QuantumScape (NYSE:QS) Director Sells $212,782.10 in Stock

QuantumScape Corporation (NYSE:QS) Director Jeffrey Straubel sold 27,106 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.85, for a total value of $212,782.10. Following the completion of the transaction, the director directly owned 131,298 shares in the company, valued at $1,030,689.30. This trade represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

QuantumScape Price Performance

Shares of QS opened at $8.01 on Friday. The firm has a market cap of $4.93 billion, a PE ratio of -9.89 and a beta of 2.57. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $6.98 and a two-hundred day simple moving average of $9.66. QuantumScape Corporation has a 1-year low of $3.80 and a 1-year high of $19.07.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same quarter in the previous year, the business earned ($0.21) EPS. On average, equities analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of QuantumScape in the 3rd quarter worth $33,962,000. Vanguard Group Inc. increased its stake in QuantumScape by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock worth $451,346,000 after buying an additional 422,378 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in QuantumScape in the 4th quarter worth $4,475,000. State of New Jersey Common Pension Fund D purchased a new stake in QuantumScape in the 3rd quarter worth $3,330,000. Finally, Cookson Peirce & Co. Inc. purchased a new stake in QuantumScape in the 3rd quarter worth $2,222,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QS has been the subject of a number of research reports. TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Robert W. Baird set a $12.00 target price on shares of QuantumScape in a research note on Thursday, February 12th. Morgan Stanley reduced their price objective on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and reduced their price objective for the stock from $10.50 to $8.30 in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, QuantumScape has a consensus rating of “Reduce” and an average target price of $11.13.

QuantumScape Company Profile

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.