Insider Selling: QuantumScape Co. (NYSE:QS) Director Sells 12,908 Shares of Stock

QuantumScape Co. (NYSE:QS) Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

QuantumScape Stock Up 2.4 %

QS opened at $5.16 on Friday. QuantumScape Co. has a 12 month low of $4.65 and a 12 month high of $10.03. The business has a 50-day moving average of $5.41 and a two-hundred day moving average of $5.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -5.43 and a beta of 4.60.

QuantumScape (NYSE:QS) last released 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 period last year, the business posted ($0.23) earnings per share. On average, research analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current year.

Institutional Trading of QuantumScape

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares during the period. State Street Corp grew its position in QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after acquiring an additional 87,563 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of QuantumScape by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after purchasing an additional 93,826 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in QuantumScape by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after purchasing an additional 25,347 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on QS shares. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a report on Tuesday. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.26.

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.