QuantumScape (NYSE:QS) Stock Price Down 8.4% Following Insider Selling

QuantumScape Co. (NYSE:QS)’s stock price dropped 8.4% during trading on Monday after an insider sold shares in the company. The company traded as low as $5.44 and last traded at $5.45. Approximately 8,369,073 shares changed hands during trading, a decline of 13% from the average daily volume of 9,607,406 shares. The stock had previously closed at $5.95.

Specifically, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

QS has been the topic of several research analyst reports. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Wolfe Research started coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Finally, Truist Financial reissued a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

The stock has a market cap of $2.81 billion, a PE ratio of -5.78 and a beta of 4.50. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $5.18 and its 200-day moving average is $5.64.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the company posted ($0.23) EPS. As a group, sell-side analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after buying an additional 3,310 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after acquiring an additional 3,527 shares during the last quarter. International Assets Investment Management LLC raised its holdings in QuantumScape by 475.1% during the 3rd 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. Finally, Arizona State Retirement System lifted its position in shares of QuantumScape by 4.6% in the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock valued at $486,000 after acquiring an additional 4,330 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors.

About QuantumScape

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.