QuantumScape Corporation (NYSE:QS) Director Sells $10,804,427.06 in Stock

Key Points

• Fritz Prinz, a director at QuantumScape Corporation, sold 929,813 shares of the company's stock on July 25th for a total of $10.8 million, reducing his ownership by 85.21%.
• QuantumScape's shares recently traded at $11.94, with a notable 12-month price range from $3.40 to $15.03.
• Analysts have mixed views on QuantumScape, with a consensus "hold" rating and an average price target of $5.90, reflecting varying predictions on the company's future performance.

QuantumScape Corporation (NYSE:QS - Get Free Report) Director Fritz Prinz sold 929,813 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $11.62, for a total value of $10,804,427.06. Following the completion of the transaction, the director owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. This represents a 85.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Fritz Prinz also recently made the following trade(s):

• On Friday, July 25th, Fritz Prinz sold 70,187 shares of QuantumScape stock. The stock was sold at an average price of $11.62, for a total transaction of $815,572.94.
• On Thursday, July 3rd, Fritz Prinz sold 864,708 shares of QuantumScape stock. The shares were sold at an average price of $7.02, for a total transaction of $6,070,250.16.
• On Thursday, May 22nd, Fritz Prinz sold 61,523 shares of QuantumScape stock. The stock was sold at an average price of $3.94, for a total value of $242,400.62.

QuantumScape Stock Performance

Shares of QS traded down $0.99 during mid-day trading on Monday, hitting $10.98. The stock had a trading volume of 57,037,023 shares, compared to its average volume of 64,930,040. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $15.03. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. The company has a market cap of $6.14 billion, a PE ratio of -12.77 and a beta of 4.42. The company's fifty day simple moving average is $6.80 and its two-hundred day simple moving average is $5.29.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same period in the previous year, the company posted ($0.25) earnings per share. On average, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on QS shares. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. The Goldman Sachs Group cut their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and reduced their target price for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, Robert W. Baird lifted their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $5.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QS. Raymond James Financial Inc. bought a new position in QuantumScape during the 4th quarter worth $1,527,000. Commonwealth Equity Services LLC grew its position in shares of QuantumScape by 9.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 481,916 shares of the company's stock worth $2,501,000 after acquiring an additional 41,712 shares during the last quarter. Xponance Inc. increased its holdings in shares of QuantumScape by 17.8% in the 4th quarter. Xponance Inc. now owns 15,862 shares of the company's stock worth $82,000 after acquiring an additional 2,400 shares during the period. American Century Companies Inc. lifted its position in QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock valued at $2,244,000 after purchasing an additional 396,160 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in QuantumScape during the 4th quarter valued at about $403,000. 29.87% of the stock is 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.