C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Holdings in QuantumScape Co. (NYSE:QS)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in QuantumScape Co. (NYSE:QS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,025 shares of the company’s stock, valued at approximately $57,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after purchasing an additional 3,310 shares during the last quarter. International Assets Investment Management LLC grew 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 purchasing an additional 4,228 shares during the last quarter. KBC Group NV lifted its position in QuantumScape by 9.4% during the 3rd quarter. KBC Group NV now owns 52,622 shares of the company’s stock valued at $303,000 after purchasing an additional 4,512 shares during the period. Finally, Blue Trust Inc. raised its position in shares of QuantumScape by 208.8% during the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after acquiring an additional 4,556 shares during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 36,949 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $5.06, for a total transaction of $186,961.94. Following the transaction, the chief financial officer now owns 1,024,325 shares in the company, valued at $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 615,216 shares of company stock valued at $3,327,157. 12.03% of the stock is owned by company insiders.

QuantumScape Stock Performance

QuantumScape stock opened at $5.18 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. QuantumScape Co. has a fifty-two week low of $4.65 and a fifty-two week high of $9.52. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -5.51 and a beta of 4.45. The stock’s 50 day simple moving average is $5.29 and its two-hundred day simple moving average is $5.40.

QuantumScape (NYSE:QS) last issued its 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, analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Evercore ISI dropped their price target on QuantumScape from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research report on Tuesday, November 19th. Finally, Truist Financial decreased their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.