Dipender Saluja Sells 2,613,121 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) Director Dipender Saluja sold 2,613,121 shares of QuantumScape stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.01, for a total transaction of $28,770,462.21. Following the sale, the director owned 9,892,934 shares in the company, valued at $108,921,203.34. This represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Dipender Saluja also recently made the following trade(s):

• On Friday, December 12th, Dipender Saluja sold 684,524 shares of QuantumScape stock. The stock was sold at an average price of $11.94, for a total value of $8,173,216.56.

QuantumScape Stock Down 1.1%

QS opened at $10.73 on Thursday. QuantumScape Corporation has a one year low of $3.40 and a one year high of $19.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The stock has a market capitalization of $6.45 billion, a P/E ratio of -13.24 and a beta of 2.76. The business’s 50-day simple moving average is $14.09 and its 200-day simple moving average is $10.73.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). During the same period in the previous year, the company posted ($0.23) EPS. Analysts anticipate 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 bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in shares of QuantumScape in the third quarter valued at about $64,000. Swiss Life Asset Management Ltd raised its holdings in QuantumScape by 72.6% during the third quarter. Swiss Life Asset Management Ltd now owns 18,870 shares of the company’s stock worth $232,000 after purchasing an additional 7,940 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in QuantumScape in the third quarter valued at about $129,000. Coldstream Capital Management Inc. boosted its holdings in QuantumScape by 8.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock valued at $153,000 after purchasing an additional 939 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in QuantumScape during the 3rd quarter worth approximately $809,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on QS. Hsbc Global Res raised shares of QuantumScape to a “moderate sell” rating in a report on Wednesday, November 19th. TD Cowen raised their price objective on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. HSBC lowered shares of QuantumScape from a “hold” rating to a “reduce” rating and lifted their price objective for the company from $5.30 to $10.50 in a research note on Wednesday, November 19th. Morgan Stanley began coverage on shares of QuantumScape in a research note on Monday, December 8th. They set an “equal weight” rating and a $12.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Reduce” and a consensus target price of $9.17.

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.