QuantumScape (NYSE:QS) Insider Mohit Singh Sells 50,000 Shares

QuantumScape Corporation (NYSE:QS) insider Mohit Singh sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $7.87, for a total transaction of $393,500.00. Following the sale, the insider directly owned 1,803,035 shares in the company, valued at $14,189,885.45. This trade represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

QuantumScape Trading Up 2.6%

QS traded up $0.19 during trading on Friday, reaching $7.54. 17,509,521 shares of the stock traded hands, compared to its average volume of 15,882,679. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $4.64 billion, a PE ratio of -9.31 and a beta of 2.57. The stock’s 50-day moving average is $6.82 and its 200 day moving average is $9.93. QuantumScape Corporation has a 12 month low of $3.80 and a 12 month high of $19.07.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same quarter in the prior year, the firm posted ($0.21) EPS. Equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Trading of QuantumScape

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in shares of QuantumScape in the 1st quarter worth $321,000. NewEdge Advisors LLC lifted its holdings in shares of QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock worth $88,000 after purchasing an additional 7,111 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of QuantumScape by 41.4% in the 2nd quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock worth $211,000 after purchasing an additional 9,210 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after purchasing an additional 3,311 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on QS. TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and reduced their price objective for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a research report on Thursday, February 12th. Finally, Morgan Stanley reduced their target price on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $11.13.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.