Mohit Singh Sells 97,305 Shares of QuantumScape Co. (NYSE:QS) Stock

QuantumScape Co. (NYSE:QS) insider Mohit Singh sold 97,305 shares of the stock in a transaction 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 sale, the insider now owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

QuantumScape Trading Down 3.1 %

QS opened at $5.95 on Friday. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $5.18 and its two-hundred day moving average is $5.64. The company has a market capitalization of $3.05 billion, a P/E ratio of -6.26 and a beta of 4.50. QuantumScape Co. has a 52 week low of $4.65 and a 52 week high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted 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 valued at $776,000 after acquiring an additional 133,000 shares in the last quarter. Geode Capital Management LLC boosted its position in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in QuantumScape in the second quarter valued at about $1,950,000. Weiss Asset Management LP bought a new position in QuantumScape in the third quarter worth about $828,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of QuantumScape during the second quarter valued at about $680,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QS. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, QuantumScape currently has an average rating of “Hold” and an average price target of $6.26.

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.