Insider Selling: QuantumScape (NYSE:QS) CFO Sells 9,800 Shares of Stock

Key Points

• QuantumScape's CFO, Kevin Hettrich, sold 9,800 shares of the company's stock at an average price of $13.94, totaling $136,612, reducing his ownership by 0.61% to approximately 1.59 million shares.
• The company reported a quarterly earnings per share of ($0.20), meeting analysts' expectations, with projected earnings of ($0.82) for the current fiscal year.
• QuantumScape's shares recently traded at $15.91, with a market capitalization of approximately $9.01 billion and various analysts giving it an average rating of "Reduce".

QuantumScape Corporation (NYSE:QS - Get Free Report) CFO Kevin Hettrich sold 9,800 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total value of $136,612.00. Following the completion of the transaction, the chief financial officer directly owned 1,591,467 shares of the company's stock, valued at approximately $22,185,049.98. This trade represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kevin Hettrich also recently made the following trade(s):

• On Friday, September 12th, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $9.20, for a total value of $90,160.00.

QuantumScape Price Performance

Shares of QuantumScape stock traded up $1.61 on Friday, hitting $15.91. The company's stock had a trading volume of 76,229,660 shares, compared to its average volume of 48,564,152. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $16.49. The firm has a fifty day moving average price of $9.81 and a 200-day moving average price of $6.94. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of -18.50 and a beta of 4.85.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate 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) EPS. As a group, sell-side analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on QS shares. TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Robert W. Baird raised their target price on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of QuantumScape in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $5.88.

Institutional Trading of QuantumScape

A number of institutional investors have recently bought and sold shares of the business. Wedmont Private Capital purchased a new stake in shares of QuantumScape in the 1st quarter valued at about $103,000. Optas LLC purchased a new stake in shares of QuantumScape in the 1st quarter valued at about $63,000. Sowell Financial Services LLC purchased a new stake in QuantumScape during the 1st quarter valued at approximately $58,000. Cornerstone Wealth Management LLC acquired a new position in QuantumScape during the 1st quarter worth approximately $55,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after purchasing an additional 297,097 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.

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