QuantumScape (NYSE:QS) Stock Price Down 11.9% Following Insider Selling

QuantumScape Corporation (NYSE:QS) traded down 11.9% during mid-day trading on Monday following insider selling activity. The company traded as low as $15.88 and last traded at $16.2520. 44,912,958 shares were traded during trading, an increase of 54% from the average session volume of 29,207,828 shares. The stock had previously closed at $18.44.

Specifically, insider Michael O. Mccarthy III sold 50,000 shares of QuantumScape stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $15.78, for a total transaction of $789,000.00. Following the transaction, the insider directly owned 1,376,118 shares of the company’s stock, valued at approximately $21,715,142.04. The trade was a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brad W. Buss sold 300,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $17.98, for a total value of $5,394,000.00. Following the completion of the transaction, the director directly owned 122,476 shares in the company, valued at $2,202,118.48. This represents a 71.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In related news, Director Fritz Prinz sold 980,878 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $15.49, for a total transaction of $15,193,800.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several brokerages recently commented on QS. Robert W. Baird upped their target price on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Cowen restated a “hold” rating on shares of QuantumScape in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. 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. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the company a “hold” rating in a research report on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $7.66.

QuantumScape Trading Down 11.9%

The business has a 50 day moving average of $12.64 and a two-hundred day moving average of $8.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of -20.06 and a beta of 4.83.

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

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of QuantumScape by 456.5% in the first 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 during the last quarter. Vanguard Group Inc. raised its stake in shares of QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after purchasing an additional 2,911,362 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of QuantumScape by 2,036.7% in the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock worth $16,483,000 after purchasing an additional 2,338,038 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of QuantumScape by 1,005.2% in the second quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company’s stock worth $13,323,000 after purchasing an additional 1,803,196 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of QuantumScape by 148.0% in the second quarter. Bank of America Corp DE now owns 2,803,989 shares of the company’s stock worth $18,843,000 after purchasing an additional 1,673,472 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.