Jagdeep Singh Sells 192,270 Shares of QuantumScape Co. (NYSE:QS) Stock

QuantumScape Co. (NYSE:QS) Director Jagdeep Singh sold 192,270 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the transaction, the director now owns 2,590,583 shares in the company, valued at approximately $15,517,592.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, August 12th, Jagdeep Singh sold 192,270 shares of QuantumScape stock. The stock was sold at an average price of $5.50, for a total value of $1,057,485.00.
• On Friday, July 5th, Jagdeep Singh sold 79,006 shares of QuantumScape stock. The shares were sold at an average price of $5.03, for a total value of $397,400.18.
• On Monday, July 8th, Jagdeep Singh sold 113,264 shares of QuantumScape stock. The shares were sold at an average price of $5.04, for a total transaction of $570,850.56.

QuantumScape Stock Performance

QuantumScape stock opened at $5.83 on Friday. The company’s 50-day moving average price is $6.29 and its 200-day moving average price is $5.87. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.91 billion, a PE ratio of -6.07 and a beta of 4.59. QuantumScape Co. has a twelve month low of $4.67 and a twelve month high of $10.03.

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

Wall Street Analyst Weigh In

A number of analysts have commented on QS shares. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a report on Monday, August 5th. Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.95.

Institutional Trading of QuantumScape

A number of institutional investors have recently bought and sold shares of QS. Sanctuary Advisors LLC purchased a new stake in QuantumScape in the 2nd quarter worth about $680,000. Granite Bay Wealth Management LLC purchased a new stake in shares of QuantumScape in the second quarter worth approximately $76,000. Algert Global LLC purchased a new stake in shares of QuantumScape in the second quarter worth approximately $175,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of QuantumScape during the 2nd quarter worth approximately $644,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in QuantumScape by 4.4% during 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 during the period. 29.87% of the stock is currently owned by institutional investors.

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.