QuantumScape (NYSE:QS) Stock Price Down 6.4% on Insider Selling

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) dropped 6.4% during trading on Wednesday following insider selling activity. The stock traded as low as $5.78 and last traded at $5.87. Approximately 4,374,119 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 9,601,979 shares. The stock had previously closed at $6.27.

Specifically, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the transaction, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the company's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares of the company's stock, valued at $1,966,567.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the transaction, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,970 shares of company stock worth $1,250,775. Corporate insiders own 10.18% of the company's stock.

Analysts Set New Price Targets

QS has been the subject of several research reports. William Blair initiated coverage on shares of QuantumScape in a research report on Monday, December 18th. They issued a "market perform" rating for the company. Truist Financial upped their target price on shares of QuantumScape from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Friday, February 16th. Finally, Robert W. Baird upped their target price on shares of QuantumScape from $5.00 to $8.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, QuantumScape currently has an average rating of "Hold" and an average target price of $6.71.

QuantumScape Trading Down 5.3 %

The firm's 50-day simple moving average is $6.36 and its 200-day simple moving average is $6.49. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.95 billion, a PE ratio of -6.19 and a beta of 4.76.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the company earned ($0.25) EPS. Equities analysts expect that QuantumScape Co. will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. bought a new position in QuantumScape in the second quarter worth about $39,000. Tower Research Capital LLC TRC raised its stake in QuantumScape by 49.6% in the third quarter. Tower Research Capital LLC TRC now owns 5,142 shares of the company's stock worth $34,000 after buying an additional 1,704 shares in the last quarter. Spire Wealth Management raised its stake in QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company's stock worth $35,000 after buying an additional 1,500 shares in the last quarter. Clear Street Markets LLC bought a new position in QuantumScape in the fourth quarter worth about $32,000. Finally, Canada Pension Plan Investment Board bought a new position in QuantumScape in the first quarter worth about $120,000. 29.87% of the stock is owned by 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.