Jeffrey Straubel Sells 27,106 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) Director Jeffrey Straubel sold 27,106 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.85, for a total value of $212,782.10. Following the completion of the sale, the director owned 131,298 shares in the company, valued at approximately $1,030,689.30. This represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

QuantumScape Stock Down 6.9%

QuantumScape stock opened at $8.01 on Friday. QuantumScape Corporation has a 1-year low of $3.80 and a 1-year high of $19.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock has a market cap of $4.93 billion, a PE ratio of -9.89 and a beta of 2.57. The stock’s fifty day moving average is $6.98 and its two-hundred day moving average is $9.66.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same period last year, the firm earned ($0.21) earnings per share. On average, sell-side analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QS. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and cut their price target for the company from $10.50 to $8.30 in a research note on Wednesday, February 18th. Morgan Stanley cut their target price on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Finally, Robert W. Baird set a $12.00 target price on QuantumScape in a research report on Thursday, February 12th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $11.13.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in QuantumScape in the 3rd quarter valued at about $33,962,000. Vanguard Group Inc. increased its position in QuantumScape by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock valued at $451,346,000 after acquiring an additional 422,378 shares during the period. Exchange Traded Concepts LLC acquired a new position in QuantumScape in the 4th quarter valued at about $4,475,000. State of New Jersey Common Pension Fund D acquired a new position in QuantumScape in the 3rd quarter valued at about $3,330,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in QuantumScape in the 3rd quarter valued at about $2,222,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.