Insider Selling: QuantumScape (NYSE:QS) Director Sells 157,171 Shares of Stock

QuantumScape Corporation (NYSE:QS) Director Jeffrey Straubel sold 157,171 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total value of $2,190,963.74. Following the completion of the transaction, the director owned 321,040 shares of the company’s stock, valued at approximately $4,475,297.60. The trade was a 32.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

QuantumScape Trading Up 11.3%

QS opened at $15.91 on Friday. The stock has a market cap of $9.01 billion, a PE ratio of -18.50 and a beta of 4.85. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $9.81 and a 200-day moving average of $6.95. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $16.49.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $36.67 million during the quarter. During the same period in the previous year, the firm posted ($0.25) EPS. Equities research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on QS shares. Robert W. Baird raised their price objective on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a research report on Saturday, September 27th. Finally, TD Cowen raised QuantumScape to a “hold” rating in a research report on Monday, July 7th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.88.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC increased its holdings in shares of QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after purchasing an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after purchasing an additional 3,311 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after purchasing an additional 5,438 shares in the last quarter. Hollencrest Capital Management increased its holdings in shares of QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares in the last quarter. Finally, North Capital Inc. bought a new stake in shares of QuantumScape in the 2nd quarter worth $27,000. Institutional investors own 29.87% of the company’s stock.

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.