QuantumScape (NYSE:QS) Trading Down 0.6% on Insider Selling

Shares of QuantumScape Co. (NYSE:QS) dropped 0.6% during trading on Friday after an insider sold shares in the company. The company traded as low as $4.77 and last traded at $4.82. Approximately 2,227,799 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 8,819,386 shares. The stock had previously closed at $4.85.

Specifically, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

QS has been the topic of several analyst reports. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously 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 issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.14.

QuantumScape Price Performance

The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -4.99 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $5.49 and its 200-day simple moving average is $5.76.

QuantumScape (NYSE:QS) last issued its quarterly earnings data 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 period last year, the company posted ($0.23) earnings per share. On average, research analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the period. M&T Bank Corp boosted its holdings in QuantumScape by 139.2% in the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock worth $265,000 after acquiring an additional 26,820 shares in the last quarter. Barclays PLC grew its stake in QuantumScape by 326.5% in the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after acquiring an additional 79,871 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in QuantumScape in the third quarter valued at approximately $150,000. Finally, XTX Topco Ltd bought a new stake in shares of QuantumScape during the third quarter valued at approximately $464,000. 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.