Clear Street Group Inc. Buys New Stake in QuantumScape Corporation $QS

Clear Street Group Inc. bought a new stake in shares of QuantumScape Corporation (NYSE:QS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 989,794 shares of the company’s stock, valued at approximately $10,314,000. Clear Street Group Inc. owned about 0.16% of QuantumScape as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Entropy Technologies LP lifted its position in QuantumScape by 264.8% during the fourth quarter. Entropy Technologies LP now owns 188,593 shares of the company’s stock valued at $1,965,000 after acquiring an additional 136,893 shares during the last quarter. Barclays PLC lifted its position in QuantumScape by 105.6% during the fourth quarter. Barclays PLC now owns 71,160 shares of the company’s stock valued at $741,000 after acquiring an additional 36,547 shares during the last quarter. FORA Capital LLC lifted its position in QuantumScape by 137.5% during the fourth quarter. FORA Capital LLC now owns 190,340 shares of the company’s stock valued at $1,983,000 after acquiring an additional 110,209 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in QuantumScape by 13.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 123,620 shares of the company’s stock valued at $1,288,000 after acquiring an additional 14,416 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new stake in QuantumScape during the fourth quarter valued at approximately $216,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and decreased their target price for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. TD Cowen reissued a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Finally, Morgan Stanley decreased their target price on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, QuantumScape presently has an average rating of “Reduce” and a consensus price target of $11.13.

Insider Buying and Selling at QuantumScape

In other news, Director Jeffrey B. Straubel sold 27,106 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.85, for a total value of $212,782.10. Following the sale, the director owned 131,298 shares in the company, valued at $1,030,689.30. This represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Timothy Holme sold 150,320 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $9.30, for a total transaction of $1,397,976.00. Following the completion of the sale, the chief technology officer owned 1,712,506 shares in the company, valued at $15,926,305.80. The trade was a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 778,932 shares of company stock worth $6,043,845 over the last ninety days. 3.93% of the stock is owned by insiders.

QuantumScape Stock Down 1.9%

NYSE:QS opened at $7.09 on Friday. The firm has a market capitalization of $4.36 billion, a P/E ratio of -8.75 and a beta of 2.60. QuantumScape Corporation has a 1-year low of $4.16 and a 1-year high of $19.07. The company’s fifty day moving average price is $7.56 and its 200-day moving average price is $8.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. During the same quarter last year, the business posted ($0.21) earnings per share. As a group, equities research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

QuantumScape Profile

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.