Westwood Holdings Group Inc. Buys New Shares in QuantumScape Co. (NYSE:QS)

Westwood Holdings Group Inc. bought a new stake in QuantumScape Co. (NYSE:QS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,054 shares of the company’s stock, valued at approximately $82,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates raised its holdings in shares of QuantumScape by 14.0% during the fourth quarter. Raymond James & Associates now owns 25,786 shares of the company’s stock valued at $179,000 after purchasing an additional 3,158 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of QuantumScape by 6.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 301,079 shares of the company’s stock worth $2,092,000 after acquiring an additional 17,470 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of QuantumScape by 34.5% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock worth $77,000 after acquiring an additional 2,861 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after acquiring an additional 5,296 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of QuantumScape in the 4th quarter worth about $232,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

Insider Activity

In other news, insider Mohit Singh sold 173,224 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the completion of the transaction, the insider now directly owns 1,196,905 shares of the company’s stock, valued at approximately $8,426,211.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Mccarthy Michael 222,476 shares of the stock in a transaction that occurred on Monday, July 29th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Singh sold 173,224 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the sale, the insider now owns 1,196,905 shares in the company, valued at $8,426,211.20. The disclosure for this sale can be found here. Insiders sold 1,070,038 shares of company stock valued at $6,333,595 in the last three months. Company insiders own 10.18% of the company’s stock.

QuantumScape Stock Down 0.7 %

QS stock traded down $0.04 during trading on Friday, reaching $6.05. The stock had a trading volume of 9,357,858 shares, compared to its average volume of 19,753,670. QuantumScape Co. has a one year low of $4.67 and a one year high of $10.03. The company’s 50 day moving average is $6.05 and its two-hundred day moving average is $6.12. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -6.30 and a beta of 4.62. The company has a quick ratio of 10.38, a current ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the company earned ($0.26) EPS. Equities research analysts forecast that QuantumScape Co. will post -0.9 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on QS. Truist Financial lowered their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. UBS Group lowered their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, QuantumScape presently has an average rating of “Hold” and an average price target of $6.45.

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.