QuantumScape (NYSE:QS) Shares Down 0.6% Following Insider Selling

QuantumScape Co. (NYSE:QS) shares dropped 0.6% on Friday following insider selling activity. The company traded as low as $4.77 and last traded at $4.82. Approximately 2,227,799 shares traded hands during trading, a decline of 75% from the average daily volume of 8,819,386 shares. The stock had previously closed at $4.85.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on QS. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.14.

QuantumScape Stock Performance

The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -4.99 and a beta of 4.60. The firm’s 50 day simple moving average is $5.49 and its 200 day simple moving average is $5.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the business earned ($0.23) earnings per share. Sell-side analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the period. CWM LLC lifted its position in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after buying an additional 2,556 shares in the last quarter. Mather Group LLC. acquired a new stake in QuantumScape in the 2nd quarter valued at $36,000. Finally, Alaska Wealth Advisors purchased a new stake in QuantumScape in the 2nd quarter worth $49,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.