Fritz Prinz Sells 864,708 Shares of QuantumScape Corporation (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) Director Fritz Prinz sold 864,708 shares of QuantumScape stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $7.02, for a total transaction of $6,070,250.16. Following the completion of the transaction, the director directly owned 81,364 shares in the company, valued at approximately $571,175.28. The trade was a 91.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Fritz Prinz also recently made the following trade(s):

• On Thursday, May 22nd, Fritz Prinz sold 61,523 shares of QuantumScape stock. The stock was sold at an average price of $3.94, for a total value of $242,400.62.

QuantumScape Stock Performance

Shares of QuantumScape stock traded up $0.13 on Friday, reaching $9.22. 55,418,253 shares of the stock were exchanged, compared to its average volume of 14,723,787. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $9.77. The business has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $4.80. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of -10.13 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter last year, the business posted ($0.24) EPS. Analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its holdings in QuantumScape by 362.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after acquiring an additional 297,097 shares during the period. Raymond James Financial Inc. purchased a new stake in QuantumScape in the 4th quarter worth approximately $1,527,000. Charles Schwab Investment Management Inc. grew its stake in shares of QuantumScape by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock worth $12,103,000 after purchasing an additional 104,894 shares during the period. Vanguard Group Inc. increased its holdings in shares of QuantumScape by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock valued at $168,367,000 after purchasing an additional 956,072 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock valued at $2,244,000 after purchasing an additional 396,160 shares during the period. Institutional investors and hedge funds own 29.87% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Robert W. Baird cut their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday. Finally, The Goldman Sachs Group dropped their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $5.19.

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.