QuantumScape (NYSE:QS) Trading Down 0.6% on Insider Selling

Shares of QuantumScape Co. (NYSE:QS) were down 0.6% on Friday following insider selling activity. The company traded as low as $4.77 and last traded at $4.82. Approximately 2,227,799 shares were traded during trading, a decline of 75% from the average daily volume of 8,819,386 shares. The stock had previously closed at $4.85.

Specifically, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

QS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Truist Financial reaffirmed 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. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, QuantumScape has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Stock Performance

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 quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $2.43 billion, a P/E ratio of -4.99 and a beta of 4.60.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after buying an additional 656,646 shares during the period. State Street Corp increased its position in 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. Geode Capital Management LLC raised its stake in QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after purchasing an additional 93,826 shares during the period. Finally, Janus Henderson Group PLC grew its position in QuantumScape by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after purchasing an additional 25,347 shares during the last quarter. 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.