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

QuantumScape Co. (NYSE:QS) insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly 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 at this link.

QuantumScape Stock Performance

QuantumScape stock opened at $5.95 on Monday. QuantumScape Co. has a fifty-two week low of $4.65 and a fifty-two week high of $10.03. The firm’s 50 day simple moving average is $5.18 and its 200-day simple moving average 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. The company has a market cap of $3.05 billion, a P/E ratio of -6.26 and a beta of 4.50.

QuantumScape (NYSE:QS) last posted its quarterly earnings data 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 period in the previous year, the firm posted ($0.23) EPS. As a group, equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Signaturefd LLC increased its stake in QuantumScape by 79.9% in 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 during the period. International Assets Investment Management LLC raised its holdings 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. Centaurus Financial Inc. acquired a new stake in QuantumScape during the second quarter valued at $52,000. Financial Advocates Investment Management purchased a new position in QuantumScape in the second quarter valued at about $58,000. Finally, Atom Investors LP acquired a new position in QuantumScape in the 3rd quarter worth about $60,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QS has been the topic of several research reports. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. Truist Financial restated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research began coverage on QuantumScape in a report 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 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.26.

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.