Axim Planning & Wealth Purchases New Position in QuantumScape Co. (NYSE:QS)

Axim Planning & Wealth acquired a new position in shares of QuantumScape Co. (NYSE:QS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,540 shares of the company’s stock, valued at approximately $89,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D boosted its position in QuantumScape by 1.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 330,596 shares of the company’s stock worth $1,901,000 after purchasing an additional 5,448 shares during the last quarter. Armor Investment Advisors LLC raised its stake in shares of QuantumScape by 27.6% during the 3rd quarter. Armor Investment Advisors LLC now owns 111,884 shares of the company’s stock worth $643,000 after purchasing an additional 24,194 shares during the period. Van ECK Associates Corp raised its stake in shares of QuantumScape by 5.8% during the 3rd quarter. Van ECK Associates Corp now owns 121,835 shares of the company’s stock worth $701,000 after purchasing an additional 6,692 shares during the period. Farther Finance Advisors LLC grew its position in QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock valued at $78,000 after buying an additional 3,310 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in QuantumScape by 137.2% during the third quarter. Pinnacle Associates Ltd. now owns 28,350 shares of the company’s stock valued at $163,000 after buying an additional 16,400 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QuantumScape

In related news, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction 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 $7,139,510.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the transaction, the chief technology officer now owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the company’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 transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 711,321 shares of company stock valued at $4,138,097 in the last three months. Company insiders own 12.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on QS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Wolfe Research initiated coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.14.

QuantumScape Stock Performance

Shares of QS stock opened at $4.87 on Thursday. QuantumScape Co. has a 1 year low of $4.67 and a 1 year high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company’s fifty day simple moving average is $5.52 and its two-hundred day simple moving average is $5.78.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the firm earned ($0.23) EPS. As a group, equities research analysts anticipate that QuantumScape Co. will post -0.97 earnings per share for the current year.

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.