Orion Portfolio Solutions LLC Makes New $150,000 Investment in QuantumScape Co. (NYSE:QS)

Orion Portfolio Solutions LLC bought a new position in QuantumScape Co. (NYSE:QS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,038 shares of the company’s stock, valued at approximately $150,000.

A number of other large investors also recently modified their holdings of QS. Signaturefd LLC lifted its holdings in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the period. Centaurus Financial Inc. bought a new position in QuantumScape in the second quarter valued at about $52,000. Financial Advocates Investment Management acquired a new stake in QuantumScape in the second quarter worth about $58,000. Finally, Atom Investors LP acquired a new position in QuantumScape during the 3rd quarter valued at about $60,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Stock Up 6.1 %

Shares of QuantumScape stock opened at $5.02 on Friday. QuantumScape Co. has a 1 year low of $4.65 and a 1 year high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company has a market capitalization of $2.57 billion, a P/E ratio of -5.28 and a beta of 4.50. The business has a 50-day moving average of $5.17 and a two-hundred day moving average of $5.64.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the company earned ($0.23) EPS. As a group, equities analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.26.

Insider Activity at QuantumScape

In other news, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. This trade represents a 10.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred 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 owns 241,195 shares in the company, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 666,032 shares of company stock valued at $3,549,682. 12.03% of the stock is owned by corporate 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.