IFG Advisory LLC Buys Shares of 17,950 QuantumScape Corporation $QS

IFG Advisory LLC bought a new stake in QuantumScape Corporation (NYSE:QS) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 17,950 shares of the company’s stock, valued at approximately $121,000.

Several other large investors have also recently bought and sold shares of QS. M&T Bank Corp raised its position in shares of QuantumScape by 97.2% during the first quarter. M&T Bank Corp now owns 39,964 shares of the company’s stock worth $166,000 after acquiring an additional 19,694 shares during the last quarter. Perbak Capital Partners LLP bought a new position in shares of QuantumScape during the first quarter worth about $353,000. Nuveen LLC bought a new position in shares of QuantumScape during the first quarter worth about $2,819,000. CacheTech Inc. bought a new stake in QuantumScape in the first quarter worth approximately $130,000. Finally, Private Advisory Group LLC increased its holdings in QuantumScape by 17.1% in the first quarter. Private Advisory Group LLC now owns 447,478 shares of the company’s stock worth $1,862,000 after purchasing an additional 65,237 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Brad W. Buss sold 400,000 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.75, for a total transaction of $6,300,000.00. Following the completion of the sale, the director owned 122,476 shares in the company, valued at approximately $1,928,997. This represents a 76.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Timothy Holme sold 176,352 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $7.55, for a total value of $1,331,457.60. Following the sale, the chief technology officer owned 1,445,304 shares of the company’s stock, valued at $10,912,045.20. This trade represents a 10.87% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,844,134 shares of company stock valued at $41,397,924. 5.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on QS. Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Robert W. Baird lifted their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, TD Cowen lifted their target price on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Eight investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $7.66.

QuantumScape Stock Performance

QS opened at $15.44 on Wednesday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $12.95 and its two-hundred day moving average price is $8.83. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The company has a market cap of $9.28 billion, a price-to-earnings ratio of -19.06 and a beta of 4.83.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of ($36.67) million for the quarter. During the same quarter last year, the firm posted ($0.23) EPS. On average, analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal 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.