Clarity Capital Partners LLC Cuts Stock Holdings in QuantumScape Co. (NYSE:QS)

Clarity Capital Partners LLC trimmed its position in QuantumScape Co. (NYSE:QSFree Report) by 28.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 38,287 shares of the company’s stock after selling 15,528 shares during the period. Clarity Capital Partners LLC’s holdings in QuantumScape were worth $241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in QuantumScape in the third quarter valued at approximately $184,000. Scotia Capital Inc. purchased a new stake in shares of QuantumScape during the 3rd quarter valued at approximately $95,000. Citigroup Inc. grew its stake in QuantumScape by 97.7% in the 3rd quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after buying an additional 51,934 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after acquiring an additional 5,483,319 shares in the last quarter. Finally, DNB Asset Management AS purchased a new position in shares of QuantumScape in the fourth quarter valued at $208,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Performance

NYSE:QS traded up $0.12 during mid-day trading on Wednesday, hitting $5.42. The company’s stock had a trading volume of 5,143,888 shares, compared to its average volume of 7,814,857. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -5.64 and a beta of 4.62. QuantumScape Co. has a 1 year low of $4.67 and a 1 year high of $13.86. The business’s fifty day moving average is $5.44 and its two-hundred day moving average is $6.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.38 and a quick ratio of 10.38.

QuantumScape (NYSE:QSGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). Analysts anticipate that QuantumScape Co. will post -0.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. 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 price objective on 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, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.67.

View Our Latest Stock Analysis on QuantumScape

Insider Activity at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 192,280 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $5.85, for a total transaction of $1,124,838.00. Following the completion of the transaction, the director now owns 2,809,253 shares in the company, valued at approximately $16,434,130.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other QuantumScape news, Director Fritz Prinz sold 25,816 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the completion of the transaction, the director now owns 267,011 shares in the company, valued at approximately $1,300,343.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 192,280 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $5.85, for a total value of $1,124,838.00. Following the completion of the sale, the director now directly owns 2,809,253 shares of the company’s stock, valued at $16,434,130.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 674,338 shares of company stock worth $3,650,206. 10.18% of the stock is currently owned by company insiders.

About QuantumScape

(Free Report)

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.

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Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

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