QuantumScape (NYSE:QS) Trading Down 11.9% After Insider Selling

QuantumScape Corporation (NYSE:QS) shares fell 11.9% on Monday after an insider sold shares in the company. The company traded as low as $15.88 and last traded at $16.2520. 44,912,958 shares changed hands during mid-day trading, an increase of 54% from the average session volume of 29,207,828 shares. The stock had previously closed at $18.44.

Specifically, insider Michael O. Mccarthy III sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $15.78, for a total value of $789,000.00. Following the transaction, the insider owned 1,376,118 shares in the company, valued at approximately $21,715,142.04. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brad W. Buss sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.98, for a total transaction of $5,394,000.00. Following the sale, the director owned 122,476 shares of the company’s stock, valued at approximately $2,202,118.48. This represents a 71.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other news, Director Fritz Prinz sold 980,878 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $15.49, for a total value of $15,193,800.22. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QS. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. TD Cowen raised their target price on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Cowen reissued a “hold” rating on shares of QuantumScape in a research report on Thursday. Finally, Robert W. Baird upped their price target on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Eight analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $7.66.

QuantumScape Trading Down 11.9%

The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $12.81 and a two-hundred day simple moving average of $8.74. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of -20.06 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, meeting analysts’ consensus estimates of ($0.18). The business had revenue of ($36.67) million during the quarter. During the same quarter last year, the firm posted ($0.23) earnings per share. As a group, equities analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QS. Vontobel Holding Ltd. increased its position in shares of QuantumScape by 0.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock worth $1,488,000 after purchasing an additional 810 shares during the last quarter. Wedmont Private Capital lifted its position in shares of QuantumScape by 5.7% during the third quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock worth $186,000 after purchasing an additional 815 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in QuantumScape by 67.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after purchasing an additional 1,005 shares in the last quarter. CWM LLC increased its holdings in QuantumScape by 69.1% in the third quarter. CWM LLC now owns 2,625 shares of the company’s stock valued at $32,000 after buying an additional 1,073 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in QuantumScape by 6.0% in the third quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock valued at $257,000 after buying an additional 1,173 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

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.