QuantumScape (NYSE:QS) Director Jeffrey Straubel Sells 157,171 Shares of Stock

QuantumScape Corporation (NYSE:QS) Director Jeffrey Straubel sold 157,171 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $16.93, for a total transaction of $2,660,905.03. Following the sale, the director owned 293,934 shares of the company’s stock, valued at $4,976,302.62. This represents a 34.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

QuantumScape Stock Up 4.2%

Shares of NYSE QS traded up $0.67 during mid-day trading on Friday, reaching $16.57. The company had a trading volume of 33,141,800 shares, compared to its average volume of 46,437,280. The firm has a 50 day simple moving average of $13.46 and a two-hundred day simple moving average of $9.02. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.96 billion, a P/E ratio of -20.46 and a beta of 4.83.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same period in the previous year, the business posted ($0.23) earnings per share. Sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. raised its position in QuantumScape by 0.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock worth $1,488,000 after buying an additional 810 shares during the last quarter. Wedmont Private Capital increased its stake in shares of QuantumScape by 5.7% during the third quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock worth $186,000 after acquiring an additional 815 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in QuantumScape by 67.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after purchasing an additional 1,005 shares in the last quarter. CWM LLC lifted its position in QuantumScape by 69.1% in the third quarter. CWM LLC now owns 2,625 shares of the company’s stock valued at $32,000 after purchasing an additional 1,073 shares during the period. Finally, Maryland State Retirement & Pension System lifted its position in QuantumScape by 6.0% in the third quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock valued at $257,000 after purchasing an additional 1,173 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on QS shares. TD Cowen upped their target price on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. Cowen reiterated a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Robert W. Baird lifted their target price on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a research report on Thursday, October 23rd. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, QuantumScape presently has an average rating of “Reduce” and an average price target of $7.66.

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.