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

QuantumScape Co. (NYSE:QS)’s stock price dropped 0.8% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $4.65 and last traded at $4.70. Approximately 2,766,546 shares were traded during trading, a decline of 69% from the average daily volume of 8,821,836 shares. The stock had previously closed at $4.74.

Specifically, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial reissued a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Stock Down 0.2 %

The stock has a market capitalization of $2.42 billion, a P/E ratio of -4.95 and a beta of 4.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm has a 50-day simple moving average of $5.49 and a 200 day simple moving average of $5.76.

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 analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the company posted ($0.23) EPS. On average, equities research analysts forecast that QuantumScape Co. will post -0.97 EPS for the current year.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently modified their holdings of the business. Signaturefd LLC increased 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. International Assets Investment Management LLC grew its position 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 during the last quarter. CWM LLC increased its stake in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after buying an additional 2,556 shares during the period. Mather Group LLC. acquired a new position in shares of QuantumScape in the second quarter worth approximately $36,000. Finally, Alaska Wealth Advisors bought a new stake in QuantumScape in the second quarter valued at approximately $49,000. Institutional investors own 29.87% of the company’s stock.

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.