Westwood Holdings Group Inc. Invests $82,000 in QuantumScape Co. (NYSE:QS)

Westwood Holdings Group Inc. acquired a new position in QuantumScape Co. (NYSE:QS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,054 shares of the company’s stock, valued at approximately $82,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spire Wealth Management increased its stake in shares of QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of QuantumScape by 595.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after purchasing an additional 5,296 shares in the last quarter. StepStone Group LP purchased a new stake in shares of QuantumScape in the fourth quarter worth $56,000. Tower Research Capital LLC TRC increased its stake in shares of QuantumScape by 57.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after purchasing an additional 2,954 shares in the last quarter. Finally, Evergreen Wealth Solutions LLC purchased a new stake in shares of QuantumScape in the first quarter worth $64,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on QS shares. Truist Financial dropped their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. UBS Group dropped their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.45.

QuantumScape Price Performance

QS stock traded down $0.04 during trading on Friday, hitting $6.05. 9,357,858 shares of the company’s stock traded hands, compared to its average volume of 19,753,670. QuantumScape Co. has a 52 week low of $4.67 and a 52 week high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 8.66. The business has a fifty day simple moving average of $6.05 and a 200 day simple moving average of $6.12. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -6.30 and a beta of 4.62.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter last year, the company posted ($0.26) EPS. As a group, research analysts expect that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, insider Michael O. Mccarthy III sold 22,554 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the sale, the insider now owns 1,207,500 shares in the company, valued at approximately $6,906,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael O. Mccarthy III sold 22,554 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the sale, the insider now owns 1,207,500 shares in the company, valued at approximately $6,906,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fritz Prinz sold 25,816 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.87, for a total transaction of $125,723.92. Following the completion of the sale, the director now owns 267,011 shares of the company’s stock, valued at approximately $1,300,343.57. The disclosure for this sale can be found here. Insiders sold 1,070,038 shares of company stock worth $6,333,595 over the last 90 days. 10.18% of the stock is owned by insiders.

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.