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

QuantumScape Co. (NYSE:QS) was down 8.4% during trading on Monday following insider selling activity. The company traded as low as $5.44 and last traded at $5.45. Approximately 8,369,073 shares changed hands during trading, a decline of 13% from the average daily volume of 9,607,406 shares. The stock had previously closed at $5.95.

Specifically, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QS shares. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research note on Tuesday, November 19th. Finally, Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Down 8.6 %

The company has a fifty day moving average price of $5.18 and a 200 day moving average price of $5.64. The company has a market cap of $2.79 billion, a PE ratio of -5.73 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the company earned ($0.23) EPS. As a group, analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in QuantumScape by 6,650.0% during 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. Geode Capital Management LLC increased its stake in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after buying an additional 218,743 shares during the period. Canada Pension Plan Investment Board bought a new stake in QuantumScape during the 2nd quarter valued at $1,950,000. Weiss Asset Management LP bought a new stake in QuantumScape in the 3rd quarter worth $828,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of QuantumScape in the second quarter valued at about $680,000. Hedge funds and other institutional investors 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.