QuantumScape (NYSE:QS) Shares Down 1.1% After Insider Selling

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) dropped 1.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $5.04 and last traded at $5.08. Approximately 2,687,002 shares traded hands during trading, a decline of 84% from the average daily volume of 16,469,477 shares. The stock had previously closed at $5.13.

Specifically, CFO Kevin Hettrich sold 36,949 shares of QuantumScape stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several research firms have commented on QS. Truist Financial restated a "hold" rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. Finally, HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $6.26.

QuantumScape Stock Performance

The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average is $5.29 and its 200 day moving average is $5.64. The company has a market cap of $2.65 billion, a PE ratio of -5.45 and a beta of 4.46.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the stock. Atlas Legacy Advisors LLC purchased a new stake in shares of QuantumScape during the fourth quarter worth approximately $53,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in QuantumScape during the 4th quarter worth $57,000. Sanctuary Advisors LLC grew its holdings in shares of QuantumScape by 4.0% during the fourth quarter. Sanctuary Advisors LLC now owns 168,256 shares of the company's stock worth $875,000 after buying an additional 6,475 shares in the last quarter. Van ECK Associates Corp raised its position in shares of QuantumScape by 9.1% in the fourth quarter. Van ECK Associates Corp now owns 132,885 shares of the company's stock valued at $690,000 after buying an additional 11,050 shares during the last quarter. Finally, Essex Financial Services Inc. acquired a new position in QuantumScape during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 29.87% of the company's stock.

About QuantumScape

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.