245,641 Shares in QuantumScape Co. (NYSE:QS) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in QuantumScape Co. (NYSE:QS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 245,641 shares of the company’s stock, valued at approximately $1,275,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Birchcreek Wealth Management LLC increased its holdings in QuantumScape by 13.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company’s stock worth $117,000 after purchasing an additional 2,700 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in QuantumScape by 2.0% in the fourth quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after purchasing an additional 2,300 shares in the last quarter. Ieq Capital LLC increased its holdings in QuantumScape by 2.6% in the fourth quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after purchasing an additional 2,200 shares in the last quarter. Private Advisor Group LLC increased its holdings in QuantumScape by 47.3% in the fourth quarter. Private Advisor Group LLC now owns 61,356 shares of the company’s stock worth $318,000 after purchasing an additional 19,704 shares in the last quarter. Finally, Atlas Legacy Advisors LLC bought a new stake in QuantumScape in the fourth quarter worth approximately $53,000. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Trading Down 1.9 %

NYSE QS opened at $4.90 on Thursday. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -5.21 and a beta of 4.45. QuantumScape Co. has a 52 week low of $4.65 and a 52 week high of $9.52. The business has a 50 day moving average price of $5.28 and a 200-day moving average price of $5.39. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). As a group, equities analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the completion of the sale, the director now owns 228,287 shares in the company, valued at approximately $1,191,658.14. This represents a 5.35 % 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, CFO Kevin Hettrich sold 29,667 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $5.10, for a total value of $151,301.70. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,224,057.50. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 615,216 shares of company stock worth $3,327,157. 12.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

QS has been the subject of a number of research analyst reports. Truist Financial lowered their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, February 14th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a report on Tuesday. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. One equities research 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 has an average rating of “Hold” and an average price target of $6.06.

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.