Key Points
- QuantumScape director Jeffrey Straubel sold 27,106 shares on May 12 at an average price of $7.85, totaling about $212,782. After the sale, he still held 131,298 shares, a 17.11% reduction in his position.
- The stock was down 0.7% and opened Friday at $8.60. QuantumScape remains highly volatile, with a 52-week range of $3.80 to $19.07 and a beta of 2.57.
- Analysts are cautious on QS, with six Hold ratings and one Sell rating, giving it a consensus “Reduce” view and an average price target of $11.13. The company recently reported a quarterly loss of $0.16 per share, slightly better than expected.
QuantumScape Corporation (NYSE:QS - Get Free Report) Director Jeffrey Straubel sold 27,106 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $7.85, for a total transaction of $212,782.10. Following the sale, the director directly owned 131,298 shares of the company's stock, valued at $1,030,689.30. This represents a 17.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
QuantumScape Stock Down 0.7%
QS stock opened at $8.60 on Friday. The stock has a market capitalization of $5.29 billion, a P/E ratio of -10.62 and a beta of 2.57. The firm has a 50-day simple moving average of $6.96 and a 200-day simple moving average of $9.68. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a 52 week low of $3.80 and a 52 week high of $19.07.
QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. During the same quarter in the previous year, the firm posted ($0.21) EPS. Equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.
Hedge Funds Weigh In On QuantumScape
Large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of QuantumScape in the 3rd quarter worth approximately $33,962,000. Vanguard Group Inc. lifted its holdings in shares of QuantumScape by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company's stock worth $451,346,000 after acquiring an additional 422,378 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of QuantumScape in the 4th quarter worth approximately $4,475,000. State of New Jersey Common Pension Fund D acquired a new position in shares of QuantumScape in the 3rd quarter worth approximately $3,330,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of QuantumScape in the 3rd quarter worth approximately $2,222,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently commented on QS. TD Cowen reissued a "hold" rating on shares of QuantumScape in a research note on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a research note on Thursday, February 12th. Morgan Stanley dropped their price objective on shares of QuantumScape from $12.00 to $8.50 and set an "equal weight" rating for the company in a research note on Wednesday, February 18th. Finally, HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and dropped their price objective for the company from $10.50 to $8.30 in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $11.13.
Check Out Our Latest Analysis on QS
QuantumScape Company Profile
(
Get Free Report)
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.
Further Reading
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