QuantumScape Co. (NYSE:QS) Director Sells $27,710.31 in Stock

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 5,531 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Jagdeep Singh also recently made the following trade(s):

• On Monday, October 7th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10.
• On Tuesday, September 17th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30.

QuantumScape Price Performance

NYSE:QS traded down $0.11 during mid-day trading on Friday, hitting $4.74. 8,750,364 shares of the company’s stock traded hands, compared to its average volume of 8,848,734. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $2.43 billion, a PE ratio of -5.06 and a beta of 4.60. QuantumScape Co. has a 1 year low of $4.67 and a 1 year high of $10.03. The firm’s 50 day simple moving average is $5.50 and its 200 day simple moving average is $5.76.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the business posted ($0.23) earnings per share. Sell-side analysts expect that QuantumScape Co. will post -0.97 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on QS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and a consensus price target of $6.14.

Institutional Trading of QuantumScape

Several hedge funds have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC purchased a new position in QuantumScape during the 3rd quarter valued at about $150,000. XTX Topco Ltd bought a new position in QuantumScape in the 3rd quarter valued at $464,000. Weiss Asset Management LP bought a new position in QuantumScape during the 3rd quarter worth approximately $828,000. State Street Corp raised its holdings in shares of QuantumScape by 1.5% during the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after acquiring an additional 87,563 shares during the period. Finally, Stifel Financial Corp boosted its stake in QuantumScape by 59.5% in the 3rd quarter. Stifel Financial Corp now owns 135,317 shares of the company’s stock worth $778,000 after purchasing an additional 50,462 shares during the period. 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.