Mohit Singh Sells 50,000 Shares of QuantumScape (NYSE:QS) Stock

Key Points

• QuantumScape insider Mohit Singh sold 50,000 shares on May 6 at an average price of $7.87, totaling $393,500. After the sale, he still owned about 1.8 million shares.
• QS stock traded around $7.54 on Friday, with trading volume above its average. The shares remain well below their 52-week high of $19.07 and above their 52-week low of $3.80.
• Analysts are cautious on QuantumScape, with a consensus rating of “Reduce” and an average price target of $11.13. The company also recently reported a smaller-than-expected quarterly loss, beating EPS estimates by $0.02.

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Mohit Singh sold 50,000 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $7.87, for a total transaction of $393,500.00. Following the completion of the sale, the insider directly owned 1,803,035 shares in the company, valued at approximately $14,189,885.45. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

QuantumScape Stock Performance

QS traded up $0.19 during trading hours on Friday, reaching $7.54. The company's stock had a trading volume of 17,509,521 shares, compared to its average volume of 15,882,679. QuantumScape Corporation has a 52 week low of $3.80 and a 52 week high of $19.07. The company's 50-day moving average is $6.82 and its 200-day moving average is $9.93. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The firm has a market cap of $4.64 billion, a PE ratio of -9.31 and a beta of 2.57.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. During the same period in the prior year, the firm posted ($0.21) earnings per share. On average, equities analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current year.

Institutional Trading of QuantumScape

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of QuantumScape by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company's stock worth $426,793,000 after purchasing an additional 4,323,829 shares during the last quarter. Morgan Stanley boosted its holdings in QuantumScape by 333.5% in the fourth quarter. Morgan Stanley now owns 11,126,497 shares of the company's stock valued at $115,938,000 after acquiring an additional 8,559,554 shares during the last quarter. Geode Capital Management LLC boosted its holdings in QuantumScape by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 8,327,604 shares of the company's stock valued at $86,794,000 after acquiring an additional 1,189,748 shares during the last quarter. Renaissance Technologies LLC bought a new stake in QuantumScape in the fourth quarter valued at approximately $84,584,000. Finally, State Street Corp boosted its holdings in QuantumScape by 7.6% in the fourth quarter. State Street Corp now owns 7,500,503 shares of the company's stock valued at $78,155,000 after acquiring an additional 529,602 shares during the last quarter. Institutional investors own 29.87% of the company's stock.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price target on QuantumScape from $12.00 to $8.50 and set an "equal weight" rating on the stock in a research report on Wednesday, February 18th. TD Cowen reissued a "hold" rating on shares of QuantumScape in a research note on Wednesday, February 18th. HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and decreased their price objective for the company from $10.50 to $8.30 in a research note on Wednesday, February 18th. Finally, Robert W. Baird set a $12.00 price target on QuantumScape in a report on Thursday, February 12th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, QuantumScape has a consensus rating of "Reduce" and a consensus price target of $11.13.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company's core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape's product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.

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