Brad Buss Sells 300,000 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) Director Brad Buss sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.98, for a total transaction of $5,394,000.00. Following the sale, the director owned 122,476 shares of the company’s stock, valued at approximately $2,202,118.48. This represents a 71.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

QuantumScape Stock Performance

QS stock opened at $18.40 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.40 and a current ratio of 21.14. The stock has a market cap of $10.42 billion, a P/E ratio of -22.72 and a beta of 4.85. The firm has a 50 day simple moving average of $12.64 and a 200 day simple moving average of $8.62. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $19.07.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of ($36.67) million for the quarter. During the same period in the prior year, the company posted ($0.23) EPS. Research analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Trading of QuantumScape

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC lifted its stake in QuantumScape by 18.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 23,015 shares of the company’s stock valued at $284,000 after acquiring an additional 3,551 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of QuantumScape in the third quarter worth $241,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of QuantumScape by 69.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 59,089 shares of the company’s stock worth $728,000 after buying an additional 24,208 shares during the last quarter. Archvest Wealth Advisors Inc. acquired a new stake in shares of QuantumScape in the third quarter worth $290,000. Finally, Maryland State Retirement & Pension System lifted its stake in shares of QuantumScape by 6.0% in the third quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock worth $257,000 after buying an additional 1,173 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Robert W. Baird raised their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. TD Cowen raised their price target on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the company a “hold” rating in a research note on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of QuantumScape in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $7.66.

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.