Brad Buss Sells 400,000 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) Director Brad Buss sold 400,000 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.75, for a total transaction of $6,300,000.00. Following the completion of the sale, the director directly owned 122,476 shares of the company’s stock, valued at approximately $1,928,997. The trade was a 76.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

QuantumScape Trading Up 1.6%

Shares of QS opened at $15.84 on Thursday. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $19.07. The company has a quick ratio of 16.40, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $12.28 and its two-hundred day moving average is $8.44. The stock has a market cap of $8.96 billion, a PE ratio of -19.55 and a beta of 4.85.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of ($36.67) million for the quarter. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QS. Signaturefd LLC boosted its position in shares of 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 acquiring an additional 5,841 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after acquiring an additional 3,311 shares during the last quarter. Federated Hermes Inc. lifted its position in QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after buying an additional 5,438 shares during the last quarter. Hollencrest Capital Management lifted its position in QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 5,000 shares during the last quarter. Finally, North Capital Inc. acquired a new stake in shares of QuantumScape during the second quarter valued at about $27,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. TD Cowen raised shares of QuantumScape to a “hold” rating in a research note on Monday, July 7th. Robert W. Baird lifted their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $6.47.

About QuantumScape

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.