Sanctuary Advisors LLC Invests $680,000 in QuantumScape Co. (NYSE:QS)

Sanctuary Advisors LLC bought a new stake in QuantumScape Co. (NYSE:QS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 126,202 shares of the company’s stock, valued at approximately $680,000.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in QuantumScape in the second quarter worth about $1,950,000. HighPoint Advisor Group LLC purchased a new stake in shares of QuantumScape in the 4th quarter worth approximately $97,000. Vanguard Group Inc. grew its stake in shares of QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after buying an additional 796,723 shares during the last quarter. Swiss National Bank increased its position in QuantumScape by 9.3% during the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after buying an additional 58,000 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in QuantumScape during the second quarter valued at $644,000. 29.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on QS shares. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Truist Financial restated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus price target of $6.14.

Insider Buying and Selling

In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now owns 254,103 shares in the company, valued at $1,514,453.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the transaction, the insider now directly owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the sale, the director now owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,126,067 shares of company stock valued at $6,659,475 over the last 90 days. Company insiders own 12.03% of the company’s stock.

QuantumScape Price Performance

QS opened at $5.62 on Monday. The company’s 50-day simple moving average is $5.73 and its two-hundred day simple moving average is $5.84. QuantumScape Co. has a 52-week low of $4.67 and a 52-week high of $10.03. The stock has a market capitalization of $2.84 billion, a P/E ratio of -5.92 and a beta of 4.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the prior year, the firm posted ($0.26) EPS. As a group, analysts predict that QuantumScape Co. will post -0.9 EPS for the current 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.