Insider Selling: QuantumScape (NYSE:QS) CFO Sells 9,800 Shares of Stock

QuantumScape Corporation (NYSE:QS) CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $11.29, for a total transaction of $110,642.00. Following the sale, the chief financial officer owned 1,502,238 shares in the company, valued at approximately $16,960,267.02. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kevin Hettrich also recently made the following trade(s):

• On Wednesday, October 1st, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $13.94, for a total value of $136,612.00.
• On Friday, September 12th, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The stock was sold at an average price of $9.20, for a total transaction of $90,160.00.

QuantumScape Stock Performance

Shares of NYSE QS traded up $0.06 during trading hours on Tuesday, reaching $11.89. The stock had a trading volume of 13,299,013 shares, compared to its average volume of 36,567,968. The firm has a 50-day moving average of $14.55 and a 200-day moving average of $9.88. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -14.67 and a beta of 4.83. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $19.07.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). During the same period last year, the firm posted ($0.23) earnings per share. Equities research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. HSBC cut QuantumScape from a “hold” rating to a “reduce” rating and upped their price target for the stock from $5.30 to $10.50 in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Evercore ISI reiterated an “in-line” rating and set a $12.00 target price (up previously from $8.00) on shares of QuantumScape in a research report on Monday. Hsbc Global Res upgraded QuantumScape to a “moderate sell” rating in a research report on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Reduce” and a consensus price target of $8.81.

Institutional Trading of QuantumScape

A number of large investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 valued at $19,799,000 after purchasing an additional 3,904,168 shares during the last quarter. Man Group plc acquired a new position in shares of QuantumScape in the third quarter valued at approximately $44,421,000. Vanguard Group Inc. lifted its stake in shares of QuantumScape by 9.0% during the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock valued at $147,064,000 after buying an additional 2,911,362 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in QuantumScape during the third quarter worth approximately $33,962,000. Finally, BNP Paribas Financial Markets grew its stake in QuantumScape by 2,036.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock worth $16,483,000 after acquiring an additional 2,338,038 shares during the period. Institutional investors and hedge funds 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.