QuantumScape (NYSE:QS) Trading Down 0.6% Following Insider Selling

QuantumScape Co. (NYSE:QS)’s share price was down 0.6% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $4.77 and last traded at $4.82. Approximately 2,227,799 shares changed hands during trading, a decline of 75% from the average daily volume of 8,819,386 shares. The stock had previously closed at $4.85.

Specifically, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several brokerages recently commented on QS. Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.14.

QuantumScape Stock Performance

The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -4.99 and a beta of 4.60. The firm’s 50-day moving average price is $5.49 and its two-hundred day moving average price is $5.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the firm earned ($0.23) EPS. On average, analysts expect that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its stake in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the period. CWM LLC boosted its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the period. Mather Group LLC. acquired a new stake in shares of QuantumScape during the second quarter valued at about $36,000. Finally, Alaska Wealth Advisors purchased a new stake in shares of QuantumScape in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on 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.