QuantumScape Corporation (NYSE:QS) Short Interest Update

Key Points

• QuantumScape experienced a significant 25.6% decline in short interest during July, decreasing from 67.36 million shares to 50.13 million shares, with about 9.4% of its shares currently sold short.
• Insider sales have been notable, with insider Mohit Singh selling 465,000 shares for approximately $3.82 million and insider Michael O. Mccarthy III selling 500,000 shares for about $5.80 million, both resulting in significant reductions in their overall stakes in the company.
• Institutional investors have shown increased interest, with firms like Signaturefd LLC raising their positions by over 2,000% during the first quarter, as hedge funds now own approximately 29.87% of QuantumScape's stock.

QuantumScape Corporation (NYSE:QS - Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 50,130,000 shares, adeclineof25.6% from the July 15th total of 67,360,000 shares. Based on an average daily trading volume, of 41,010,000 shares, the short-interest ratio is currently 1.2 days. Approximately9.4% of the company's shares are sold short. Approximately9.4% of the company's shares are sold short. Based on an average daily trading volume, of 41,010,000 shares, the short-interest ratio is currently 1.2 days.

Insider Buying and Selling

In related news, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the sale, the insider owned 1,641,711 shares in the company, valued at $13,478,447.31. This represents a 22.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 500,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the sale, the insider owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. The trade was a 25.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,956,517 shares of company stock worth $34,977,013. Corporate insiders own 5.48% of the company's stock.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its position in shares of QuantumScape by 2,086.1% in 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 in the last quarter. Russell Investments Group Ltd. raised its position in shares of QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after buying an additional 3,311 shares in the last quarter. Heck Capital Advisors LLC bought a new position in QuantumScape in the fourth quarter valued at $26,000. Federated Hermes Inc. increased its stake in QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after acquiring an additional 5,438 shares during the last quarter. Finally, Hollencrest Capital Management increased its stake in QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Stock Performance

Shares of NYSE:QS traded down $0.0270 during trading on Thursday, hitting $7.8830. 10,871,651 shares of the company were exchanged, compared to its average volume of 36,537,308. The stock has a 50 day moving average of $8.37 and a 200 day moving average of $5.71. QuantumScape has a 52-week low of $3.40 and a 52-week high of $15.03. The company has a current ratio of 16.40, a quick 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 (EPS) for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter in the prior year, the company posted ($0.25) EPS. On average, equities research analysts anticipate that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on QS shares. Robert W. Baird increased their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. The Goldman Sachs Group lowered 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, TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $5.90.

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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