Kevin Hettrich Sells 9,800 Shares of QuantumScape (NYSE:QS) Stock

Key Points

• Kevin Hettrich, CFO of QuantumScape, sold 9,800 shares of the company's stock at an average price of $9.20, totaling $90,160, resulting in a 0.61% decrease in his ownership.
• QuantumScape's stock has recently declined by 1.9% and is currently trading at $10.16, with a significant trading volume of over 41 million shares.
• Research firms have boosted QuantumScape’s target price to $11.00 with a consensus rating of "Reduce," indicating mixed opinions on the stock's future performance.

QuantumScape Corporation (NYSE:QS - Get Free Report) CFO Kevin Hettrich sold 9,800 shares of QuantumScape stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $9.20, for a total value of $90,160.00. Following the completion of the transaction, the chief financial officer directly owned 1,601,267 shares of the company's stock, valued at approximately $14,731,656.40. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

QuantumScape Stock Down 1.9%

QuantumScape stock traded down $0.20 during trading on Tuesday, reaching $10.16. The stock had a trading volume of 41,271,346 shares, compared to its average volume of 23,307,146. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $15.03. The business has a 50 day moving average price of $9.39 and a 200 day moving average price of $6.14. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share 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 firm posted ($0.25) EPS. On average, research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QS. Robert W. Baird boosted their target price on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $5.88.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in 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 during the period. Russell Investments Group Ltd. raised its holdings in shares of QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after purchasing an additional 3,311 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of QuantumScape in the 4th quarter worth about $26,000. Federated Hermes Inc. raised its holdings in shares of QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares during the period. Finally, Hollencrest Capital Management raised its holdings in shares of QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after purchasing an additional 5,000 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.

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