Foundations Investment Advisors LLC Buys Shares of 25,427 QuantumScape Corporation $QS

Foundations Investment Advisors LLC acquired a new stake in shares of QuantumScape Corporation (NYSE:QS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,427 shares of the company’s stock, valued at approximately $171,000.

Several other hedge funds also recently modified their holdings of QS. Bank of New York Mellon Corp boosted its holdings in QuantumScape by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 941,148 shares of the company’s stock valued at $3,915,000 after acquiring an additional 19,764 shares during the period. Victory Capital Management Inc. lifted its position in shares of QuantumScape by 9.7% during the 1st quarter. Victory Capital Management Inc. now owns 48,399 shares of the company’s stock worth $201,000 after buying an additional 4,293 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of QuantumScape in the 1st quarter valued at $74,000. Cetera Investment Advisers increased its position in shares of QuantumScape by 28.5% during the 1st quarter. Cetera Investment Advisers now owns 64,169 shares of the company’s stock worth $267,000 after purchasing an additional 14,225 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of QuantumScape by 14.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,591 shares of the company’s stock valued at $314,000 after acquiring an additional 9,364 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Stock Down 2.3%

QS opened at $11.45 on Friday. The stock’s fifty day simple moving average is $14.49 and its 200 day simple moving average is $9.69. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The stock has a market cap of $6.88 billion, a PE ratio of -14.14 and a beta of 4.83. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). During the same quarter last year, the company earned ($0.23) earnings per share. As a group, research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 980,878 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $15.49, for a total value of $15,193,800.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey B. Straubel sold 157,180 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $9.20, for a total value of $1,446,056.00. Following the sale, the director owned 348,146 shares of the company’s stock, valued at approximately $3,202,943.20. This represents a 31.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,268,448 shares of company stock worth $47,474,558 in the last 90 days. Corporate insiders own 5.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on QS. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Hsbc Global Res raised QuantumScape to a “moderate sell” rating in a research note on Wednesday. HSBC cut shares of QuantumScape from a “hold” rating to a “reduce” rating and lifted their price target for the stock from $5.30 to $10.50 in a research report on Wednesday. TD Cowen lifted their price objective on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Six research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $8.31.

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.