Dipender Saluja Sells 684,524 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) Director Dipender Saluja sold 684,524 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $11.94, for a total value of $8,173,216.56. Following the transaction, the director directly owned 12,506,055 shares in the company, valued at approximately $149,322,296.70. This represents a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 15th, Dipender Saluja sold 2,613,121 shares of QuantumScape stock. The shares were sold at an average price of $11.01, for a total value of $28,770,462.21.

QuantumScape Stock Performance

QS stock opened at $10.73 on Thursday. The stock’s 50 day simple moving average is $14.09 and its 200 day simple moving average is $10.73. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $19.07. The firm has a market cap of $6.45 billion, a P/E ratio of -13.24 and a beta of 2.76. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). During the same quarter last year, the company posted ($0.23) earnings per share. As a group, equities research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. TD Cowen lifted their target price on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Evercore ISI reaffirmed an “in-line” rating and set a $12.00 target price (up from $8.00) on shares of QuantumScape in a report on Monday, November 24th. Cowen reissued a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Finally, Hsbc Global Res upgraded QuantumScape to a “moderate sell” rating in a research report on Wednesday, November 19th. Seven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $9.17.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of QuantumScape by 1.2% during the third quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock worth $451,346,000 after buying an additional 422,378 shares during the period. Geode Capital Management LLC raised its stake in QuantumScape by 12.5% during the 2nd quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company’s stock valued at $46,475,000 after acquiring an additional 768,070 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in QuantumScape by 456.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after acquiring an additional 3,904,168 shares during the period. Two Sigma Investments LP grew its stake in shares of QuantumScape by 150.1% in the third quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock worth $44,725,000 after purchasing an additional 2,178,918 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of QuantumScape during the third quarter valued at $44,421,000. Institutional investors own 29.87% of the company’s stock.

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.