QuantumScape (NYSE:QS) Director Sells $5,394,000.00 in Stock

QuantumScape Corporation (NYSE:QS) Director Brad Buss sold 300,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $17.98, for a total value of $5,394,000.00. Following the transaction, the director directly owned 122,476 shares in the company, valued at approximately $2,202,118.48. This represents a 71.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

QuantumScape Trading Up 16.5%

Shares of QuantumScape stock opened at $18.40 on Monday. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $19.07. The firm has a market cap of $11.06 billion, a PE ratio of -22.72 and a beta of 4.83. The business’s fifty day moving average is $12.64 and its two-hundred day moving average is $8.66. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of ($36.67) million for the quarter. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp increased its position in shares of QuantumScape by 97.2% during the first quarter. M&T Bank Corp now owns 39,964 shares of the company’s stock worth $166,000 after acquiring an additional 19,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of QuantumScape by 362.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock worth $1,577,000 after acquiring an additional 297,097 shares during the last quarter. Perbak Capital Partners LLP purchased a new stake in shares of QuantumScape during the first quarter worth about $353,000. Nuveen LLC purchased a new stake in shares of QuantumScape during the first quarter worth about $2,819,000. Finally, CacheTech Inc. purchased a new stake in shares of QuantumScape during the first quarter worth about $130,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QS. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Robert W. Baird upped their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Cowen restated a “hold” rating on shares of QuantumScape in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Finally, TD Cowen upped their price objective on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday. Eight analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $7.66.

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.