Kevin Hettrich Sells 9,800 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) CFO Kevin Hettrich sold 9,800 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $6.20, for a total value of $60,760.00. Following the transaction, the chief financial officer directly owned 1,357,918 shares in the company, valued at approximately $8,419,091.60. This represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Hettrich also recently made the following trade(s):

• On Monday, February 23rd, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $6.76, for a total value of $66,248.00.
• On Wednesday, January 14th, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $10.59, for a total value of $103,782.00.

QuantumScape Price Performance

Shares of QS stock remained flat at $6.36 on Friday. The stock had a trading volume of 9,584,429 shares, compared to its average volume of 13,464,662. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $19.07. The company has a market capitalization of $3.90 billion, a PE ratio of -7.85 and a beta of 2.54. The firm’s 50 day moving average price is $7.52 and its 200 day moving average price is $11.11.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted ($0.22) earnings per share. On average, research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in QuantumScape during the third quarter valued at approximately $33,962,000. Vanguard Group Inc. increased its stake in QuantumScape by 1.2% in the third quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock valued at $451,346,000 after purchasing an additional 422,378 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in QuantumScape in the fourth quarter worth $4,475,000. State of New Jersey Common Pension Fund D bought a new position in shares of QuantumScape during the third quarter worth $3,330,000. Finally, Norges Bank bought a new position in shares of QuantumScape during the second quarter worth $2,272,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QS has been the subject of several analyst reports. TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a research note on Thursday, February 12th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and lowered their target price for the stock from $10.50 to $8.30 in a report on Wednesday, February 18th. Finally, Morgan Stanley cut their price target on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, QuantumScape currently has an average rating of “Reduce” and an average target price of $8.98.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.