Y Intercept Hong Kong Ltd Purchases Shares of 245,641 QuantumScape Co. (NYSE:QS)

Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape Co. (NYSE:QS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 245,641 shares of the company’s stock, valued at approximately $1,275,000.

Several other hedge funds have also added to or reduced their stakes in the business. Birchcreek Wealth Management LLC increased its position in QuantumScape by 13.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company’s stock worth $117,000 after buying an additional 2,700 shares during the period. Handelsbanken Fonder AB increased its position in QuantumScape by 2.0% during the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after buying an additional 2,300 shares during the period. Ieq Capital LLC increased its position in QuantumScape by 2.6% during the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after buying an additional 2,200 shares during the period. Private Advisor Group LLC increased its position in shares of QuantumScape by 47.3% in the fourth quarter. Private Advisor Group LLC now owns 61,356 shares of the company’s stock worth $318,000 after purchasing an additional 19,704 shares during the period. Finally, Atlas Legacy Advisors LLC bought a new position in shares of QuantumScape in the fourth quarter worth $53,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Stock Performance

NYSE:QS opened at $4.90 on Thursday. The stock’s 50-day simple moving average is $5.28 and its 200 day simple moving average is $5.39. The firm has a market capitalization of $2.51 billion, a PE ratio of -5.21 and a beta of 4.45. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $9.52.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, analysts anticipate that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research report on Tuesday, November 19th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research report on Tuesday. Truist Financial decreased their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.06.

Insider Activity

In related news, CFO Kevin Hettrich sold 53,975 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the transaction, the chief financial officer now directly owns 930,800 shares of the company’s stock, valued at $4,868,084. The trade was a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the transaction, the director now directly owns 228,287 shares in the company, valued at approximately $1,191,658.14. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 615,216 shares of company stock valued at $3,327,157. 12.03% of the stock is currently owned by corporate insiders.

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.