QuantumScape Co. (NYSE:QS) Director Jagdeep Singh Sells 192,270 Shares

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at $15,517,592.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Jagdeep Singh also recently made the following trade(s):

• On Monday, August 12th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.50, for a total transaction of $1,057,485.00.
• On Friday, July 5th, Jagdeep Singh sold 79,006 shares of QuantumScape stock. The stock was sold at an average price of $5.03, for a total value of $397,400.18.
• On Monday, July 8th, Jagdeep Singh sold 113,264 shares of QuantumScape stock. The shares were sold at an average price of $5.04, for a total value of $570,850.56.

QuantumScape Price Performance

Shares of QS traded up $0.14 during mid-day trading on Thursday, hitting $5.94. 4,171,782 shares of the company were exchanged, compared to its average volume of 8,681,223. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -6.18 and a beta of 4.59. QuantumScape Co. has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a 50 day moving average of $6.36 and a 200-day moving average of $5.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter last year, the business earned ($0.26) earnings per share. Analysts expect that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QS. 180 Wealth Advisors LLC lifted its position in QuantumScape by 2.7% during the second quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock worth $392,000 after buying an additional 2,059 shares in the last quarter. Amalgamated Bank boosted its position in shares of QuantumScape by 5.6% during the 4th quarter. Amalgamated Bank now owns 45,784 shares of the company’s stock valued at $318,000 after acquiring an additional 2,432 shares during the last quarter. CWM LLC increased its position in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after purchasing an additional 2,556 shares during the last quarter. Carson Advisory Inc. raised its stake in QuantumScape by 13.6% during the first quarter. Carson Advisory Inc. now owns 24,250 shares of the company’s stock worth $153,000 after purchasing an additional 2,900 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in QuantumScape by 7.8% in the 4th 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. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Finally, Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, QuantumScape currently has an average rating of “Hold” and a consensus target price of $5.95.

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.