QuantumScape (NYSE:QS) Stock Price Down 8.4% on Insider Selling

QuantumScape Co. (NYSE:QS)’s stock price fell 8.4% during mid-day trading on Monday following insider selling activity. The stock traded as low as $5.44 and last traded at $5.45. 8,369,073 shares changed hands during trading, a decline of 13% from the average session volume of 9,607,406 shares. The stock had previously closed at $5.95.

Specifically, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reissued a “hold” rating and issued 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 research note on Tuesday, September 10th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Finally, Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Trading Down 7.7 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $2.81 billion, a PE ratio of -5.78 and a beta of 4.50. The stock has a fifty day moving average of $5.18 and a 200-day moving average of $5.64.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the firm earned ($0.23) EPS. Sell-side analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of QS. Canada Pension Plan Investment Board acquired a new position in QuantumScape during the second quarter valued at $1,950,000. American Century Companies Inc. increased its holdings in shares of QuantumScape by 880.6% in the second 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 during the last quarter. Geode Capital Management LLC raised its stake in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares during the period. Weiss Asset Management LP purchased a new stake in QuantumScape in the third quarter valued at $828,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after acquiring an additional 133,000 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.