QuantumScape (NYSE:QS) Stock Price Down 1.3% on Insider Selling

QuantumScape Corporation (NYSE:QS) traded down 1.3% during mid-day trading on Monday following insider selling activity. The company traded as low as $15.64 and last traded at $15.72. 50,149,244 shares were traded during trading, an increase of 87% from the average session volume of 26,771,592 shares. The stock had previously closed at $15.92.

Specifically, Director Jeffrey B. Straubel sold 157,171 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total transaction of $2,190,963.74. Following the completion of the sale, the director owned 321,040 shares of the company’s stock, valued at approximately $4,475,297.60. This represents a 32.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $13.94, for a total transaction of $136,612.00. Following the transaction, the chief financial officer owned 1,591,467 shares of the company’s stock, valued at approximately $22,185,049.98. The trade was a 0.61% decrease in their position. The disclosure for this sale can be found here. In other news, CTO Timothy Holme sold 44,923 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $15.52, for a total value of $697,204.96. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

QS has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a report on Saturday, September 27th. Robert W. Baird boosted their price objective on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, TD Cowen upgraded QuantumScape to a “hold” rating in a research report on Monday, July 7th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, QuantumScape currently has an average rating of “Reduce” and an average price target of $5.88.

QuantumScape Stock Down 1.3%

The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $9.91 and its 200-day moving average price is $7.05. The company has a market cap of $8.90 billion, a P/E ratio of -18.28 and a beta of 4.85.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same quarter in the prior year, the business posted ($0.25) earnings per share. As a group, research analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current year.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently modified their holdings of QS. Signaturefd LLC increased its stake in QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock valued at $25,000 after purchasing an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. Federated Hermes Inc. increased its position in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after acquiring an additional 5,438 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 5,000 shares during the last quarter. Finally, North Capital Inc. bought a new position in QuantumScape in the 2nd quarter valued at about $27,000. 29.87% of the stock is currently owned by institutional investors.

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.