Private Advisory Group LLC Has $2.41 Million Stock Position in QuantumScape Co. (NYSE:QS)

Private Advisory Group LLC trimmed its stake in shares of QuantumScape Co. (NYSE:QS) by 26.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 418,567 shares of the company’s stock after selling 152,137 shares during the quarter. Private Advisory Group LLC owned 0.08% of QuantumScape worth $2,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC raised its stake in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after acquiring an additional 2,556 shares during the last quarter. Mather Group LLC. bought a new position in shares of QuantumScape in the second quarter valued at approximately $36,000. Alaska Wealth Advisors bought a new position in shares of QuantumScape in the second quarter valued at approximately $49,000. Centaurus Financial Inc. bought a new position in shares of QuantumScape in the second quarter valued at approximately $52,000. Finally, Financial Advocates Investment Management bought a new position in shares of QuantumScape in the second quarter valued at approximately $58,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on QS. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial restated a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.14.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $5.41 on Friday. The firm has a fifty day moving average of $5.74 and a two-hundred day moving average of $5.85. QuantumScape Co. has a 52 week low of $4.67 and a 52 week high of $10.03. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its earnings results 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 in the prior year, the company posted ($0.26) EPS. As a group, equities research analysts forecast that QuantumScape Co. will post -0.9 earnings per share for the current year.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 222,476 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total value of $1,463,892.08. Following the completion of the transaction, the insider now owns 1,283,847 shares of the company’s stock, valued at $8,447,713.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the completion of the transaction, the insider now owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,091,460 shares of company stock valued at $6,469,482 in the last quarter. Company insiders own 12.03% of the company’s stock.

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.