Jeffrey Straubel Sells 27,106 Shares of QuantumScape (NYSE:QS) Stock
by Amy Steele · The Cerbat GemQuantumScape Corporation (NYSE:QS – Get Free Report) Director Jeffrey Straubel sold 27,106 shares of QuantumScape stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $6.17, for a total value of $167,244.02. Following the completion of the transaction, the director directly owned 158,404 shares in the company, valued at $977,352.68. This trade represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
QuantumScape Stock Performance
QS stock remained flat at $6.36 during midday trading on Friday. The company’s stock had a trading volume of 9,584,429 shares, compared to its average volume of 13,464,662. The company has a market capitalization of $3.90 billion, a PE ratio of -7.85 and a beta of 2.54. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $7.52 and a 200 day moving average price of $11.11.
QuantumScape (NYSE:QS – Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). During the same period in the previous year, the company posted ($0.22) EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on QS. TD Cowen restated a “hold” rating on shares of QuantumScape in a report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on QuantumScape in a report on Thursday, February 12th. Morgan Stanley cut their price objective on 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, HSBC raised 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 note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $8.98.
Get Our Latest Analysis on QuantumScape
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of QuantumScape by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock worth $426,793,000 after buying an additional 4,323,829 shares in the last quarter. Morgan Stanley increased its position in shares of QuantumScape by 333.5% during the fourth quarter. Morgan Stanley now owns 11,126,497 shares of the company’s stock valued at $115,938,000 after acquiring an additional 8,559,554 shares in the last quarter. Geode Capital Management LLC raised its holdings in QuantumScape by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 8,327,604 shares of the company’s stock worth $86,794,000 after acquiring an additional 1,189,748 shares during the last quarter. Renaissance Technologies LLC purchased a new position in QuantumScape in the 4th quarter worth approximately $84,584,000. Finally, State Street Corp lifted its position in QuantumScape by 7.6% in the 4th quarter. State Street Corp now owns 7,500,503 shares of the company’s stock valued at $78,155,000 after acquiring an additional 529,602 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.
QuantumScape Company Profile
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.