QuantumScape (NYSE:QS) Trading Down 1.1% After Insider Selling

QuantumScape Co. (NYSE:QS)’s stock price was down 1.1% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $5.04 and last traded at $5.08. Approximately 2,687,002 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 16,469,477 shares. The stock had previously closed at $5.13.

Specifically, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $5.06, for a total transaction of $186,961.94. Following the transaction, the chief financial officer now owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

QS has been the subject of a number of research analyst reports. Truist Financial reissued a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, 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, November 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

The stock’s 50-day moving average is $5.29 and its 200 day moving average is $5.66. 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 firm has a market cap of $2.65 billion, a P/E ratio of -5.45 and a beta of 4.46.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 worth $776,000 after acquiring an additional 133,000 shares during the last quarter. Geode Capital Management LLC grew its position in QuantumScape by 3.9% in 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. Weiss Asset Management LP acquired a new stake in QuantumScape in the 3rd quarter valued at $828,000. Sanctuary Advisors LLC bought a new stake in QuantumScape during the 2nd quarter worth about $680,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of QuantumScape during the 2nd quarter worth about $644,000. 29.87% of the stock is currently 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.