Jeffrey B. Straubel Sells 69,309 Shares of QuantumScape Co. (NYSE:QS) Stock

QuantumScape Co. (NYSE:QS) Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $7.00, for a total transaction of $485,163.00. Following the completion of the sale, the director now owns 292,644 shares of the company’s stock, valued at $2,048,508. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

QuantumScape Trading Down 1.4 %

NYSE QS opened at $6.87 on Friday. The company has a fifty day simple moving average of $8.57 and a two-hundred day simple moving average of $7.78. The stock has a market cap of $3.07 billion, a P/E ratio of -6.73 and a beta of 5.28. QuantumScape Co. has a 12-month low of $5.11 and a 12-month high of $13.86. The company has a current ratio of 19.25, a quick ratio of 19.25 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). During the same period last year, the firm earned ($0.22) EPS. On average, analysts forecast that QuantumScape Co. will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of QuantumScape by 11.9% during the third quarter. Vanguard Group Inc. now owns 20,555,744 shares of the company’s stock worth $172,874,000 after purchasing an additional 2,178,359 shares during the last quarter. BlackRock Inc. raised its holdings in shares of QuantumScape by 9.7% during the second quarter. BlackRock Inc. now owns 13,035,638 shares of the company’s stock worth $104,155,000 after purchasing an additional 1,148,137 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of QuantumScape by 6.5% during the fourth quarter. Two Sigma Investments LP now owns 4,553,486 shares of the company’s stock worth $25,818,000 after purchasing an additional 278,485 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of QuantumScape by 3.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,311,765 shares of the company’s stock worth $35,270,000 after purchasing an additional 159,021 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of QuantumScape by 4.9% during the second quarter. State Street Corp now owns 4,233,576 shares of the company’s stock worth $33,826,000 after purchasing an additional 198,244 shares during the last quarter. Hedge funds and other institutional investors own 27.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QS shares. Wolfe Research downgraded shares of QuantumScape from a “peer perform” rating to an “underperform” rating and set a $2.00 target price for the company. in a research note on Thursday, June 8th. TD Cowen downgraded shares of QuantumScape from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $14.00 to $8.00 in a research note on Wednesday, July 19th. The Goldman Sachs Group raised their target price on shares of QuantumScape from $4.00 to $6.00 and gave the company a “sell” rating in a research note on Tuesday, August 1st. Finally, Truist Financial raised their target price on shares of QuantumScape from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 25th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, QuantumScape has an average rating of “Reduce” and an average target price of $6.17.

About QuantumScape

QuantumScape Corporation, a development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape Corporation was founded in 2010 and is headquartered in San Jose, California.