QuantumScape Corporation (NYSE:QS – Get Free Report) shares fell 10.2% during trading on Friday following insider selling activity. The stock traded as low as $8.15 and last traded at $8.1570. 4,882,885 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 17,638,293 shares. The stock had previously closed at $9.08.
Specifically, CTO Timothy Holme sold 40,615 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $9.30, for a total transaction of $377,719.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 150,320 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $9.30, for a total value of $1,397,976.00. Following the sale, the chief technology officer directly owned 1,712,506 shares in the company, valued at approximately $15,926,305.80. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.
Analyst Ratings Changes
Several research firms recently weighed in on QS. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a research note on Thursday, February 12th. Morgan Stanley reduced their price objective on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Finally, HSBC raised 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. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $11.13.
QuantumScape Stock Down 9.7%
The stock has a market capitalization of $5.04 billion, a P/E ratio of -10.08 and a beta of 2.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock’s fifty day moving average is $7.45 and its two-hundred day moving average is $8.90.
QuantumScape (NYSE:QS – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. During the same period in the prior year, the firm posted ($0.21) earnings per share. As a group, research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.
Institutional Investors Weigh In On QuantumScape
A number of institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new stake in shares of QuantumScape during the first quarter valued at $321,000. NewEdge Advisors LLC increased its stake in QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock worth $88,000 after purchasing an additional 7,111 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in QuantumScape by 456.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after buying an additional 3,904,168 shares during the period. Prudential Financial Inc. raised its holdings in QuantumScape by 41.4% during the 2nd quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock worth $211,000 after buying an additional 9,210 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in QuantumScape by 685.5% during the second 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 in the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.
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.
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