QuantumScape Co. (NYSE:QS) Director Sells $65,056.32 in Stock

QuantumScape Co. (NYSE:QS) Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now owns 241,195 shares in the company, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

QuantumScape Stock Performance

QS stock traded up $0.12 during trading on Friday, hitting $5.16. The company had a trading volume of 10,582,433 shares, compared to its average volume of 8,866,104. QuantumScape Co. has a 1-year low of $4.65 and a 1-year high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $5.43 and a 200-day moving average price of $5.74. The firm has a market cap of $2.64 billion, a PE ratio of -5.36 and a beta of 4.60.

QuantumScape (NYSE:QS) last announced 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 posted ($0.23) EPS. On average, analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after buying an additional 133,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in QuantumScape in the second quarter valued at $1,950,000. Sanctuary Advisors LLC purchased a new stake in QuantumScape during the second quarter valued at about $680,000. Susquehanna Fundamental Investments LLC acquired a new position in QuantumScape during the second quarter valued at approximately $644,000. Finally, American Century Companies Inc. boosted its position in QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after purchasing an additional 316,361 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QS has been the topic of several research analyst reports. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday. Truist Financial reiterated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.26.

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.