QuantumScape Co. (NYSE:QS) Director Sells $1,057,485.00 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, August 12th. The shares were sold at an average price of $5.50, for a total transaction of $1,057,485.00. Following the completion of the transaction, the director now directly owns 2,809,253 shares of the company’s stock, valued at approximately $15,450,891.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, July 5th, Jagdeep Singh sold 79,006 shares of QuantumScape stock. The stock was sold at an average price of $5.03, for a total transaction of $397,400.18.
• On Monday, July 8th, Jagdeep Singh sold 113,264 shares of QuantumScape stock. The stock was sold at an average price of $5.04, for a total transaction of $570,850.56.
• On Thursday, June 13th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.35, for a total transaction of $1,028,644.50.
• On Friday, May 31st, Jagdeep Singh sold 192,280 shares of QuantumScape stock. The stock was sold at an average price of $5.85, for a total transaction of $1,124,838.00.

QuantumScape Price Performance

QuantumScape stock opened at $5.72 on Friday. QuantumScape Co. has a 52-week low of $4.67 and a 52-week high of $10.03. The firm has a fifty day moving average of $6.06 and a 200-day moving average of $6.05. The firm has a market capitalization of $2.86 billion, a P/E ratio of -5.96 and a beta of 4.62. The company has a quick ratio of 10.38, a current ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the prior year, the business earned ($0.26) EPS. As a group, analysts predict that QuantumScape Co. will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of QuantumScape by 240.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after purchasing an additional 3,004,964 shares during the period. Baillie Gifford & Co. boosted its stake in QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after acquiring an additional 251,186 shares during the last quarter. Norges Bank bought a new position in QuantumScape during the 4th quarter valued at $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University boosted its stake in QuantumScape by 5.2% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock valued at $18,144,000 after acquiring an additional 129,239 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QS has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. UBS Group dropped their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.62.

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.