QuantumScape (NYSE:QS) Shares Down 1.1% on Insider Selling

Shares of QuantumScape Co. (NYSE:QSGet Free Report) traded down 1.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $5.04 and last traded at $5.08. 2,687,002 shares were traded during mid-day trading, a decline of 84% from the average session volume of 16,469,477 shares. The stock had previously closed at $5.13.

Specifically, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

Several brokerages recently commented on QS. 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 report on Friday, October 25th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Finally, Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.26.

View Our Latest Stock Report on QS

QuantumScape Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -5.45 and a beta of 4.46. The business’s 50 day simple moving average is $5.29 and its 200-day simple moving average is $5.66.

Institutional Trading of QuantumScape

A number of institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of QuantumScape by 36.0% during the 2nd quarter. Hsbc Holdings PLC now owns 16,737 shares of the company’s stock worth $82,000 after purchasing an additional 4,433 shares in the last quarter. Sei Investments Co. raised its position in QuantumScape by 80.8% during the second quarter. Sei Investments Co. now owns 20,533 shares of the company’s stock valued at $101,000 after acquiring an additional 9,176 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in QuantumScape by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock valued at $413,000 after acquiring an additional 3,527 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in QuantumScape in the second quarter valued at approximately $644,000. Finally, Algert Global LLC bought a new stake in QuantumScape in the second quarter worth approximately $175,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Company Profile

(Get Free Report)

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.

Further Reading

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