QuantumScape Co. (NYSE:QS) Director Sells $1,063,253.10 in Stock

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at $14,325,923.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, September 17th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The shares were sold at an average price of $5.99, for a total transaction of $1,151,697.30.
• On Monday, August 12th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The shares were sold at an average price of $5.50, for a total transaction of $1,057,485.00.

QuantumScape Price Performance

Shares of QuantumScape stock opened at $5.41 on Friday. QuantumScape Co. has a fifty-two week low of $4.67 and a fifty-two week high of $10.03. The company has a market cap of $2.70 billion, a PE ratio of -5.64 and a beta of 4.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. The firm has a fifty day moving average price of $5.74 and a two-hundred day moving average price of $5.85.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the prior year, the business posted ($0.26) EPS. Analysts expect that QuantumScape Co. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QS. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.14.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently made changes to their positions in QS. 180 Wealth Advisors LLC increased its position in QuantumScape by 2.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock valued at $392,000 after acquiring an additional 2,059 shares in the last quarter. CWM LLC increased its position in QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after acquiring an additional 2,556 shares in the last quarter. Carson Advisory Inc. increased its position in QuantumScape by 13.6% in the 1st quarter. Carson Advisory Inc. now owns 24,250 shares of the company’s stock valued at $153,000 after acquiring an additional 2,900 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock valued at $413,000 after acquiring an additional 3,527 shares in the last quarter. Finally, Arizona State Retirement System increased its position in QuantumScape by 4.6% in the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock valued at $486,000 after acquiring an additional 4,330 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.