QuantumScape (NYSE:QS) Shares Down 6.1% on Insider Selling

Shares of QuantumScape Corporation (NYSE:QS) were down 6.1% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $11.67 and last traded at $11.6940. Approximately 27,029,780 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 29,386,602 shares. The stock had previously closed at $12.46.

Specifically, CTO Timothy Holme sold 44,923 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total transaction of $561,986.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Timothy Holme sold 201,785 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $12.51, for a total value of $2,524,330.35. Following the completion of the transaction, the chief technology officer owned 1,251,383 shares in the company, valued at $15,654,801.33. This represents a 13.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analyst Weigh In

A number of research analysts recently commented on QS shares. HSBC downgraded shares of QuantumScape from a “hold” rating to a “reduce” rating and boosted their price objective for the company from $5.30 to $10.50 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, TD Cowen upped their target price on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Six analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, QuantumScape currently has an average rating of “Reduce” and an average price target of $8.31.

QuantumScape Stock Performance

The stock has a market cap of $7.03 billion, a P/E ratio of -14.44 and a beta of 4.83. The firm has a 50 day moving average of $14.40 and a two-hundred day moving average of $9.62. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). During the same period last year, the business earned ($0.23) EPS. On average, research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Institutional Trading of QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of QS. VSM Wealth Advisory LLC raised its position in shares of QuantumScape by 46.8% during the third quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock valued at $29,000 after buying an additional 750 shares during the last quarter. Vontobel Holding Ltd. increased its stake in QuantumScape by 0.7% during the third quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock valued at $1,488,000 after acquiring an additional 810 shares during the period. Wedmont Private Capital raised its holdings in QuantumScape by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock valued at $186,000 after acquiring an additional 815 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of QuantumScape by 8.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock worth $153,000 after acquiring an additional 939 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of QuantumScape by 67.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after purchasing an additional 1,005 shares in the last quarter. 29.87% of the stock is currently 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.