Unique Wealth Strategies LLC Buys New Stake in QuantumScape Co. (NYSE:QS)

Unique Wealth Strategies LLC purchased a new position in QuantumScape Co. (NYSE:QS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 88,100 shares of the company’s stock, valued at approximately $612,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D grew its position in QuantumScape by 25.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 436,738 shares of the company’s stock valued at $3,035,000 after buying an additional 87,313 shares during the period. Atria Wealth Solutions Inc. raised its stake in QuantumScape by 23.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 48,594 shares of the company’s stock worth $338,000 after purchasing an additional 9,290 shares during the period. Trustees of Princeton University purchased a new position in QuantumScape during the fourth quarter worth about $337,000. New York State Common Retirement Fund raised its stake in QuantumScape by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock worth $1,638,000 after purchasing an additional 1,481 shares during the period. Finally, Duality Advisers LP raised its stake in QuantumScape by 133.7% during the fourth quarter. Duality Advisers LP now owns 371,340 shares of the company’s stock worth $2,581,000 after purchasing an additional 212,468 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Trading Up 5.7 %

QS traded up $0.29 during trading on Friday, hitting $5.39. The company’s stock had a trading volume of 8,905,483 shares, compared to its average volume of 6,526,149. The firm’s 50 day moving average price is $5.93 and its 200-day moving average price is $6.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. The stock has a market cap of $2.67 billion, a PE ratio of -5.61 and a beta of 4.76. QuantumScape Co. has a twelve month low of $4.92 and a twelve month high of $13.86.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the previous year, the firm earned ($0.25) EPS. On average, analysts expect that QuantumScape Co. will post -0.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QS shares. UBS Group reduced their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday. Robert W. Baird boosted their price target on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, Truist Financial lowered their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.30.

Insider Buying and Selling

In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the sale, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total transaction of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at $3,626,776.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now owns 292,644 shares of the company’s stock, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,970 shares of company stock worth $1,250,775 over the last quarter. 10.18% of the stock is owned by company insiders.

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.