QuantumScape Co. (NYSE:QS) Insider Mohit Singh Sells 97,305 Shares of Stock

QuantumScape Co. (NYSE:QS) insider Mohit Singh sold 97,305 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

QuantumScape Stock Down 3.1 %

QS stock opened at $5.95 on Friday. The firm has a 50-day moving average price of $5.18 and a 200-day moving average price of $5.64. QuantumScape Co. has a 12 month low of $4.65 and a 12 month high of $10.03. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $3.05 billion, a P/E ratio of -6.26 and a beta of 4.50.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the company earned ($0.23) EPS. As a group, equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in QuantumScape by 28.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after purchasing an additional 35,579 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of QuantumScape during the third quarter worth about $235,000. Barclays PLC increased its stake in shares of QuantumScape by 326.5% in the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after buying an additional 79,871 shares during the period. Geode Capital Management LLC raised its holdings in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares during the last quarter. Finally, M&T Bank Corp boosted its position in QuantumScape by 139.2% during the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock worth $265,000 after buying an additional 26,820 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. 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 restated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research started coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus target price of $6.26.

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.