Oak Harbor Wealth Partners LLC Increases Stock Position in QuantumScape Co. (NYSE:QS)

Oak Harbor Wealth Partners LLC lifted its holdings in QuantumScape Co. (NYSE:QS) by 274.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 135,189 shares of the company’s stock after purchasing an additional 99,100 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in QuantumScape were worth $702,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in QuantumScape during the fourth quarter valued at approximately $1,527,000. Arizona State Retirement System raised its holdings in shares of QuantumScape by 2.3% in the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock worth $578,000 after buying an additional 2,483 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of QuantumScape by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock worth $12,103,000 after buying an additional 104,894 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of QuantumScape in the fourth quarter worth $386,000. Finally, Norden Group LLC purchased a new position in shares of QuantumScape in the fourth quarter worth $143,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Up 2.4 %

Shares of NYSE QS opened at $4.48 on Friday. The company’s 50-day simple moving average is $5.19 and its 200-day simple moving average is $5.34. QuantumScape Co. has a 52-week low of $4.05 and a 52-week high of $9.52. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -4.76 and a beta of 4.45. 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Equities analysts predict that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other news, insider Michael O. Mccarthy III sold 76,315 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the transaction, the director now directly owns 228,287 shares in the company, valued at $1,191,658.14. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 585,549 shares of company stock valued at $3,175,856. Corporate insiders own 12.03% of the company’s stock.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of research reports. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. Truist Financial dropped their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, HSBC upgraded 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. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.06.

QuantumScape Company 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.