Connor Clark & Lunn Investment Management Ltd. Takes Position in QuantumScape Corporation $QS

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of QuantumScape Corporation (NYSE:QS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,756,620 shares of the company’s stock, valued at approximately $33,962,000.

Several other large investors also recently modified their holdings of the business. Tsfg LLC increased its holdings in QuantumScape by 233.3% during the 3rd quarter. Tsfg LLC now owns 2,000 shares of the company’s stock valued at $25,000 after purchasing an additional 1,400 shares during the period. REAP Financial Group LLC lifted its holdings in QuantumScape by 300.0% in the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock worth $25,000 after buying an additional 1,500 shares during the period. Russell Investments Group Ltd. grew its position in shares of 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 buying an additional 3,311 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of QuantumScape by 538.7% during the third quarter. Global Retirement Partners LLC now owns 2,312 shares of the company’s stock valued at $28,000 after buying an additional 1,950 shares during the period. Finally, VSM Wealth Advisory LLC increased its stake in shares of QuantumScape by 46.8% during the third quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock valued at $29,000 after buying an additional 750 shares during the period. 29.87% of the stock is owned by institutional investors.

QuantumScape Trading Down 1.4%

NYSE QS opened at $6.90 on Friday. 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 Corporation has a twelve month low of $3.40 and a twelve month high of $19.07. The firm has a market capitalization of $4.23 billion, a PE ratio of -8.52 and a beta of 2.51. The stock’s 50 day moving average is $8.77 and its 200 day moving average is $11.28.

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

Analysts Set New Price Targets

QS has been the subject of a number of research analyst reports. Evercore reaffirmed an “in-line” rating and issued a $12.00 price target (up from $8.00) on shares of QuantumScape in a research note on Monday, November 24th. Morgan Stanley reduced their price objective on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. HSBC upgraded shares of 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 report on Wednesday, February 18th. TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Finally, Robert W. Baird set a $12.00 price target on shares of QuantumScape in a research report on Thursday, February 12th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.98.

Insider Buying and Selling at QuantumScape

In related news, CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $6.76, for a total value of $66,248.00. Following the completion of the transaction, the chief financial officer directly owned 1,358,079 shares in the company, valued at $9,180,614.04. This trade represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Timothy Holme sold 127,077 shares of QuantumScape stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.86, for a total transaction of $871,748.22. Following the transaction, the chief technology officer directly owned 1,108,182 shares of the company’s stock, valued at approximately $7,602,128.52. This trade represents a 10.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,497,048 shares of company stock valued at $36,719,803 over the last 90 days. 5.48% of the stock is owned by corporate insiders.

QuantumScape 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.