $0.06 during trading hours on Tuesday, hitting $5.86. 3,719,068 shares of the company traded hands, compared to its average volume of 9,218,529. The firm’s 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $6.03. The firm has a market cap of $2.93 billion, a P/E ratio of -5.94 and a beta of 4.62. QuantumScape Co. has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a quick ratio of 10.38, a current ratio of 8.66 and a debt-to-equity ratio of 0.03.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. UBS Group cut their target price on 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 restated a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.62.
Check Out Our Latest Analysis on QuantumScape
Insider Activity at QuantumScape
In other news, Director Fritz Prinz sold 25,816 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.87, for a total value of $125,723.92. Following the sale, the director now owns 267,011 shares in the company, valued at $1,300,343.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Fritz Prinz sold 25,816 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.87, for a total value of $125,723.92. Following the completion of the transaction, the director now directly owns 267,011 shares of the company’s stock, valued at $1,300,343.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 192,280 shares of QuantumScape stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $5.85, for a total transaction of $1,124,838.00. Following the sale, the director now owns 2,809,253 shares in the company, valued at $16,434,130.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,193,906 shares of company stock valued at $7,004,864. 10.18% of the stock is 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.
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