Towerview LLC Grows Stock Position in QuantumScape Co. (NYSE:QS)

Towerview LLC increased its holdings in shares of QuantumScape Co. (NYSE:QS) by 11.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 100,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. QuantumScape comprises about 0.4% of Towerview LLC’s investment portfolio, making the stock its 18th biggest holding. Towerview LLC’s holdings in QuantumScape were worth $519,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of QuantumScape in the 4th quarter worth about $1,275,000. Birchcreek Wealth Management LLC raised its holdings in shares of QuantumScape by 13.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company’s stock worth $117,000 after purchasing an additional 2,700 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of QuantumScape by 2.0% in the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after purchasing an additional 2,300 shares during the period. Ieq Capital LLC raised its holdings in shares of QuantumScape by 2.6% in the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after purchasing an additional 2,200 shares during the period. Finally, Private Advisor Group LLC raised its holdings in shares of QuantumScape by 47.3% in the 4th quarter. Private Advisor Group LLC now owns 61,356 shares of the company’s stock worth $318,000 after purchasing an additional 19,704 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a report on Tuesday, November 19th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial cut their price objective on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Finally, Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a report on Tuesday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, QuantumScape currently has an average rating of “Hold” and an average target price of $6.06.

QuantumScape Price Performance

Shares of NYSE QS opened at $4.81 on Friday. QuantumScape Co. has a fifty-two week low of $4.65 and a fifty-two week high of $9.52. The business has a 50 day moving average price of $5.29 and a two-hundred day moving average price of $5.38. 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 firm has a market cap of $2.46 billion, a PE ratio of -5.11 and a beta of 4.45.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Sell-side analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the transaction, the director now owns 228,287 shares in the company, valued at approximately $1,191,658.14. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 615,216 shares of company stock worth $3,327,157 in the last 90 days. 12.03% of the stock is owned by corporate insiders.

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.