Insider Selling: QuantumScape (NYSE:QS) Director Sells 157,180 Shares of Stock

Key Points

• QuantumScape Director Jeffrey Straubel sold 157,180 shares at an average price of $9.20, amounting to over $1.44 million, which represents a 31.10% decrease in his ownership position.
• The company's shares had a trading volume of over 41 million, with a current price of $10.16, up from a twelve-month low of $3.40.
• Analysts have given QuantumScape a consensus rating of "Reduce" with a target price of $5.88, despite some recent upgrades from various firms.

QuantumScape Corporation (NYSE:QS - Get Free Report) Director Jeffrey Straubel sold 157,180 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $9.20, for a total value of $1,446,056.00. Following the completion of the sale, the director directly owned 348,146 shares of the company's stock, valued at approximately $3,202,943.20. This represents a 31.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

QuantumScape Stock Performance

Shares of NYSE:QS traded down $0.20 during midday trading on Tuesday, hitting $10.16. The company had a trading volume of 41,271,346 shares, compared to its average volume of 23,307,146. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $15.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The business's 50-day simple moving average is $9.39 and its 200-day simple moving average is $6.14.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million for the quarter. During the same period last year, the business posted ($0.25) earnings per share. Analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen raised 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 stock a "neutral" rating in a research note on Thursday, July 24th. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, QuantumScape currently has a consensus rating of "Reduce" and a consensus price target of $5.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. boosted its holdings in QuantumScape by 8.5% in the second quarter. Baird Financial Group Inc. now owns 18,575 shares of the company's stock valued at $125,000 after purchasing an additional 1,450 shares during the period. PNC Financial Services Group Inc. lifted its holdings in QuantumScape by 54.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock worth $37,000 after buying an additional 1,963 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of QuantumScape by 12.9% during the 2nd quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company's stock worth $147,000 after acquiring an additional 2,495 shares in the last quarter. Birchcreek Wealth Management LLC boosted its position in shares of QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock worth $105,000 after acquiring an additional 2,600 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of QuantumScape by 13.7% during the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock worth $98,000 after acquiring an additional 2,838 shares in the last quarter. 29.87% of the stock is currently 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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