QuantumScape (NYSE:QS) Shares Down 0.8% After Insider Selling

QuantumScape Co. (NYSE:QS) dropped 0.8% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $4.65 and last traded at $4.70. Approximately 2,766,546 shares were traded during trading, a decline of 69% from the average daily volume of 8,821,836 shares. The stock had previously closed at $4.74.

Specifically, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the transaction, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

QS has been the topic of several research reports. Wolfe Research initiated coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Truist Financial restated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report 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 company. According to MarketBeat, QuantumScape has a consensus rating of “Hold” and an average target price of $6.14.

QuantumScape Trading Down 0.2 %

The firm’s 50 day moving average price is $5.47 and its 200-day moving average price is $5.76. 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 stock has a market cap of $2.42 billion, a P/E ratio of -4.98 and a beta of 4.60.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the company earned ($0.23) earnings per share. As a group, equities research analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of QuantumScape during the 2nd quarter valued at $1,950,000. Sanctuary Advisors LLC purchased a new position in shares of QuantumScape in the 2nd quarter worth $680,000. Swiss National Bank grew its holdings in shares of QuantumScape by 9.3% in the first quarter. Swiss National Bank now owns 678,800 shares of the company’s stock worth $4,270,000 after acquiring an additional 58,000 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in QuantumScape during the second quarter valued at $644,000. 29.87% of the stock is owned by institutional investors.

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.