QuantumScape Corporation $QS Shares Bought by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd raised its stake in QuantumScape Corporation (NYSE:QS) by 29,780.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,934 shares of the company’s stock after acquiring an additional 141,459 shares during the period. QuantumScape accounts for approximately 0.7% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 26th largest position. Caitong International Asset Management Co. Ltd’s holdings in QuantumScape were worth $954,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. 180 Wealth Advisors LLC boosted its stake in QuantumScape by 4.1% in the second quarter. 180 Wealth Advisors LLC now owns 128,988 shares of the company’s stock valued at $867,000 after acquiring an additional 5,083 shares in the last quarter. Ethic Inc. boosted its stake in QuantumScape by 63.7% in the second quarter. Ethic Inc. now owns 55,844 shares of the company’s stock valued at $370,000 after acquiring an additional 21,737 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in QuantumScape in the second quarter valued at $84,000. Atria Wealth Solutions Inc. boosted its stake in QuantumScape by 131.7% in the second quarter. Atria Wealth Solutions Inc. now owns 93,581 shares of the company’s stock valued at $657,000 after acquiring an additional 53,200 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in QuantumScape by 12.2% in the second quarter. KLP Kapitalforvaltning AS now owns 87,200 shares of the company’s stock valued at $586,000 after acquiring an additional 9,500 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Price Performance

Shares of QS opened at $14.69 on Friday. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $19.07. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of -18.14 and a beta of 4.85. The firm has a 50-day simple moving average of $11.66 and a 200-day simple moving average of $8.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of ($36.67) million during the quarter. During the same period in the prior year, the firm posted ($0.23) EPS. On average, equities research analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on QS shares. Robert W. Baird upped their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a “hold” rating in a research note on Thursday. TD Cowen upgraded shares of QuantumScape to a “hold” rating in a research note on Monday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $6.47.

Insider Activity

In related news, CTO Timothy Holme sold 44,923 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $15.52, for a total value of $697,204.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey B. Straubel sold 157,171 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total transaction of $2,190,963.74. Following the completion of the sale, the director owned 321,040 shares of the company’s stock, valued at approximately $4,475,297.60. The trade was a 32.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 827,870 shares of company stock worth $9,399,135 in the last three months. 5.48% of the stock is currently owned by company 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.