Insider Selling: QuantumScape (NYSE:QS) CFO Sells 9,800 Shares of Stock

QuantumScape Corporation (NYSE:QS) CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $11.07, for a total transaction of $108,486.00. Following the completion of the transaction, the chief financial officer directly owned 1,492,438 shares of the company’s stock, valued at approximately $16,521,288.66. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kevin Hettrich also recently made the following trade(s):

• On Friday, November 21st, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $11.29, for a total transaction of $110,642.00.
• On Wednesday, October 1st, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $13.94, for a total transaction of $136,612.00.

QuantumScape Stock Down 1.1%

Shares of QS traded down $0.12 during midday trading on Wednesday, hitting $10.73. 23,355,845 shares of the company’s stock traded hands, compared to its average volume of 28,446,098. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -13.24 and a beta of 2.76. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $14.18 and its 200-day moving average is $10.73.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). During the same quarter last year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers lifted its stake in shares of QuantumScape by 28.5% in the 1st quarter. Cetera Investment Advisers now owns 64,169 shares of the company’s stock valued at $267,000 after purchasing an additional 14,225 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after buying an additional 2,911,362 shares in the last quarter. Townsquare Capital LLC lifted its holdings in QuantumScape by 150.9% during the 1st quarter. Townsquare Capital LLC now owns 85,167 shares of the company’s stock valued at $354,000 after purchasing an additional 51,218 shares during the last quarter. Nuveen LLC bought a new stake in shares of QuantumScape during the first quarter worth $2,819,000. Finally, HighTower Advisors LLC raised its position in QuantumScape by 13.7% in the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock worth $98,000 after purchasing an additional 2,838 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on QS shares. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. HSBC cut shares of QuantumScape from a “hold” rating to a “reduce” rating and increased their target price for the company from $5.30 to $10.50 in a report on Wednesday, November 19th. Morgan Stanley started coverage on QuantumScape in a research note on Monday, December 8th. They set an “equal weight” rating and a $12.00 price objective on the stock. TD Cowen upped their price objective on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Finally, Hsbc Global Res raised shares of QuantumScape to a “moderate sell” rating in a research report on Wednesday, November 19th. Seven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.17.

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.