QuantumScape Co. (NYSE:QS) Shares Sold by Clarity Capital Partners LLC

Clarity Capital Partners LLC lowered its position in shares of QuantumScape Co. (NYSE:QS) by 52.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the company’s stock after selling 11,600 shares during the period. Clarity Capital Partners LLC’s holdings in QuantumScape were worth $54,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Essex Financial Services Inc. acquired a new position in QuantumScape in the fourth quarter valued at approximately $54,000. Armor Investment Advisors LLC lifted its position in shares of QuantumScape by 4.8% during the 4th quarter. Armor Investment Advisors LLC now owns 117,201 shares of the company’s stock worth $608,000 after buying an additional 5,317 shares during the last quarter. Powell Investment Advisors LLC purchased a new stake in shares of QuantumScape during the 4th quarter worth approximately $119,000. Empowered Funds LLC acquired a new stake in QuantumScape during the 4th quarter worth $53,000. Finally, Heck Capital Advisors LLC purchased a new stake in QuantumScape in the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kevin Hettrich sold 55,647 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.05, for a total transaction of $281,017.35. Following the completion of the transaction, the chief financial officer now directly owns 1,022,743 shares of the company’s stock, valued at $5,164,852.15. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 567,878 shares of company stock worth $3,062,871. 12.03% of the stock is owned by insiders.

Analysts Set New Price Targets

QS has been the topic of a number of research analyst reports. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, QuantumScape has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Trading Up 1.7 %

Shares of QS stock opened at $4.84 on Thursday. QuantumScape Co. has a 52-week low of $4.65 and a 52-week high of $9.52. The stock’s 50-day moving average price is $5.26 and its 200 day moving average price is $5.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Analysts predict that QuantumScape Co. will post -0.99 earnings per share 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.