Insider Selling: QuantumScape Co. (NYSE:QS) CFO Sells 58,000 Shares of Stock

QuantumScape Co. (NYSE:QS) CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at approximately $6,202,067.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, June 24th, Kevin Hettrich sold 3,300 shares of QuantumScape stock. The shares were sold at an average price of $5.01, for a total value of $16,533.00.

QuantumScape Stock Up 2.2 %

NYSE QS opened at $6.01 on Wednesday. QuantumScape Co. has a 12 month low of $4.67 and a 12 month high of $10.03. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.00 billion, a PE ratio of -6.26 and a beta of 4.59. The stock’s 50 day moving average is $6.36 and its 200 day moving average is $5.87.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the previous year, the firm earned ($0.26) EPS. Research analysts predict that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. 180 Wealth Advisors LLC increased its stake in QuantumScape by 2.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock worth $392,000 after acquiring an additional 2,059 shares during the last quarter. Amalgamated Bank increased its position in QuantumScape by 5.6% in the fourth quarter. Amalgamated Bank now owns 45,784 shares of the company’s stock worth $318,000 after purchasing an additional 2,432 shares during the last quarter. CWM LLC raised its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares in the last quarter. Carson Advisory Inc. lifted its position in QuantumScape by 13.6% during the first quarter. Carson Advisory Inc. now owns 24,250 shares of the company’s stock valued at $153,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in QuantumScape by 7.8% during the fourth quarter. Private Advisor Group LLC now owns 46,326 shares of the company’s stock valued at $322,000 after purchasing an additional 3,340 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QS. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research initiated coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.53.

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.