Dipender Saluja Sells 2,613,121 Shares of QuantumScape (NYSE:QS) Stock

by · The Markets Daily

QuantumScape Corporation (NYSE:QS – Get Free Report) Director Dipender Saluja sold 2,613,121 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.01, for a total transaction of $28,770,462.21. Following the completion of the sale, the director owned 9,892,934 shares of the company’s stock, valued at $108,921,203.34. The trade was a 20.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Dipender Saluja also recently made the following trade(s):

  • On Friday, December 12th, Dipender Saluja sold 684,524 shares of QuantumScape stock. The shares were sold at an average price of $11.94, for a total transaction of $8,173,216.56.

QuantumScape Stock Performance

QS traded up $0.05 during trading on Tuesday, hitting $10.88. The stock had a trading volume of 17,040,398 shares, compared to its average volume of 28,443,484. The firm has a market cap of $6.54 billion, a PE ratio of -13.43 and a beta of 2.76. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $19.07. The company has a 50 day simple moving average of $14.27 and a 200-day simple moving average of $10.68.

QuantumScape (NYSE:QS – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same quarter in the prior year, the firm earned ($0.23) EPS. Analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI reaffirmed an “in-line” rating and issued a $12.00 target price (up previously from $8.00) on shares of QuantumScape in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Cowen reissued a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Finally, Hsbc Global Res raised shares of QuantumScape to a “moderate sell” rating in a research report on Wednesday, November 19th. Seven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $9.17.

Check Out Our Latest Research Report on QS

Institutional Trading of QuantumScape

Several institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its holdings in shares of QuantumScape by 28.5% during the first quarter. Cetera Investment Advisers now owns 64,169 shares of the company’s stock valued at $267,000 after acquiring an additional 14,225 shares during the period. Vanguard Group Inc. increased its position in shares of QuantumScape by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after purchasing an additional 2,911,362 shares in the last quarter. Townsquare Capital LLC lifted its holdings in QuantumScape by 150.9% during the 1st quarter. Townsquare Capital LLC now owns 85,167 shares of the company’s stock valued at $354,000 after purchasing an additional 51,218 shares during the last quarter. Nuveen LLC acquired a new position in QuantumScape in the first quarter valued at about $2,819,000. Finally, HighTower Advisors LLC grew its stake in QuantumScape by 13.7% during the first quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock worth $98,000 after buying an additional 2,838 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

(Get Free Report)

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.

Featured Articles