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

SummitTX Capital L.P. acquired a new position in QuantumScape Corporation (NYSE:QS) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 112,558 shares of the company’s stock, valued at approximately $718,000.

A number of other institutional investors have also recently bought and sold shares of QS. Vanguard Group Inc. raised its holdings in QuantumScape by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock valued at $426,793,000 after acquiring an additional 4,323,829 shares in the last quarter. Morgan Stanley lifted its position in QuantumScape by 333.5% during the fourth quarter. Morgan Stanley now owns 11,126,497 shares of the company’s stock worth $115,938,000 after purchasing an additional 8,559,554 shares during the period. Geode Capital Management LLC grew its stake in QuantumScape by 16.7% during the fourth quarter. Geode Capital Management LLC now owns 8,327,604 shares of the company’s stock worth $86,794,000 after buying an additional 1,189,748 shares in the last quarter. Renaissance Technologies LLC bought a new position in QuantumScape in the 4th quarter valued at about $84,584,000. Finally, State Street Corp raised its position in shares of QuantumScape by 7.6% in the 4th quarter. State Street Corp now owns 7,500,503 shares of the company’s stock valued at $78,155,000 after buying an additional 529,602 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mohit Singh sold 50,000 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $7.87, for a total value of $393,500.00. Following the completion of the transaction, the insider owned 1,803,035 shares of the company’s stock, valued at approximately $14,189,885.45. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 150,320 shares of the stock in a transaction dated 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 transaction, the chief technology officer directly owned 1,712,506 shares of the company’s stock, valued at $15,926,305.80. This trade represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 737,540 shares of company stock valued at $5,967,115. 3.93% of the stock is currently owned by corporate insiders.

QuantumScape Price Performance

QuantumScape stock opened at $5.23 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. QuantumScape Corporation has a 52 week low of $4.77 and a 52 week high of $19.07. The stock has a market capitalization of $3.22 billion, a P/E ratio of -6.46 and a beta of 2.61. The stock has a fifty day moving average of $7.13 and a 200-day moving average of $7.52.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) EPS. On average, sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.