QuantumScape (NYSE:QS) Trading Down 10.1% Following Insider Selling

Shares of QuantumScape Corporation (NYSE:QS) fell 10.1% during trading on Monday following insider selling activity. The stock traded as low as $16.80 and last traded at $16.5690. 13,414,662 shares were traded during trading, a decline of 54% from the average session volume of 29,033,270 shares. The stock had previously closed at $18.44.

Specifically, insider Michael O. Mccarthy III sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $15.78, for a total value of $789,000.00. Following the transaction, the insider directly owned 1,376,118 shares in the company, valued at $21,715,142.04. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brad W. Buss sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.98, for a total transaction of $5,394,000.00. Following the transaction, the director owned 122,476 shares in the company, valued at approximately $2,202,118.48. This trade represents a 71.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, Director Fritz Prinz sold 980,878 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $15.49, for a total transaction of $15,193,800.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

QS has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. TD Cowen raised their target price on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday. Robert W. Baird raised their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Cowen restated a “hold” rating on shares of QuantumScape in a research report on Thursday. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $7.66.

QuantumScape Trading Down 9.9%

The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $12.64 and a two-hundred day moving average of $8.66. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of -20.56 and a beta of 4.83.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of ($36.67) million for the quarter. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC lifted its holdings in QuantumScape by 18.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 23,015 shares of the company’s stock valued at $284,000 after acquiring an additional 3,551 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in QuantumScape in the third quarter valued at $241,000. Wealth Enhancement Advisory Services LLC lifted its holdings in QuantumScape by 69.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 59,089 shares of the company’s stock valued at $728,000 after acquiring an additional 24,208 shares during the period. Archvest Wealth Advisors Inc. acquired a new stake in QuantumScape in the third quarter valued at $290,000. Finally, Maryland State Retirement & Pension System lifted its holdings in QuantumScape by 6.0% in the third quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock valued at $257,000 after acquiring an additional 1,173 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.