GMT Capital Corp Acquires 681,300 Shares of QuantumScape Corporation $QS

GMT Capital Corp raised its holdings in QuantumScape Corporation (NYSE:QS) by 141.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,163,500 shares of the company’s stock after acquiring an additional 681,300 shares during the quarter. GMT Capital Corp’s holdings in QuantumScape were worth $7,819,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of QS. Baird Financial Group Inc. raised its holdings in shares of QuantumScape by 8.5% during the 2nd quarter. Baird Financial Group Inc. now owns 18,575 shares of the company’s stock valued at $125,000 after purchasing an additional 1,450 shares in the last quarter. PNC Financial Services Group Inc. increased its position in QuantumScape by 54.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company’s stock worth $37,000 after buying an additional 1,963 shares during the last quarter. Wealthfront Advisers LLC increased its position in QuantumScape by 12.9% during the second quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company’s stock worth $147,000 after buying an additional 2,495 shares during the last quarter. HighTower Advisors LLC raised its holdings in QuantumScape by 13.7% during the first quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock valued at $98,000 after buying an additional 2,838 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its position in shares of QuantumScape by 23.2% in the second quarter. HUB Investment Partners LLC now owns 15,533 shares of the company’s stock worth $104,000 after buying an additional 2,920 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Stock Down 7.6%

Shares of QS stock opened at $11.82 on Friday. 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. The firm has a market cap of $7.11 billion, a PE ratio of -14.59 and a beta of 2.76. The stock has a 50 day moving average of $14.37 and a 200-day moving average of $10.54.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). During the same quarter last year, the company posted ($0.23) earnings per share. On average, equities analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Brad W. Buss sold 300,000 shares of QuantumScape stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $17.98, for a total transaction of $5,394,000.00. Following the sale, the director directly owned 122,476 shares of the company’s stock, valued at $2,202,118.48. This trade represents a 71.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 40,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $11.79, for a total value of $471,600.00. Following the transaction, the insider owned 137,888 shares in the company, valued at $1,625,699.52. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,116,491 shares of company stock worth $47,370,223. 5.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Morgan Stanley started coverage on QuantumScape in a research report on Monday, December 8th. They set an “equal weight” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Hsbc Global Res upgraded shares of QuantumScape to a “moderate sell” rating in a research note on Wednesday, November 19th. Finally, HSBC downgraded shares of QuantumScape from a “hold” rating to a “reduce” rating and upped their price objective for the stock from $5.30 to $10.50 in a report on Wednesday, November 19th. Seven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $9.17.

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.