Insider Selling: QuantumScape Co. (NYSE:QS) Insider Sells 97,305 Shares of Stock

QuantumScape Co. (NYSE:QS) insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares in the company, valued at $6,814,204.80. This represents a 8.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

QuantumScape Stock Down 3.1 %

Shares of QS stock opened at $5.95 on Monday. The stock has a 50 day moving average of $5.18 and a 200-day moving average of $5.64. The firm has a market cap of $3.05 billion, a PE ratio of -6.26 and a beta of 4.50. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a 12 month low of $4.65 and a 12 month high of $10.03.

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

Wall Street Analysts Forecast Growth

QS has been the subject of a number of analyst reports. 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 target price on shares of QuantumScape in a report on Tuesday, September 10th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a report on Tuesday, November 19th. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.26.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC raised its stake in shares of QuantumScape by 475.1% in the 3rd 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 in the last quarter. Atom Investors LP bought a new position in shares of QuantumScape during the 3rd quarter worth about $60,000. Centaurus Financial Inc. acquired a new stake in shares of QuantumScape during the 2nd quarter valued at about $52,000. Finally, Nwam LLC acquired a new stake in shares of QuantumScape during the 3rd quarter valued at about $64,000. 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.