Insider Selling: QuantumScape (NYSE:QS) CFO Sells 9,800 Shares of Stock

QuantumScape Corporation (NYSE:QS) CFO Kevin Hettrich sold 9,800 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $6.76, for a total value of $66,248.00. Following the transaction, the chief financial officer directly owned 1,358,079 shares in the company, valued at $9,180,614.04. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kevin Hettrich also recently made the following trade(s):

• On Wednesday, January 14th, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The stock was sold at an average price of $10.59, for a total transaction of $103,782.00.
• On Monday, December 15th, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The shares were sold at an average price of $11.07, for a total transaction of $108,486.00.

QuantumScape Price Performance

Shares of NYSE QS remained flat at $7.03 during mid-day trading on Wednesday. 14,966,616 shares of the stock were exchanged, compared to its average volume of 15,726,679. The firm’s fifty day moving average is $9.66 and its 200-day moving average is $11.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The company has a market capitalization of $4.23 billion, a PE ratio of -8.68 and a beta of 2.52. QuantumScape Corporation has a one year low of $3.40 and a one year high of $19.07.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) EPS. As a group, equities research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on QS shares. TD Cowen restated a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and reduced their target price for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price target on shares of QuantumScape in a research note on Thursday, February 12th. Morgan Stanley lowered their price target on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Finally, Evercore reissued an “in-line” rating and issued a $12.00 price objective (up from $8.00) on shares of QuantumScape in a report on Monday, November 24th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.98.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently bought and sold shares of QS. Vanguard Group Inc. raised its position in shares of QuantumScape by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock valued at $426,793,000 after buying an additional 4,323,829 shares in the last quarter. Morgan Stanley lifted its stake in QuantumScape by 333.5% during the fourth quarter. Morgan Stanley now owns 11,126,497 shares of the company’s stock worth $115,938,000 after purchasing an additional 8,559,554 shares during the last quarter. Geode Capital Management LLC boosted its stake in QuantumScape by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 8,327,604 shares of the company’s stock valued at $86,794,000 after buying an additional 1,189,748 shares in the last quarter. Renaissance Technologies LLC bought a new position in QuantumScape in the fourth quarter valued at about $84,584,000. Finally, State Street Corp raised its stake in QuantumScape by 7.6% during the fourth quarter. State Street Corp now owns 7,500,503 shares of the company’s stock worth $78,155,000 after acquiring an additional 529,602 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.