QuantumScape (NYSE:QS) Shares Down 1% After Insider Selling

QuantumScape Co. (NYSE:QS) dropped 1% during trading on Wednesday following insider selling activity. The company traded as low as $5.63 and last traded at $5.70. Approximately 1,328,868 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 9,307,684 shares. The stock had previously closed at $5.76.

Specifically, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.50, for a total transaction of $1,057,485.00. Following the completion of the sale, the director now directly owns 2,809,253 shares of the company’s stock, valued at approximately $15,450,891.50. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

QS has been the topic of several research analyst reports. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. UBS Group dropped their target price on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.62.

QuantumScape Trading Down 1.9 %

The stock has a market capitalization of $2.86 billion, a P/E ratio of -6.10 and a beta of 4.62. The stock’s fifty day moving average price is $6.05 and its 200 day moving average price is $6.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 10.38.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its position in shares of QuantumScape by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock worth $1,638,000 after purchasing an additional 1,481 shares during the period. Spire Wealth Management lifted its holdings in QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the period. Xponance Inc. boosted its position in QuantumScape by 15.8% during the 4th quarter. Xponance Inc. now owns 12,050 shares of the company’s stock valued at $84,000 after acquiring an additional 1,640 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of QuantumScape by 2.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock valued at $392,000 after acquiring an additional 2,059 shares during the period. Finally, Amalgamated Bank raised its position in shares of QuantumScape by 5.6% in the 4th quarter. Amalgamated Bank now owns 45,784 shares of the company’s stock worth $318,000 after acquiring an additional 2,432 shares in the last quarter. 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.