Moors & Cabot Inc. Purchases New Position in QuantumScape Co. (NYSE:QS)

Moors & Cabot Inc. bought a new stake in shares of QuantumScape Co. (NYSE:QS) in the third quarter, HoldingsChannel reports. The institutional investor bought 13,950 shares of the company’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in QS. Vanguard Group Inc. lifted its stake in QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after acquiring an additional 656,646 shares during the period. Janus Henderson Group PLC boosted its stake in shares of QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after purchasing an additional 25,347 shares in the last quarter. California State Teachers Retirement System increased its holdings in QuantumScape by 2.3% during the first quarter. California State Teachers Retirement System now owns 344,306 shares of the company’s stock valued at $2,166,000 after buying an additional 7,585 shares during the period. Tidal Investments LLC raised its stake in QuantumScape by 202.0% in the first quarter. Tidal Investments LLC now owns 137,755 shares of the company’s stock worth $866,000 after buying an additional 92,142 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in QuantumScape during the first quarter worth $1,002,000. Institutional investors own 29.87% of the company’s stock.

Analyst Ratings Changes

QS has been the subject of several recent research reports. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. HSBC raised 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. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $5.16 on Monday. The firm has a market capitalization of $2.64 billion, a P/E ratio of -5.43 and a beta of 4.60. QuantumScape Co. has a 52 week low of $4.65 and a 52 week high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $5.41 and a 200 day moving average price of $5.74.

QuantumScape (NYSE:QS) last posted 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 last year, the firm earned ($0.23) EPS. Sell-side analysts expect that QuantumScape Co. will post -0.97 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jurgen Leohold sold 17,435 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.00, for a total transaction of $104,610.00. Following the completion of the transaction, the director now directly owns 194,904 shares in the company, valued at $1,169,424. The trade was a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the sale, the director now directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 702,057 shares of company stock valued at $3,982,909. 12.03% of the stock is owned by company insiders.

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.