QuantumScape Corporation (NYSE:QS) Insider Mohit Singh Sells 325,000 Shares

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 owned 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 shares were 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 shares were sold at an average price of $4.41, for a total value of $314,997.48.

QuantumScape Stock Performance

NYSE:QS traded up $0.13 during trading hours on Monday, reaching $6.75. 50,975,728 shares of the stock were exchanged, compared to its average volume of 16,476,643. The stock has a market capitalization of $3.77 billion, a P/E ratio of -7.42 and a beta of 4.28. The firm has a 50 day simple moving average of $4.28 and a 200-day simple moving average of $4.63. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $9.52.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data 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 period in the previous year, the company posted ($0.24) earnings per share. As a group, sell-side analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QuantumScape

Large investors have recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in QuantumScape during the 4th quarter valued at $26,000. Raiffeisen Bank International AG acquired a new stake in QuantumScape during the 4th quarter worth about $29,000. Signaturefd LLC lifted its stake in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after buying an additional 5,841 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after buying an additional 5,438 shares during the period. Finally, Hollencrest Capital Management increased its position in shares of QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QS. UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their price target for the company from $5.00 to $2.50 in a report on Thursday, April 10th. Robert W. Baird lowered their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group cut their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $5.19.

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.