Virtu Financial LLC Acquires Shares of 40,845 QuantumScape Co. (NYSE:QS)

Virtu Financial LLC bought a new position in QuantumScape Co. (NYSE:QS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 40,845 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also recently modified their holdings of QS. Barclays PLC grew its holdings in shares of QuantumScape by 326.5% during the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after buying an additional 79,871 shares during the last quarter. Geode Capital Management LLC lifted its position in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares in the last quarter. M&T Bank Corp boosted its stake in QuantumScape by 139.2% during the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after purchasing an additional 26,820 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in QuantumScape during the 3rd quarter valued at $150,000. Finally, XTX Topco Ltd bought a new stake in shares of QuantumScape in the 3rd quarter worth $464,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on QS. Wolfe Research initiated coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research note on Tuesday, November 19th. Truist Financial restated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Up 6.8 %

QuantumScape stock opened at $5.31 on Wednesday. The business has a 50-day simple moving average of $5.20 and a two-hundred day simple moving average of $5.66. QuantumScape Co. has a 52-week low of $4.65 and a 52-week high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.72 billion, a P/E ratio of -5.59 and a beta of 4.50.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the company posted ($0.23) EPS. Analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the transaction, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the sale, the director now directly owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 666,032 shares of company stock worth $3,549,682 in the last three months. Corporate insiders own 12.03% of the company’s stock.

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.