Insider Selling: QuantumScape Co. (NYSE:QS) Director Sells 5,531 Shares of Stock

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 5,531 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, October 7th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The shares were 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 transaction of $1,151,697.30.

QuantumScape Trading Down 2.3 %

NYSE QS opened at $4.74 on Friday. QuantumScape Co. has a 52 week low of $4.67 and a 52 week high of $10.03. The company has a 50 day moving average price of $5.49 and a 200 day moving average price of $5.76. 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 firm has a market cap of $2.43 billion, a PE ratio of -4.99 and a beta of 4.60.

QuantumScape (NYSE:QS) last issued its quarterly 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 business earned ($0.23) earnings per share. As a group, sell-side analysts forecast that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on QS. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Truist Financial reaffirmed 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. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, QuantumScape currently has an average rating of “Hold” and an average price target of $6.14.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in 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 purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the period. CWM LLC raised its stake in QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares during the last quarter. Mather Group LLC. acquired a new stake in QuantumScape during the 2nd quarter worth about $36,000. Finally, Alaska Wealth Advisors purchased a new stake in QuantumScape during the 2nd quarter valued at about $49,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.