QuantumScape Corporation (NYSE:QS) Insider Mohit Singh Sells 325,000 Shares

QuantumScape Corporation (NYSE:QS) insider Mohit Singh sold 325,000 shares of QuantumScape stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.21, for a total value of $2,343,250.00. Following the sale, the insider now directly owns 1,641,711 shares of the company’s stock, valued at $11,836,736.31. This trade represents a 16.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, June 25th, Mohit Singh sold 290,000 shares of QuantumScape stock. The stock was sold at an average price of $5.96, for a total value of $1,728,400.00.
• On Monday, May 19th, Mohit Singh sold 71,428 shares of QuantumScape stock. The stock was sold at an average price of $4.41, for a total value of $314,997.48.

QuantumScape Stock Down 13.5%

QuantumScape stock opened at $6.62 on Friday. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The company has a market capitalization of $3.70 billion, a P/E ratio of -7.27 and a beta of 4.27. The stock has a 50-day simple moving average of $4.28 and a 200-day simple moving average of $4.63.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter last year, the firm earned ($0.24) earnings per share. Equities research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in QS. Sanctuary Advisors LLC raised its stake in QuantumScape by 4.0% during the 4th quarter. Sanctuary Advisors LLC now owns 168,256 shares of the company’s stock valued at $875,000 after acquiring an additional 6,475 shares during the last quarter. Private Advisor Group LLC raised its stake in QuantumScape by 47.3% during the 4th quarter. Private Advisor Group LLC now owns 61,356 shares of the company’s stock valued at $318,000 after acquiring an additional 19,704 shares during the last quarter. Ieq Capital LLC raised its stake in QuantumScape by 2.6% during the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock valued at $453,000 after acquiring an additional 2,200 shares during the last quarter. Handelsbanken Fonder AB raised its stake in QuantumScape by 2.0% during the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock valued at $595,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in QuantumScape during the 4th quarter valued at approximately $1,275,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group decreased their price target on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. Robert W. Baird decreased their price target on QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Finally, UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.19.

QuantumScape Company Profile

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.