QuantumScape Corporation (NYSE:QS) Insider Sells $1,728,400.00 in Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Mohit Singh sold 290,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $5.96, for a total transaction of $1,728,400.00. Following the completion of the sale, the insider now owns 1,641,711 shares in the company, valued at $9,784,597.56. This represents a 15.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Mohit Singh also recently made the following trade(s):

• On Thursday, June 26th, Mohit Singh sold 325,000 shares of QuantumScape stock. The stock was sold at an average price of $7.21, for a total value of $2,343,250.00.
• On Monday, May 19th, Mohit Singh sold 71,428 shares of QuantumScape stock. The shares were sold at an average price of $4.41, for a total value of $314,997.48.

QuantumScape Trading Down 13.5%

Shares of NYSE QS traded down $1.04 during mid-day trading on Friday, reaching $6.62. 108,278,027 shares of the company's stock were exchanged, compared to its average volume of 13,667,419. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $9.52. The company's 50-day moving average is $4.22 and its 200-day moving average is $4.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period in the prior year, the firm posted ($0.24) EPS. As a group, analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock worth $19,799,000 after purchasing an additional 3,904,168 shares during the last quarter. Norges Bank purchased a new position in QuantumScape during the 4th quarter worth $17,762,000. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 9.0% during the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock worth $147,064,000 after buying an additional 2,911,362 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of QuantumScape by 55.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after purchasing an additional 2,066,844 shares during the last quarter. Finally, Nuveen LLC acquired a new position in QuantumScape in the 1st quarter valued at $2,819,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on QS shares. Robert W. Baird lowered their price target 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. The Goldman Sachs Group reduced their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research note on Monday, April 28th. Finally, UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, QuantumScape has an average rating of "Hold" and a consensus target price of $5.19.

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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