Clear Street Group Inc. Purchases New Shares in QuantumScape Corporation $QS

Clear Street Group Inc. purchased a new stake in shares of QuantumScape Corporation (NYSE:QS) during the 4th quarter, HoldingsChannel reports. The firm purchased 989,794 shares of the company’s stock, valued at approximately $10,314,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QS. AQR Capital Management LLC acquired a new stake in QuantumScape during the first quarter valued at $321,000. NewEdge Advisors LLC grew its position in QuantumScape by 50.4% during the first quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock valued at $88,000 after buying an additional 7,111 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in QuantumScape by 456.5% during 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 valued at $19,799,000 after buying an additional 3,904,168 shares during the period. Prudential Financial Inc. grew its position in QuantumScape by 41.4% during the second quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock valued at $211,000 after buying an additional 9,210 shares during the period. Finally, Russell Investments Group Ltd. grew its position in QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QS shares. Morgan Stanley dropped their price target on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. TD Cowen restated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Finally, HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and dropped their price target for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $11.13.

Insider Buying and Selling

In related news, Director Jeffrey B. Straubel sold 27,106 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $6.17, for a total transaction of $167,244.02. Following the transaction, the director directly owned 158,404 shares in the company, valued at approximately $977,352.68. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Timothy Holme sold 150,320 shares of the business’s 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 778,932 shares of company stock worth $6,043,845. 3.93% of the stock is owned by insiders.

QuantumScape Stock Performance

QS opened at $7.09 on Friday. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a market cap of $4.36 billion, a price-to-earnings ratio of -8.75 and a beta of 2.60. QuantumScape Corporation has a 52-week low of $4.16 and a 52-week high of $19.07. The firm’s fifty day simple moving average is $7.56 and its two-hundred day simple moving average is $8.72.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. During the same quarter in the previous year, the company earned ($0.21) EPS. Equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

QuantumScape Company 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.