Fritz Prinz Sells 929,813 Shares of QuantumScape Corporation (NYSE:QS) 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 stock in a transaction dated 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 sale, the director owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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 stock was 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 transaction of $242,400.62.

QuantumScape Stock Performance

Shares of QuantumScape stock traded down $0.70 on Friday, hitting $11.94. 57,572,051 shares of the company traded hands, compared to its average volume of 67,467,776. The firm's 50-day simple moving average is $6.51 and its 200 day simple moving average is $5.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $15.03.

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

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of the business. Atria Wealth Solutions Inc. lifted its position in shares of QuantumScape by 131.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 93,581 shares of the company's stock worth $657,000 after purchasing an additional 53,200 shares during the period. KLP Kapitalforvaltning AS raised its stake in QuantumScape by 12.2% in the second quarter. KLP Kapitalforvaltning AS now owns 87,200 shares of the company's stock worth $586,000 after buying an additional 9,500 shares in the last quarter. 111 Capital bought a new position in QuantumScape in the second quarter worth about $131,000. SWP Financial LLC purchased a new stake in QuantumScape in the second quarter worth about $67,000. Finally, GC Wealth Management RIA LLC bought a new stake in QuantumScape during the 2nd quarter valued at approximately $297,000. Hedge funds and other institutional investors own 29.87% of the company's stock.

Analyst Upgrades and Downgrades

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

QuantumScape Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.