QuantumScape Corporation $QS Position Reduced by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC trimmed its position in QuantumScape Corporation (NYSE:QS) by 66.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 37,554 shares of the company’s stock after selling 73,974 shares during the period. HITE Hedge Asset Management LLC’s holdings in QuantumScape were worth $463,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Tsfg LLC raised its holdings in shares of QuantumScape by 233.3% during the third quarter. Tsfg LLC now owns 2,000 shares of the company’s stock valued at $25,000 after acquiring an additional 1,400 shares during the period. REAP Financial Group LLC lifted its position in shares of QuantumScape by 300.0% in the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock valued at $25,000 after acquiring an additional 1,500 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after purchasing an additional 3,311 shares during the period. Global Retirement Partners LLC grew its position in QuantumScape by 538.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,312 shares of the company’s stock worth $28,000 after purchasing an additional 1,950 shares in the last quarter. Finally, VSM Wealth Advisory LLC grew its position in QuantumScape by 46.8% during the 3rd quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock worth $29,000 after purchasing an additional 750 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QS. Evercore restated an “in-line” rating and issued a $12.00 target price (up from $8.00) on shares of QuantumScape in a report on Monday, November 24th. Morgan Stanley lowered their price target on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. TD Cowen reissued a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on QuantumScape in a research note on Thursday, February 12th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and decreased their price objective for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, QuantumScape presently has an average rating of “Reduce” and an average price target of $8.98.

QuantumScape Stock Down 1.4%

QS stock opened at $6.90 on Friday. The company has a 50 day moving average of $8.77 and a two-hundred day moving average of $11.28. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -8.52 and a beta of 2.51. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $19.07. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). During the same quarter last year, the firm posted ($0.22) EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 45,000 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $6.73, for a total value of $302,850.00. Following the transaction, the insider owned 954,219 shares in the company, valued at $6,421,893.87. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Timothy Holme sold 127,077 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.86, for a total value of $871,748.22. Following the completion of the transaction, the chief technology officer directly owned 1,108,182 shares in the company, valued at approximately $7,602,128.52. The trade was a 10.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,497,048 shares of company stock worth $36,719,803 in the last ninety days. Company insiders own 5.48% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.