Insider Selling: QuantumScape Co. (NYSE:QS) Director Sells 308,097 Shares of Stock

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the transaction, the director now owns 2,563,767 shares in the company, valued at $13,587,965.10. This represents a 10.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jagdeep Singh also recently made the following trade(s):

• On Thursday, November 14th, Jagdeep Singh sold 5,531 shares of QuantumScape stock. The stock was sold at an average price of $5.01, for a total value of $27,710.31.
• On Monday, October 7th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.53, for a total value of $1,063,253.10.
• On Tuesday, September 17th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30.

QuantumScape Price Performance

Shares of QuantumScape stock traded down $0.24 on Tuesday, hitting $5.01. The company’s stock had a trading volume of 13,826,582 shares, compared to its average volume of 9,124,574. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. QuantumScape Co. has a 1 year low of $4.65 and a 1 year high of $10.03. The firm has a fifty day moving average price of $5.26 and a 200-day moving average price of $5.69. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -5.52 and a beta of 4.50.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target 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, November 19th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Finally, Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has an average rating of “Hold” and an average price target of $6.26.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of QS. Sanctuary Advisors LLC increased its stake in QuantumScape by 28.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after buying an additional 35,579 shares in the last quarter. Virtu Financial LLC purchased a new stake in QuantumScape during the 3rd quarter worth approximately $235,000. Barclays PLC increased its stake in QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after buying an additional 79,871 shares in the last quarter. Geode Capital Management LLC increased its stake in QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after buying an additional 218,743 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of QuantumScape by 139.2% in the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after purchasing an additional 26,820 shares in the last quarter. Hedge funds and other 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.