SWP Financial LLC Invests $67,000 in QuantumScape Corporation $QS

SWP Financial LLC bought a new position in QuantumScape Corporation (NYSE:QS) during the second quarter, according to its most recent filing with the SEC. The firm bought 10,000 shares of the company’s stock, valued at approximately $67,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wedmont Private Capital acquired a new position in QuantumScape during the first quarter worth $103,000. Optas LLC acquired a new stake in shares of QuantumScape in the 1st quarter worth about $63,000. Sowell Financial Services LLC acquired a new stake in shares of QuantumScape in the 1st quarter worth about $58,000. Cornerstone Wealth Management LLC bought a new position in QuantumScape in the 1st quarter valued at about $55,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock valued at $1,577,000 after purchasing an additional 297,097 shares during the last quarter. Institutional investors own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on QS shares. Robert W. Baird boosted their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. TD Cowen upgraded shares of QuantumScape to a “hold” rating in a research note on Monday, July 7th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $5.88.

QuantumScape Stock Down 0.5%

QS opened at $12.32 on Wednesday. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $15.03. The company’s 50-day moving average price is $9.67 and its two-hundred day moving average price is $6.74. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of -14.32 and a beta of 4.42. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same period in the prior year, the firm posted ($0.25) EPS. As a group, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey B. Straubel sold 157,180 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the completion of the transaction, the director owned 348,146 shares in the company, valued at approximately $3,202,943.20. This represents a 31.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 38,035 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $9.13, for a total value of $347,259.55. Following the completion of the sale, the insider owned 1,397,382 shares in the company, valued at $12,758,097.66. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,791,051 shares of company stock valued at $34,696,538. Company insiders own 5.48% 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.