Birchcreek Wealth Management LLC Buys 7,853 Shares of QuantumScape Co. (NYSE:QS)

Birchcreek Wealth Management LLC raised its holdings in QuantumScape Co. (NYSE:QS) by 65.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,883 shares of the company’s stock after buying an additional 7,853 shares during the period. Birchcreek Wealth Management LLC’s holdings in QuantumScape were worth $114,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC grew its position in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares during the last quarter. International Assets Investment Management LLC grew its position in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the last quarter. CWM LLC grew its position in QuantumScape by 56.0% in the 2nd 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 during the 2nd quarter worth $36,000. Finally, Alaska Wealth Advisors bought a new position in shares of QuantumScape during the 2nd quarter worth $49,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Down 1.2 %

QuantumScape stock traded down $0.06 during midday trading on Friday, reaching $4.79. The company’s stock had a trading volume of 794,402 shares, compared to its average volume of 8,812,930. The stock’s 50-day simple moving average is $5.50 and its 200-day simple moving average is $5.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. QuantumScape Co. has a 52-week low of $4.67 and a 52-week high of $10.03. The stock has a market capitalization of $2.45 billion, a P/E ratio of -5.11 and a beta of 4.60.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.97 EPS for the current year.

Insider Activity

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30. Following the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $15,517,592.17. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 58,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 708,455 shares of company stock valued at $4,121,274. Company insiders own 12.03% of the company’s stock.

Analysts Set New Price Targets

QS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Truist Financial reissued a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Wolfe Research initiated coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, QuantumScape has an average rating of “Hold” and a consensus price target of $6.14.

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.