Tortoise Capital Advisors L.L.C. acquired a new position in QuantumScape Co. (NYSE:QS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 43,728 shares of the company’s stock, valued at approximately $1,957,000.
Other hedge funds have also modified their holdings of the company. Neuberger Berman Group LLC raised its position in shares of QuantumScape by 50.6% in the first quarter. Neuberger Berman Group LLC now owns 32,045 shares of the company’s stock worth $1,434,000 after buying an additional 10,769 shares in the last quarter. Pinz Capital Management LP purchased a new stake in shares of QuantumScape in the first quarter worth $6,400,000. Hudock Inc. raised its position in QuantumScape by 1,450.7% during the first quarter. Hudock Inc. now owns 2,295 shares of the company’s stock valued at $102,000 after purchasing an additional 2,147 shares in the last quarter. CWM LLC raised its position in QuantumScape by 59.6% during the first quarter. CWM LLC now owns 1,369 shares of the company’s stock valued at $61,000 after purchasing an additional 511 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in QuantumScape during the first quarter valued at about $246,000. Institutional investors own 14.45% of the company’s stock.
Shares of QS traded down $1.08 during trading hours on Thursday, hitting $23.15. The company had a trading volume of 124,385 shares, compared to its average volume of 9,692,230. The firm has a market cap of $9.40 billion and a price-to-earnings ratio of -63.18. The company’s 50 day moving average is $26.90. QuantumScape Co. has a 52-week low of $9.74 and a 52-week high of $132.73.
QS has been the topic of a number of research reports. Wolfe Research initiated coverage on QuantumScape in a research report on Thursday, June 17th. They set a “peer perform” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on QuantumScape in a research report on Tuesday. They set a “neutral” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. QuantumScape has an average rating of “Hold” and a consensus target price of $44.14.
In related news, insider Mohit Singh sold 600,000 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $24.86, for a total value of $14,916,000.00. Following the completion of the transaction, the insider now directly owns 901,630 shares in the company, valued at approximately $22,414,521.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jurgen Leohold sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $24.95, for a total transaction of $1,247,500.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $1,247,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,340,213 shares of company stock worth $34,356,840.
QuantumScape Corporation, a development stage company, engages in 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.
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