Insider Selling: QuantumScape (NYSE:QS) Insider Sells 220,000 Shares of Stock

Key Points

• QuantumScape insider Mohit Singh sold 220,000 shares at an average price of $15.09, reducing his ownership by 13.41% and retaining approximately 1.42 million shares valued at $21.43 million.
• The company's stock price fell by 4.3% on October 24th, trading at $15.59, despite analysts predicting a potential EPS loss of -$0.82 for the current fiscal year.
• Institutional investors now hold 29.87% of QuantumScape's stock, with several hedge funds significantly increasing their stakes over recent quarters.

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Mohit Singh sold 220,000 shares of the business's stock in a transaction on Friday, October 24th. The shares were sold at an average price of $15.09, for a total transaction of $3,319,800.00. Following the sale, the insider directly owned 1,420,054 shares in the company, valued at approximately $21,428,614.86. This trade represents a 13.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

QuantumScape Stock Down 4.3%

Shares of NYSE QS traded down $0.69 during mid-day trading on Tuesday, reaching $15.59. The company had a trading volume of 57,676,955 shares, compared to its average volume of 55,407,976. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.40 and a current ratio of 21.14. The stock has a market capitalization of $8.82 billion, a PE ratio of -19.24 and a beta of 4.85. The stock's 50 day moving average is $12.12 and its 200-day moving average is $8.35.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.18). The business had revenue of ($36.67) million during the quarter. During the same period in the previous year, the company earned ($0.23) EPS. As a group, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its holdings in shares of QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after buying an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after purchasing an additional 3,311 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after purchasing an additional 5,438 shares during the last quarter. Hollencrest Capital Management grew its stake in shares of QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Finally, North Capital Inc. bought a new stake in shares of QuantumScape during the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 29.87% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on QS shares. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a "hold" rating in a report on Thursday, October 23rd. Robert W. Baird upped their price target on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of QuantumScape in a research note on Wednesday, October 8th. Finally, TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Seven analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $6.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.