Victory Capital Management Inc. Makes New Investment in QuantumScape Co. (NYSE:QS)

Victory Capital Management Inc. purchased a new position in shares of QuantumScape Co. (NYSE:QS) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 29,232 shares of the company’s stock, valued at approximately $717,000.

Several other hedge funds have also bought and sold shares of QS. Clearstead Advisors LLC grew its holdings in shares of QuantumScape by 116.7% in the second quarter. Clearstead Advisors LLC now owns 1,040 shares of the company’s stock worth $30,000 after purchasing an additional 560 shares during the last quarter. Albion Financial Group UT bought a new position in shares of QuantumScape in the second quarter worth approximately $32,000. Deutsche Bank AG bought a new position in shares of QuantumScape in the second quarter worth approximately $41,000. Reilly Financial Advisors LLC grew its holdings in shares of QuantumScape by 163.7% in the third quarter. Reilly Financial Advisors LLC now owns 2,255 shares of the company’s stock worth $55,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of QuantumScape in the second quarter worth approximately $73,000. 21.72% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:QS opened at $20.68 on Friday. The stock has a market cap of $8.74 billion, a P/E ratio of -7.23 and a beta of 10.18. The firm’s fifty day simple moving average is $27.17 and its 200 day simple moving average is $24.96. QuantumScape Co. has a twelve month low of $19.12 and a twelve month high of $71.97. The company has a quick ratio of 42.79, a current ratio of 42.78 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Monday, October 25th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). During the same quarter last year, the company posted ($1.57) EPS. On average, analysts expect that QuantumScape Co. will post -0.1 EPS for the current fiscal year.

Several brokerages have recently issued reports on QS. Morgan Stanley restated an “equal weight” rating on shares of QuantumScape in a report on Tuesday, November 16th. JPMorgan Chase & Co. lifted their price target on shares of QuantumScape from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 18th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.67.

In other news, Director Fritz Prinz sold 155,600 shares of the business’s stock in a transaction on Wednesday, January 12th. The shares were sold at an average price of $21.08, for a total transaction of $3,280,048.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Justin E. Mirro sold 50,000 shares of the business’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $35.51, for a total transaction of $1,775,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,261,964 shares of company stock worth $32,667,229. Company insiders own 16.22% of the company’s stock.

About QuantumScape

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.

Further Reading: Quiet Period Expirations

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Institutional Ownership by Quarter for QuantumScape (NYSE:QS)

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