QuantumScape Co. (NYSE:QS) Director Jagdeep Singh Sells 192,270 Shares

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.53, for a total value of $1,063,253.10. Following the completion of the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Jagdeep Singh also recently made the following trade(s):

• On Tuesday, September 17th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30.
• On Monday, August 12th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The shares were sold at an average price of $5.50, for a total transaction of $1,057,485.00.

QuantumScape Price Performance

Shares of NYSE QS remained flat at $5.48 during mid-day trading on Wednesday. 3,726,612 shares of the stock were exchanged, compared to its average volume of 8,417,392. QuantumScape Co. has a 52 week low of $4.67 and a 52 week high of $10.03. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $5.77 and a 200 day moving average of $5.85. The stock has a market cap of $2.73 billion, a PE ratio of -5.70 and a beta of 4.58.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the company earned ($0.26) EPS. On average, sell-side analysts predict that QuantumScape Co. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently made changes to their positions in QS. KBC Group NV raised its position in shares of QuantumScape by 34.7% during the fourth quarter. KBC Group NV now owns 25,593 shares of the company’s stock valued at $178,000 after buying an additional 6,588 shares during the last quarter. Board of Trustees of The Leland Stanford Junior University grew its position in QuantumScape by 5.2% in the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock worth $18,144,000 after acquiring an additional 129,239 shares in the last quarter. HarbourVest Partners LLC lifted its stake in shares of QuantumScape by 10.4% in the 4th quarter. HarbourVest Partners LLC now owns 78,903 shares of the company’s stock valued at $548,000 after purchasing an additional 7,404 shares during the last quarter. Clarity Capital Partners LLC bought a new position in QuantumScape during the fourth quarter valued at $374,000. Finally, Vanguard Group Inc. raised its position 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 during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. Finally, Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.14.

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.