QuantumScape (NYSE:QS) Shares Down 2.3% Following Insider Selling

QuantumScape Corporation (NYSE:QS) was down 2.3% during trading on Friday following insider selling activity. The company traded as low as $10.56 and last traded at $11.45. Approximately 31,866,960 shares were traded during trading, an increase of 8% from the average daily volume of 29,399,803 shares. The stock had previously closed at $11.72.

Specifically, CTO Timothy Holme sold 44,923 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total value of $561,986.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Timothy Holme sold 201,785 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total transaction of $2,524,330.35. Following the transaction, the chief technology officer owned 1,251,383 shares of the company’s stock, valued at approximately $15,654,801.33. The trade was a 13.89% decrease in their position. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QS. Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a research report on Thursday, October 23rd. HSBC lowered QuantumScape from a “hold” rating to a “reduce” rating and lifted their price objective for the stock from $5.30 to $10.50 in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Finally, Hsbc Global Res raised shares of QuantumScape to a “moderate sell” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, QuantumScape has a consensus rating of “Reduce” and an average target price of $8.31.

QuantumScape Price Performance

The business’s 50-day moving average is $14.45 and its two-hundred day moving average is $9.64. The company has a market capitalization of $6.88 billion, a P/E ratio of -14.14 and a beta of 4.83. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same period in the previous year, the company earned ($0.23) EPS. As a group, analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in QuantumScape by 1.2% in the third quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock valued at $451,346,000 after purchasing an additional 422,378 shares during the last quarter. Geode Capital Management LLC grew its position in QuantumScape by 12.5% during the second quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company’s stock worth $46,475,000 after buying an additional 768,070 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Two Sigma Investments LP increased its position in shares of QuantumScape by 150.1% in the third quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock worth $44,725,000 after purchasing an additional 2,178,918 shares during the last quarter. Finally, Man Group plc purchased a new stake in QuantumScape in the third quarter valued at approximately $44,421,000. 29.87% of the stock is owned by institutional investors.

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.