Insider Selling: QuantumScape Corporation (NYSE:QS) Insider Sells $2,343,250.00 in Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Mohit Singh sold 325,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.21, for a total value of $2,343,250.00. Following the transaction, the insider now owns 1,641,711 shares in the company, valued at $11,836,736.31. This trade represents a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mohit Singh also recently made the following trade(s):

• On Wednesday, June 25th, Mohit Singh sold 290,000 shares of QuantumScape stock. The stock was sold at an average price of $5.96, for a total transaction of $1,728,400.00.
• On Monday, May 19th, Mohit Singh sold 71,428 shares of QuantumScape stock. The stock was sold at an average price of $4.41, for a total transaction of $314,997.48.

QuantumScape Price Performance

QS traded down $1.04 during trading on Friday, hitting $6.62. 108,278,027 shares of the company's stock were exchanged, compared to its average volume of 13,667,419. The stock has a 50 day moving average price of $4.22 and a 200 day moving average price of $4.62. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the prior year, the firm earned ($0.24) earnings per share. Sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group cut their price target on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, Robert W. Baird reduced 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. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.19.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of QS. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape during the fourth quarter valued at approximately $1,275,000. Raymond James Financial Inc. acquired a new stake in QuantumScape during the 4th quarter valued at $1,527,000. Charles Schwab Investment Management Inc. increased its stake in QuantumScape by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock worth $12,103,000 after buying an additional 104,894 shares during the period. Vanguard Group Inc. increased its stake in QuantumScape by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock worth $168,367,000 after buying an additional 956,072 shares during the period. Finally, American Century Companies Inc. lifted its holdings in QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock worth $2,244,000 after buying an additional 396,160 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

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.

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