QuantumScape Co. (NYSE:QS) Insider Sells $607,183.20 in Stock

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

QuantumScape Stock Down 3.1 %

NYSE:QS opened at $5.95 on Friday. The firm has a market capitalization of $3.05 billion, a P/E ratio of -6.26 and a beta of 4.50. The company’s fifty day moving average price is $5.18 and its 200-day moving average price is $5.64. QuantumScape Co. has a 1-year low of $4.65 and a 1-year high of $10.03. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) earnings per share. As a group, equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Hedge Funds Weigh In On QuantumScape

Large investors have recently made changes to their positions in the company. Signaturefd LLC grew its holdings in QuantumScape by 79.9% in the third 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. Farther Finance Advisors LLC grew its stake in QuantumScape by 32.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock valued at $78,000 after acquiring an additional 3,310 shares during the period. The Manufacturers Life Insurance Company grew its stake in QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock valued at $413,000 after acquiring an additional 3,527 shares during the period. International Assets Investment Management LLC increased its holdings in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after acquiring an additional 4,228 shares in the last quarter. Finally, Arizona State Retirement System raised its position in QuantumScape by 4.6% during the second quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock worth $486,000 after acquiring an additional 4,330 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. 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 set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. 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. Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.