QuantumScape (NYSE:QS) Stock Price Down 1.3% After Insider Selling

QuantumScape Co. (NYSE:QS) was down 1.3% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $5.09 and last traded at $5.15. Approximately 2,242,868 shares changed hands during trading, a decline of 72% from the average daily volume of 8,151,726 shares. The stock had previously closed at $5.22.

Specifically, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the sale, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the sale, the insider now owns 1,207,500 shares of the company’s stock, valued at $6,906,900. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jagdeep Singh sold 192,280 shares of QuantumScape stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $5.85, for a total value of $1,124,838.00. Following the completion of the sale, the director now directly owns 2,809,253 shares in the company, valued at approximately $16,434,130.05. The disclosure for this sale can be found here. Insiders have sold 487,559 shares of company stock valued at $2,752,186 in the last 90 days. 10.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on QS shares. UBS Group lowered their target price on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Truist Financial lowered their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.67.

QuantumScape Price Performance

The firm has a market cap of $2.54 billion, a P/E ratio of -5.30 and a beta of 4.69. The business has a fifty day moving average of $5.65 and a 200 day moving average of $6.38. The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). On average, sell-side analysts anticipate that QuantumScape Co. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in shares of QuantumScape by 97.7% during the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock worth $703,000 after acquiring an additional 51,934 shares during the period. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of QuantumScape by 34.5% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock valued at $77,000 after buying an additional 2,861 shares during the period. Victory Capital Management Inc. boosted its stake in shares of QuantumScape by 26.4% in the fourth quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock valued at $304,000 after buying an additional 9,135 shares during the period. Scotia Capital Inc. bought a new stake in shares of QuantumScape in the third quarter valued at approximately $95,000. Finally, HBK Sorce Advisory LLC boosted its stake in shares of QuantumScape by 11.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock valued at $150,000 after buying an additional 2,264 shares during the period. Institutional investors 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.