QuantumScape (NYSE:QS) Director Sells $2,190,963.74 in Stock

QuantumScape Corporation (NYSE:QS) Director Jeffrey Straubel sold 157,171 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $13.94, for a total transaction of $2,190,963.74. Following the completion of the transaction, the director owned 321,040 shares of the company’s stock, valued at approximately $4,475,297.60. The trade was a 32.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

QuantumScape Stock Up 11.3%

Shares of QS stock opened at $15.91 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. QuantumScape Corporation has a one year low of $3.40 and a one year high of $16.49. The company’s fifty day moving average price is $9.81 and its 200-day moving average price is $6.97. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of -18.50 and a beta of 4.85.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same period in the previous year, the firm earned ($0.25) EPS. Sell-side analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research report on Saturday, September 27th. Robert W. Baird boosted their target price on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, TD Cowen upgraded QuantumScape to a “hold” rating in a research report on Monday, July 7th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $5.88.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QS. Wedmont Private Capital purchased a new stake in QuantumScape in the 1st quarter valued at about $103,000. Optas LLC bought a new stake in shares of QuantumScape during the first quarter valued at approximately $63,000. Sowell Financial Services LLC purchased a new stake in shares of QuantumScape in the first quarter valued at approximately $58,000. Cornerstone Wealth Management LLC purchased a new stake in shares of QuantumScape in the first quarter valued at approximately $55,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in QuantumScape by 362.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock worth $1,577,000 after purchasing an additional 297,097 shares in the last quarter. Hedge funds and other 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.