QuantumScape Co. (NYSE:QS) Insider Sells $607,183.20 in Stock

QuantumScape Co. (NYSE:QS) insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

QuantumScape Trading Down 3.1 %

QS stock traded down $0.19 during midday trading on Friday, reaching $5.95. The company’s stock had a trading volume of 28,643,328 shares, compared to its average volume of 9,617,341. QuantumScape Co. has a 1 year low of $4.65 and a 1 year high of $10.03. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -6.26 and a beta of 4.50. The stock has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $5.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the firm earned ($0.23) EPS. On average, equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research report on Tuesday, November 19th. Finally, Wolfe Research initiated coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.26.

Institutional Trading of QuantumScape

A number of large investors have recently modified their holdings of the company. Sanctuary Advisors LLC raised its holdings in shares of QuantumScape by 28.2% in the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock valued at $930,000 after acquiring an additional 35,579 shares in the last quarter. Virtu Financial LLC purchased a new position in QuantumScape during the 3rd quarter valued at about $235,000. Barclays PLC raised its holdings in shares of QuantumScape by 326.5% in the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after purchasing an additional 79,871 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares during the period. Finally, M&T Bank Corp boosted its stake in shares of QuantumScape by 139.2% during the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after purchasing an additional 26,820 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.