Inverness Counsel LLC NY Boosts Stake in QuantumScape Co. (NYSE:QS)

Inverness Counsel LLC NY lifted its holdings in QuantumScape Co. (NYSE:QS) by 108.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the company’s stock after buying an additional 23,386 shares during the period. Inverness Counsel LLC NY’s holdings in QuantumScape were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of QS. BlackRock Inc. purchased a new position in shares of QuantumScape in the first quarter worth about $113,554,000. Geode Capital Management LLC purchased a new position in shares of QuantumScape in the first quarter worth about $48,690,000. Islet Management LP purchased a new position in shares of QuantumScape in the first quarter worth about $35,655,000. Ghisallo Capital Management LLC purchased a new position in shares of QuantumScape in the first quarter worth about $33,563,000. Finally, Coatue Management LLC purchased a new position in QuantumScape during the first quarter worth about $32,206,000. 15.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of QuantumScape stock traded up $0.30 on Wednesday, reaching $21.16. The company had a trading volume of 47,651 shares, compared to its average volume of 13,343,278. The firm’s 50 day moving average price is $22.30 and its two-hundred day moving average price is $31.97. The firm has a market cap of $8.59 billion and a PE ratio of -53.49. QuantumScape Co. has a 52-week low of $11.25 and a 52-week high of $132.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 62.45 and a current ratio of 62.45.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Monday, July 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). As a group, sell-side analysts predict that QuantumScape Co. will post -0.21 EPS for the current year.

A number of equities analysts have commented on QS shares. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, June 17th. They set a “peer perform” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of QuantumScape in a research note on Tuesday, July 20th. They set a “neutral” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, QuantumScape currently has a consensus rating of “Hold” and an average target price of $44.14.

In related news, Director Justin E. Mirro sold 20,000 shares of QuantumScape stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $22.17, for a total value of $443,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 162,126 shares of QuantumScape stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $22.96, for a total transaction of $3,722,412.96. Following the completion of the transaction, the chief financial officer now owns 875,237 shares of the company’s stock, valued at approximately $20,095,441.52. The disclosure for this sale can be found here. Insiders sold a total of 1,108,014 shares of company stock worth $24,949,812 over the last three months.

QuantumScape Company Profile

QuantumScape Corporation, a development stage company, engages in 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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Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

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