QuantumScape Co. (NYSE:QS) CFO Kevin Hettrich Sells 58,000 Shares

QuantumScape Co. (NYSE:QS) CFO Kevin Hettrich sold 58,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Kevin Hettrich also recently made the following trade(s):

• On Monday, June 24th, Kevin Hettrich sold 3,300 shares of QuantumScape stock. The shares were sold at an average price of $5.01, for a total value of $16,533.00.

QuantumScape Trading Down 1.3 %

Shares of QS opened at $5.87 on Tuesday. QuantumScape Co. has a fifty-two week low of $4.67 and a fifty-two week high of $10.03. The business has a 50-day moving average of $6.34 and a 200 day moving average of $5.87. The firm has a market cap of $2.93 billion, a P/E ratio of -6.11 and a beta of 4.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the previous year, the firm posted ($0.26) EPS. As a group, research analysts forecast that QuantumScape Co. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial reissued a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QS. Mirae Asset Global Investments Co. Ltd. increased its position in shares of QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after buying an additional 3,004,964 shares during the period. Norges Bank bought a new stake in QuantumScape during the 4th quarter worth approximately $18,482,000. Vanguard Group Inc. lifted its stake in QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after purchasing an additional 796,723 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in QuantumScape in the 2nd quarter valued at $1,950,000. Finally, American Century Companies Inc. grew its position in shares of QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.