Insider Selling: QuantumScape (NYSE:QS) Director Sells 157,171 Shares of Stock

QuantumScape Corporation (NYSE:QS) Director Jeffrey Straubel sold 157,171 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $16.93, for a total value of $2,660,905.03. Following the completion of the transaction, the director owned 293,934 shares in the company, valued at $4,976,302.62. This represents a 34.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

QuantumScape Trading Up 4.2%

QS stock traded up $0.67 during midday trading on Friday, hitting $16.57. 33,141,800 shares of the company’s stock were exchanged, compared to its average volume of 46,437,280. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The business has a 50-day simple moving average of $13.46 and a two-hundred day simple moving average of $9.02. The stock has a market capitalization of $9.96 billion, a PE ratio of -20.46 and a beta of 4.83. 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 results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of ($36.67) million for the quarter. During the same period in the previous year, the company posted ($0.23) EPS. On average, sell-side analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on QS shares. Robert W. Baird boosted their price target on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. TD Cowen upped their price target on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, October 30th. Cowen restated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $7.66.

Institutional Trading of QuantumScape

A number of large investors have recently made changes to their positions in QS. Signaturefd LLC lifted its stake in QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after acquiring an additional 5,841 shares during the last quarter. Tsfg LLC lifted its position in shares of QuantumScape by 233.3% during the 3rd quarter. Tsfg LLC now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,400 shares during the last quarter. REAP Financial Group LLC grew its stake in shares of QuantumScape by 300.0% during the third quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,500 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after buying an additional 5,438 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.