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

QuantumScape Co. (NYSE:QS)’s share price dropped 0.8% during mid-day trading on Monday following insider selling activity. The stock 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 dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial reissued a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Up 4.5 %

The company has a 50 day moving average of $5.46 and a 200-day moving average of $5.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company has a market cap of $2.53 billion, a P/E ratio of -5.21 and a beta of 4.60.

QuantumScape (NYSE:QS) last posted its quarterly earnings data 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 period in the prior year, the company posted ($0.23) EPS. On average, equities analysts predict that QuantumScape Co. will post -0.97 earnings per share for the current year.

Institutional Trading of QuantumScape

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its stake in QuantumScape by 326.5% in the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after buying an additional 79,871 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 during the last quarter. M&T Bank Corp boosted its stake in shares of QuantumScape by 139.2% in the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after purchasing an additional 26,820 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of QuantumScape during the 3rd quarter valued at $150,000. Finally, XTX Topco Ltd purchased a new position in QuantumScape in the 3rd quarter worth $464,000. 29.87% of the stock is owned by 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.