SummitTX Capital L.P. Makes New $718,000 Investment in QuantumScape Corporation $QS

SummitTX Capital L.P. bought a new stake in QuantumScape Corporation (NYSE:QS) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 112,558 shares of the company’s stock, valued at approximately $718,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley grew its position in QuantumScape by 333.5% during the 4th quarter. Morgan Stanley now owns 11,126,497 shares of the company’s stock worth $115,938,000 after acquiring an additional 8,559,554 shares during the last quarter. Renaissance Technologies LLC bought a new position in QuantumScape in the 4th quarter valued at $84,584,000. Vanguard Group Inc. boosted its stake in QuantumScape by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock worth $426,793,000 after purchasing an additional 4,323,829 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in QuantumScape by 456.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of QuantumScape during the third quarter worth $44,421,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QuantumScape

In other news, CTO Timothy Holme sold 102,991 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total transaction of $749,774.48. Following the completion of the transaction, the chief technology officer directly owned 1,712,506 shares of the company’s stock, valued at $12,467,043.68. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total transaction of $71,344.00. Following the transaction, the chief financial officer owned 1,816,257 shares of the company’s stock, valued at $13,222,350.96. The trade was a 0.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 737,540 shares of company stock worth $5,967,115 over the last ninety days. 3.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, TD Cowen cut their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Friday, July 24th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $9.47.

QuantumScape Stock Up 5.4%

Shares of NYSE:QS opened at $5.23 on Friday. QuantumScape Corporation has a one year low of $4.77 and a one year high of $19.07. The company has a 50 day moving average of $7.13 and a 200-day moving average of $7.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -6.46 and a beta of 2.61.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) earnings per share. On average, sell-side analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.