Insider Selling: QuantumScape (NYSE:QS) Director Sells 157,171 Shares of Stock

Key Points

• QuantumScape Director Jeffrey Straubel sold 157,171 shares at an average price of $13.94, resulting in a total transaction value of approximately $2.19 million, and a 32.87% decrease in his ownership stake.
• The company's stock has experienced significant volatility, trading between a 12-month low of $3.40 and a high of $16.49, with a recent trading price of $15.91.
• Recent analyst ratings for QuantumScape show a mixed outlook, with the average target price set at $5.88 and some analysts advocating for a "sell" rating.

QuantumScape Corporation (NYSE:QS - Get Free Report) Director Jeffrey Straubel sold 157,171 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total value of $2,190,963.74. Following the transaction, the director directly owned 321,040 shares of the company's stock, valued at approximately $4,475,297.60. This trade represents a 32.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

QuantumScape Stock Performance

NYSE QS traded up $1.61 on Friday, hitting $15.91. 76,229,660 shares of the stock traded hands, compared to its average volume of 48,564,152. The business's fifty day moving average is $9.81 and its two-hundred day moving average is $6.94. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $16.49. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -18.50 and a beta of 4.85. 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 (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million during the quarter. During the same period in the prior year, the firm earned ($0.25) earnings per share. As a group, equities analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in QS. Wedmont Private Capital purchased a new stake in shares of QuantumScape in the first quarter worth $103,000. Optas LLC purchased a new stake in shares of QuantumScape in the first quarter worth $63,000. Sowell Financial Services LLC purchased a new stake in shares of QuantumScape in the first quarter worth $58,000. Cornerstone Wealth Management LLC purchased a new stake in shares of QuantumScape in the first quarter worth $55,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of QuantumScape by 362.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after buying an additional 297,097 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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