QuantumScape (NYSE:QS) Shares Down 1.1% on Insider Selling

QuantumScape Co. (NYSE:QS)’s share price traded down 1.1% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $6.43 and last traded at $6.47. 1,287,154 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 9,475,789 shares. The stock had previously closed at $6.54.

Specifically, CFO Kevin Hettrich sold 45,848 shares of QuantumScape stock in a transaction on Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction of $257,207.28. Following the completion of the sale, the chief financial officer now directly owns 1,145,821 shares in the company, valued at $6,428,055.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jagdeep Singh sold 192,280 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $5.85, for a total transaction of $1,124,838.00. Following the completion of the sale, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $16,434,130.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 45,848 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $5.61, for a total transaction of $257,207.28. Following the transaction, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at approximately $6,428,055.81. The disclosure for this sale can be found here. Insiders sold a total of 1,070,038 shares of company stock worth $6,333,595 over the last three months. Corporate insiders own 10.18% of the company’s stock.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of research analyst reports. Truist Financial reduced their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. UBS Group decreased their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, QuantumScape currently has a consensus rating of “Hold” and a consensus price target of $6.45.

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. The business has a 50 day simple moving average of $6.04 and a 200-day simple moving average of $6.13. The stock has a market cap of $3.23 billion, a P/E ratio of -6.73 and a beta of 4.62.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the previous year, the company posted ($0.26) earnings per share. On average, sell-side analysts forecast that QuantumScape Co. will post -0.9 EPS for the current year.

Hedge Funds Weigh In On QuantumScape

Large investors have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in shares of QuantumScape by 14.0% during the fourth quarter. Raymond James & Associates now owns 25,786 shares of the company’s stock worth $179,000 after purchasing an additional 3,158 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of QuantumScape by 6.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 301,079 shares of the company’s stock valued at $2,092,000 after acquiring an additional 17,470 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC increased its holdings in QuantumScape by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock worth $77,000 after purchasing an additional 2,861 shares during the period. International Assets Investment Management LLC increased its holdings in shares of QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after acquiring an additional 5,296 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of QuantumScape during the 4th quarter worth about $232,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.