QuantumScape (NYSE:QS) Stock Price Down 10.2% After Insider Selling

QuantumScape Corporation (NYSE:QS)’s stock price dropped 10.2% on Friday following insider selling activity. The company traded as low as $8.15 and last traded at $8.1570. Approximately 4,882,885 shares traded hands during trading, a decline of 72% from the average daily volume of 17,638,293 shares. The stock had previously closed at $9.08.

Specifically, CTO Timothy Holme sold 40,615 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $9.30, for a total transaction of $377,719.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Timothy Holme sold 150,320 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $9.30, for a total transaction of $1,397,976.00. Following the completion of the transaction, the chief technology officer directly owned 1,712,506 shares of the company’s stock, valued at $15,926,305.80. This represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on QS shares. Robert W. Baird set a $12.00 price objective on QuantumScape in a research note on Thursday, February 12th. Morgan Stanley cut their target price on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and reduced their price objective for the company from $10.50 to $8.30 in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $11.13.

QuantumScape Stock Down 9.7%

The firm’s 50-day moving average is $7.45 and its 200 day moving average is $8.90. The firm has a market capitalization of $5.04 billion, a PE ratio of -10.08 and a beta of 2.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. During the same period last year, the company earned ($0.21) EPS. As a group, research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently modified their holdings of QS. NewEdge Advisors LLC lifted its position in QuantumScape by 9.7% during the first quarter. NewEdge Advisors LLC now owns 63,910 shares of the company’s stock worth $408,000 after buying an additional 5,662 shares during the period. Vestor Capital LLC grew its stake in QuantumScape by 255.2% during the first quarter. Vestor Capital LLC now owns 8,000 shares of the company’s stock worth $51,000 after buying an additional 5,748 shares during the period. California State Teachers Retirement System increased its holdings in QuantumScape by 23.3% in the 1st quarter. California State Teachers Retirement System now owns 491,725 shares of the company’s stock valued at $3,137,000 after purchasing an additional 93,079 shares in the last quarter. Empowered Funds LLC grew its stake in shares of QuantumScape by 12.3% in the first quarter. Empowered Funds LLC now owns 15,906 shares of the company’s stock valued at $101,000 after buying an additional 1,737 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of QuantumScape by 10.2% during the first quarter. The Manufacturers Life Insurance Company now owns 136,224 shares of the company’s stock valued at $869,000 after purchasing an additional 12,604 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.