Westwood Holdings Group Inc. Acquires New Holdings in QuantumScape Co. (NYSE:QS)

Westwood Holdings Group Inc. acquired a new stake in shares of QuantumScape Co. (NYSE:QS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,054 shares of the company’s stock, valued at approximately $82,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after acquiring an additional 5,483,319 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in QuantumScape by 240.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after acquiring an additional 3,004,964 shares in the last quarter. Norges Bank acquired a new stake in QuantumScape in the fourth quarter valued at approximately $18,482,000. Baillie Gifford & Co. boosted its stake in QuantumScape by 10.3% in the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after acquiring an additional 251,186 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in QuantumScape in the fourth quarter valued at approximately $1,560,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mohit Singh sold 173,224 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total value of $1,219,496.96. Following the completion of the sale, the insider now owns 1,196,905 shares of the company’s stock, valued at approximately $8,426,211.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other QuantumScape news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total transaction of $129,008.88. Following the sale, the insider now directly owns 1,207,500 shares in the company, valued at approximately $6,906,900. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mohit Singh sold 173,224 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the completion of the sale, the insider now owns 1,196,905 shares in the company, valued at $8,426,211.20. The disclosure for this sale can be found here. Insiders sold a total of 847,562 shares of company stock valued at $4,869,703 in the last 90 days. Company insiders own 10.18% of the company’s stock.

Analyst Upgrades and Downgrades

QS has been the subject of several research reports. Truist Financial lowered their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. UBS Group lowered their price objective on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.45.

QuantumScape Trading Up 2.3 %

Shares of NYSE QS opened at $7.04 on Friday. QuantumScape Co. has a 12-month low of $4.67 and a 12-month high of $13.86. The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $5.99 and a 200 day moving average of $6.16.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter last year, the firm earned ($0.26) EPS. On average, sell-side analysts expect that QuantumScape Co. will post -0.89 EPS 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.