QuantumScape (NYSE:QS) Stock Price Down 0.8% on Insider Selling

QuantumScape Co. (NYSE:QS) shares dropped 0.8% during mid-day trading on Monday following insider selling activity. The company traded as low as $4.65 and last traded at $4.70. Approximately 2,766,546 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 8,821,836 shares. The stock had previously closed at $4.74.

Specifically, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the transaction, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QS shares. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Wolfe Research started coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Trading Down 0.2 %

The firm’s 50-day simple moving average is $5.47 and its 200-day simple moving average is $5.76. The firm has a market capitalization of $2.42 billion, a PE ratio of -4.98 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the firm posted ($0.23) earnings per share. Equities analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current year.

Institutional Trading of QuantumScape

Several large investors have recently modified their holdings of QS. Vanguard Group Inc. lifted its position in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares during the period. Canada Pension Plan Investment Board purchased a new stake in QuantumScape in the second quarter worth about $1,950,000. American Century Companies Inc. boosted its position in 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 acquiring an additional 316,361 shares in the last quarter. Geode Capital Management LLC raised its position in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of QuantumScape in the 1st quarter valued at approximately $1,002,000. 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.