QuantumScape Co. (NYSE:QS) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lowered its stake in shares of QuantumScape Co. (NYSE:QS) by 54.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,393 shares of the company’s stock after selling 7,530 shares during the quarter. Wealthfront Advisers LLC’s holdings in QuantumScape were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of QuantumScape during the fourth quarter worth approximately $1,527,000. Y Intercept Hong Kong Ltd purchased a new position in shares of QuantumScape during the fourth quarter worth approximately $1,275,000. Geode Capital Management LLC grew its position in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of QuantumScape during the third quarter worth approximately $828,000. Finally, SG Americas Securities LLC grew its position in QuantumScape by 127.0% in the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock valued at $1,062,000 after buying an additional 114,504 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

Insider Transactions at QuantumScape

In other news, insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the transaction, the insider now owns 1,010,523 shares of the company’s stock, valued at $5,285,035.29. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.22, for a total transaction of $67,379.76. Following the completion of the transaction, the director now directly owns 228,287 shares of the company’s stock, valued at $1,191,658.14. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 277,452 shares of company stock valued at $1,542,942 in the last 90 days. 12.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on QS. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research report on Tuesday, November 19th. Truist Financial lowered their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.06.

QuantumScape Price Performance

QuantumScape stock opened at $4.38 on Wednesday. QuantumScape Co. has a one year low of $4.05 and a one year high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The business has a fifty day moving average of $4.96 and a two-hundred day moving average of $5.24. The company has a market cap of $2.39 billion, a P/E ratio of -4.65 and a beta of 4.45.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, analysts predict that QuantumScape Co. will post -0.82 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.