Birchcreek Wealth Management LLC Has $114,000 Position in QuantumScape Co. (NYSE:QS)

Birchcreek Wealth Management LLC boosted its position in shares of QuantumScape Co. (NYSE:QS) by 65.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,883 shares of the company’s stock after purchasing an additional 7,853 shares during the period. Birchcreek Wealth Management LLC’s holdings in QuantumScape were worth $114,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in 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. International Assets Investment Management LLC grew its stake in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares in the last quarter. CWM LLC grew its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new position in QuantumScape in the 2nd quarter valued at approximately $36,000. Finally, Alaska Wealth Advisors bought a new position in QuantumScape during the 2nd quarter worth approximately $49,000. 29.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and a consensus price target of $6.14.

Insider Transactions at QuantumScape

In other news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the transaction, the director now directly owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 708,455 shares of company stock valued at $4,121,274. Insiders own 12.03% of the company’s stock.

QuantumScape Price Performance

QS traded down $0.06 during midday trading on Friday, hitting $4.79. The stock had a trading volume of 794,402 shares, compared to its average volume of 8,812,930. The company has a market cap of $2.45 billion, a P/E ratio of -5.11 and a beta of 4.60. The business has a fifty day moving average of $5.50 and a 200 day moving average of $5.76. 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 1 year low of $4.67 and a 1 year high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the company posted ($0.23) earnings per share. As a group, equities analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

About QuantumScape

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.