QuantumScape (NYSE:QS) Trading Down 10.1% Following Insider Selling

QuantumScape Corporation (NYSE:QS) dropped 10.1% on Monday following insider selling activity. The company traded as low as $16.80 and last traded at $16.5690. Approximately 13,414,662 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 29,033,270 shares. The stock had previously closed at $18.44.

Specifically, insider Michael O. Mccarthy III sold 50,000 shares of QuantumScape stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $15.78, for a total transaction of $789,000.00. Following the completion of the transaction, the insider owned 1,376,118 shares of the company’s stock, valued at $21,715,142.04. The trade was a 3.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss sold 300,000 shares of QuantumScape stock in a transaction on Friday, October 31st. The stock was sold at an average price of $17.98, for a total value of $5,394,000.00. Following the transaction, the director directly owned 122,476 shares of the company’s stock, valued at $2,202,118.48. This trade represents a 71.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other news, Director Fritz Prinz sold 980,878 shares of QuantumScape stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.49, for a total transaction of $15,193,800.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

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

QuantumScape Trading Down 9.9%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The stock has a market cap of $10.00 billion, a PE ratio of -20.56 and a beta of 4.83. The business has a 50-day moving average of $12.64 and a 200 day moving average of $8.66.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of ($36.67) million during the quarter. During the same period last year, the business earned ($0.23) EPS. Equities research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Institutional Trading of QuantumScape

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock valued at $25,000 after buying an additional 5,841 shares during the period. Russell Investments Group Ltd. grew its holdings in QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the period. Federated Hermes Inc. lifted its stake in shares of QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after purchasing an additional 5,438 shares in the last quarter. Hollencrest Capital Management lifted its stake in shares of QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Finally, North Capital Inc. acquired a new position in shares of QuantumScape in the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.