Insider Selling: QuantumScape (NYSE:QS) CFO Sells $60,760.00 in Stock

QuantumScape Corporation (NYSE:QS) CFO Kevin Hettrich sold 9,800 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $6.20, for a total transaction of $60,760.00. Following the completion of the transaction, the chief financial officer owned 1,357,918 shares in the company, valued at approximately $8,419,091.60. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Hettrich also recently made the following trade(s):

• On Monday, February 23rd, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The stock was sold at an average price of $6.76, for a total transaction of $66,248.00.
• On Wednesday, January 14th, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The stock was sold at an average price of $10.59, for a total transaction of $103,782.00.

QuantumScape Stock Performance

NYSE:QS opened at $6.36 on Monday. The stock has a market capitalization of $3.90 billion, a P/E ratio of -7.85 and a beta of 2.54. 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 Corporation has a 1 year low of $3.40 and a 1 year high of $19.07. The firm has a 50 day moving average of $7.44 and a 200-day moving average of $11.09.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). During the same period last year, the company posted ($0.22) earnings per share. QuantumScape’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

QS has been the subject of a number of research reports. Robert W. Baird set a $12.00 target price on QuantumScape in a research note on Thursday, February 12th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and reduced their price target for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. TD Cowen reissued a “hold” rating on shares of QuantumScape in a report on Wednesday, February 18th. Finally, Morgan Stanley dropped their target price on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $8.98.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in QS. AQR Capital Management LLC acquired a new position in shares of QuantumScape during the first quarter valued at $321,000. NewEdge Advisors LLC raised its holdings in QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock worth $88,000 after purchasing an additional 7,111 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 purchasing an additional 3,904,168 shares during the last quarter. JPMorgan Chase & Co. lifted its position in QuantumScape by 1,005.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company’s stock valued at $13,323,000 after purchasing an additional 1,803,196 shares during the period. Finally, Rhumbline Advisers lifted its position in QuantumScape by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 321,802 shares of the company’s stock valued at $2,162,000 after purchasing an additional 10,013 shares during the period. Institutional investors own 29.87% of the company’s stock.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.