Insider Selling: QuantumScape Co. (NYSE:QS) Director Sells $1,632,914.10 in Stock

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the sale, the director now directly owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Jagdeep Singh also recently made the following trade(s):

• On Thursday, November 14th, Jagdeep Singh sold 5,531 shares of QuantumScape stock. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31.
• On Monday, October 7th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.53, for a total value of $1,063,253.10.
• On Tuesday, September 17th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30.

QuantumScape Price Performance

QS opened at $4.93 on Friday. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $10.03. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -5.18 and a beta of 4.50. The company has a fifty day simple moving average of $5.23 and a 200 day simple moving average of $5.68.

QuantumScape (NYSE:QS) last announced its earnings results 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 last year, the firm earned ($0.23) earnings per share. Equities research analysts expect that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently made changes to their positions in QS. 180 Wealth Advisors LLC raised its stake in QuantumScape by 2.7% during the second quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock valued at $392,000 after buying an additional 2,059 shares in the last quarter. Signaturefd LLC raised its position in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares in the last quarter. CWM LLC lifted its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after purchasing an additional 2,556 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in QuantumScape by 32.4% in the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after purchasing an additional 3,310 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in QuantumScape by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock valued at $413,000 after purchasing an additional 3,527 shares during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

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.