Flagship Harbor Advisors LLC Buys 11,525 Shares of QuantumScape Corporation $QS

Flagship Harbor Advisors LLC grew its holdings in QuantumScape Corporation (NYSE:QS) by 93.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 23,861 shares of the company’s stock after buying an additional 11,525 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in QuantumScape were worth $160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wealthfront Advisers LLC lifted its holdings in QuantumScape by 12.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company’s stock worth $147,000 after buying an additional 2,495 shares during the period. Birchcreek Wealth Management LLC lifted its holdings in QuantumScape by 11.5% in the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock worth $105,000 after buying an additional 2,600 shares during the period. HighTower Advisors LLC lifted its holdings in QuantumScape by 13.7% in the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock worth $98,000 after buying an additional 2,838 shares during the period. Teacher Retirement System of Texas lifted its holdings in QuantumScape by 7.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 61,065 shares of the company’s stock worth $410,000 after buying an additional 4,227 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in QuantumScape by 9.7% in the 1st quarter. Victory Capital Management Inc. now owns 48,399 shares of the company’s stock worth $201,000 after buying an additional 4,293 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Insider Activity at QuantumScape

In related news, Director Fritz Prinz sold 980,878 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.49, for a total transaction of $15,193,800.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey B. Straubel sold 157,180 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $9.20, for a total value of $1,446,056.00. Following the transaction, the director directly owned 348,146 shares of the company’s stock, valued at approximately $3,202,943.20. This trade represents a 31.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,844,134 shares of company stock worth $41,397,924 over the last quarter. 5.48% of the stock is currently owned by company insiders.

QuantumScape Trading Up 16.5%

QS opened at $18.40 on Monday. The stock has a market cap of $11.06 billion, a PE ratio of -22.72 and a beta of 4.83. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $12.64 and a 200-day moving average of $8.66. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $19.07.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of ($36.67) million during the quarter. During the same period in the previous year, the firm posted ($0.23) EPS. Equities research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Robert W. Baird increased their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of QuantumScape in a research note on Thursday. Finally, TD Cowen raised their target price on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday. Eight investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, QuantumScape presently has a consensus rating of “Reduce” and a consensus target price of $7.66.

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.