QuantumScape Co. (NYSE:QS) Insider Sells $314,997.48 in Stock

QuantumScape Co. (NYSE:QS) insider Mohit Singh sold 71,428 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $4.41, for a total value of $314,997.48. Following the completion of the transaction, the insider now directly owns 1,640,998 shares of the company’s stock, valued at approximately $7,236,801.18. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

QuantumScape Stock Up 0.8%

Shares of QS stock opened at $4.00 on Wednesday. The firm’s fifty day moving average price is $4.07 and its two-hundred day moving average price is $4.74. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a 1 year low of $3.40 and a 1 year high of $9.52. The firm has a market capitalization of $2.24 billion, a P/E ratio of -4.26 and a beta of 4.38.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, equities analysts predict that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in QuantumScape by 9.0% during the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after buying an additional 2,911,362 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of QuantumScape by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company’s stock valued at $30,538,000 after buying an additional 28,073 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of QuantumScape by 55.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock worth $30,183,000 after acquiring an additional 2,066,844 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 last quarter. Finally, Norges Bank bought a new stake in QuantumScape in the 4th quarter valued at $17,762,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QS has been the subject of several research analyst reports. Truist Financial decreased their price objective on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. UBS Group cut shares of QuantumScape from a “neutral” rating to a “sell” rating and reduced their price target for the company from $5.00 to $2.50 in a report on Thursday, April 10th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Robert W. Baird cut their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their target price on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.19.

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.