Rovin Capital UT ADV Buys Shares of 17,700 QuantumScape Corporation $QS

Rovin Capital UT ADV acquired a new stake in QuantumScape Corporation (NYSE:QS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,700 shares of the company’s stock, valued at approximately $119,000.

Several other large investors have also recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in shares of QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after acquiring an additional 5,841 shares during the period. Federated Hermes Inc. boosted its holdings in QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after purchasing an additional 5,438 shares during the period. Hollencrest Capital Management grew its stake in QuantumScape by 333.3% during the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares in the last quarter. North Capital Inc. acquired a new position in QuantumScape during the 2nd quarter worth $27,000. Finally, Quarry LP purchased a new stake in QuantumScape during the 1st quarter worth about $37,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Price Performance

QS stock opened at $16.57 on Friday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $9.96 billion, a P/E ratio of -20.46 and a beta of 4.83. The business has a 50 day simple moving average of $13.46 and a 200-day simple moving average of $9.02. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of ($36.67) million during the quarter. During the same quarter last year, the firm earned ($0.23) earnings per share. As a group, equities analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on shares of QuantumScape and gave the company a “hold” rating in a research report on Thursday, October 23rd. Cowen restated a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. TD Cowen lifted their price objective on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, QuantumScape currently has a consensus rating of “Reduce” and an average target price of $7.66.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 19,122 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.49, for a total transaction of $296,199.78. Following the completion of the sale, the director directly owned 142,221 shares of the company’s stock, valued at $2,203,003.29. This represents a 11.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $15.78, for a total value of $789,000.00. Following the sale, the insider directly owned 1,376,118 shares of the company’s stock, valued at $21,715,142.04. The trade was a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,001,305 shares of company stock valued at $44,058,829. 5.48% of the stock is owned by insiders.

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.