QuantumScape (NYSE:QS) Shares Down 0.8% After Insider Selling

Shares of QuantumScape Co. (NYSE:QS) fell 0.8% during trading on Monday following insider selling activity. The stock traded as low as $4.65 and last traded at $4.70. 2,766,546 shares were traded during mid-day trading, a decline of 69% from the average session volume of 8,821,836 shares. The stock had previously closed at $4.74.

Specifically, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

Several analysts have issued reports on QS shares. Wolfe Research initiated coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Truist Financial restated 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.14.

QuantumScape Stock Down 0.2 %

The company has a market cap of $2.42 billion, a price-to-earnings ratio of -4.95 and a beta of 4.60. The firm has a 50-day moving average price of $5.49 and a 200 day moving average price of $5.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

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

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its stake in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares during the period. CWM LLC grew its position in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new position in QuantumScape during the 2nd quarter worth $36,000. Finally, Alaska Wealth Advisors acquired a new position in QuantumScape in the 2nd quarter valued at $49,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.