QuantumScape (NYSE:QS) CFO Sells $110,642.00 in Stock

QuantumScape Corporation (NYSE:QS) CFO Kevin Hettrich sold 9,800 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $11.29, for a total value of $110,642.00. Following the completion of the transaction, the chief financial officer owned 1,502,238 shares in the company, valued at approximately $16,960,267.02. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, October 1st, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $13.94, for a total value of $136,612.00.
• On Friday, September 12th, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The stock was sold at an average price of $9.20, for a total value of $90,160.00.

QuantumScape Stock Performance

Shares of QuantumScape stock traded up $0.06 during trading hours on Tuesday, reaching $11.89. 13,299,013 shares of the stock traded hands, compared to its average volume of 36,567,968. QuantumScape Corporation has a one year low of $3.40 and a one year high of $19.07. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of -14.67 and a beta of 4.83. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $14.55 and a 200 day moving average price of $9.88.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on QS shares. Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. Hsbc Global Res raised QuantumScape to a “moderate sell” rating in a research note on Wednesday, November 19th. HSBC downgraded shares of QuantumScape from a “hold” rating to a “reduce” rating and increased their price target for the company from $5.30 to $10.50 in a report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, TD Cowen lifted their target price on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $8.81.

Institutional Trading of QuantumScape

Hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in QuantumScape by 456.5% in 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 period. Man Group plc purchased a new stake in QuantumScape in the 3rd quarter worth $44,421,000. Vanguard Group Inc. increased its holdings in QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after acquiring an additional 2,911,362 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in QuantumScape during the third quarter worth $33,962,000. Finally, BNP Paribas Financial Markets lifted its holdings in QuantumScape by 2,036.7% during the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock valued at $16,483,000 after purchasing an additional 2,338,038 shares in the last quarter. 29.87% of the stock is 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.