Mohit Singh Sells 220,000 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) insider Mohit Singh sold 220,000 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.09, for a total value of $3,319,800.00. Following the completion of the transaction, the insider owned 1,420,054 shares of the company’s stock, valued at $21,428,614.86. This trade represents a 13.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

QuantumScape Stock Performance

NYSE QS opened at $15.84 on Thursday. The stock has a 50-day simple moving average of $12.28 and a two-hundred day simple moving average of $8.44. The firm has a market capitalization of $8.96 billion, a P/E ratio of -19.55 and a beta of 4.85. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $19.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.40 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of ($36.67) million for the quarter. During the same period in the prior year, the firm earned ($0.23) EPS. On average, equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently modified their holdings of QS. Cambridge Investment Research Advisors Inc. grew its position in shares of QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock valued at $1,577,000 after acquiring an additional 297,097 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in QuantumScape by 39.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,266 shares of the company’s stock worth $503,000 after buying an additional 32,625 shares during the last quarter. Summit Trail Advisors LLC acquired a new stake in QuantumScape in the 1st quarter worth about $76,000. Teacher Retirement System of Texas acquired a new stake in QuantumScape in the 1st quarter worth about $236,000. Finally, Bank of New York Mellon Corp boosted its holdings in QuantumScape by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 941,148 shares of the company’s stock worth $3,915,000 after buying an additional 19,764 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the company a “hold” rating in a research note on Thursday, October 23rd. TD Cowen upgraded QuantumScape to a “hold” rating in a research note on Monday, July 7th. Finally, Robert W. Baird raised their target price on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Seven research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, QuantumScape has an average rating of “Reduce” and an average target price 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.