Centiva Capital LP Purchases Shares of 96,497 QuantumScape Co. (NYSE:QS)

Centiva Capital LP acquired a new position in QuantumScape Co. (NYSE:QS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 96,497 shares of the company’s stock, valued at approximately $555,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QS. Arthedge Capital Management LLC increased its holdings in shares of QuantumScape by 14.6% in the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company’s stock valued at $4,157,000 after buying an additional 92,000 shares in the last quarter. Atom Investors LP acquired a new stake in shares of QuantumScape during the third quarter worth $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of QuantumScape by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after purchasing an additional 94,103 shares during the last quarter. FMR LLC lifted its holdings in shares of QuantumScape by 74.9% during the third quarter. FMR LLC now owns 14,070 shares of the company’s stock valued at $81,000 after purchasing an additional 6,026 shares during the last quarter. Finally, Nwam LLC acquired a new position in shares of QuantumScape in the 3rd quarter valued at $64,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30. Following the completion of the sale, the director now owns 2,590,583 shares of the company’s stock, valued at $15,517,592.17. The trade was a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the transaction, the director now directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 702,057 shares of company stock valued at $3,982,909. Insiders own 12.03% of the company’s stock.

QuantumScape Stock Performance

Shares of QS stock opened at $5.00 on Friday. QuantumScape Co. has a fifty-two week low of $4.65 and a fifty-two week high of $10.03. The stock’s 50-day moving average is $5.27 and its two-hundred day moving average is $5.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm has a market cap of $2.56 billion, a P/E ratio of -5.26 and a beta of 4.50.

QuantumScape (NYSE:QS) last issued 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 earned ($0.23) EPS. Analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on QS shares. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research report on Tuesday, November 19th. Wolfe Research began coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.26.

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.