QuantumScape Co. (NYSE:QS) Insider Mohit Singh Sells 71,428 Shares

QuantumScape Co. (NYSE:QS) insider Mohit Singh sold 71,428 shares of QuantumScape stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $4.41, for a total transaction of $314,997.48. Following the completion of the transaction, the insider now owns 1,640,998 shares of the company’s stock, valued at $7,236,801.18. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

QuantumScape Stock Up 0.8%

Shares of QS opened at $4.00 on Wednesday. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -4.26 and a beta of 4.38. QuantumScape Co. has a 52 week low of $3.40 and a 52 week high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The business’s fifty day moving average price is $4.07 and its two-hundred day moving average price is $4.74.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter last year, the company posted ($0.24) earnings per share. On average, analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on QS shares. UBS Group cut QuantumScape from a “neutral” rating to a “sell” rating and dropped their price target for the company from $5.00 to $2.50 in a report on Thursday, April 10th. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Truist Financial lowered their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 14th. The Goldman Sachs Group reduced their price target on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a research report on Monday, April 28th. Finally, Evercore ISI reissued a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.19.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ieq Capital LLC grew its position in shares of QuantumScape by 2.6% during the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after buying an additional 2,200 shares during the period. Handelsbanken Fonder AB raised its position in shares of QuantumScape by 2.0% in the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock valued at $595,000 after acquiring an additional 2,300 shares during the period. Xponance Inc. grew its holdings in QuantumScape by 17.8% during the fourth quarter. Xponance Inc. now owns 15,862 shares of the company’s stock valued at $82,000 after purchasing an additional 2,400 shares during the period. Arizona State Retirement System grew its holdings in QuantumScape by 2.3% during the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock valued at $578,000 after purchasing an additional 2,483 shares during the period. Finally, Birchcreek Wealth Management LLC increased its stake in QuantumScape by 11.5% in the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock valued at $105,000 after purchasing an additional 2,600 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.