QuantumScape (NYSE:QS) Trading Down 2.9% on Insider Selling

Shares of QuantumScape Co. (NYSE:QS) traded down 2.9% on Friday after an insider sold shares in the company. The stock traded as low as $5.77 and last traded at $5.96. 18,743,122 shares changed hands during trading, an increase of 96% from the average session volume of 9,572,858 shares. The stock had previously closed at $6.14.

Specifically, insider Mohit Singh sold 97,305 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Trading Down 3.1 %

The stock has a market cap of $3.05 billion, a P/E ratio of -6.26 and a beta of 4.50. The firm’s fifty day moving average price is $5.18 and its two-hundred day moving average price is $5.64. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the firm earned ($0.23) earnings per share. As a group, equities research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Hedge Funds Weigh In On QuantumScape

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