QuantumScape CFO Sells Significant Number of Shares

On January 27th, 2023, QuantumScape Co. (NYSE:QS) Chief Financial Officer Kevin Hettrich sold 36,949 shares of the company's stock. The shares were sold at an average price of $5.06 each, totaling approximately $186,962.94. After this transaction, Hettrich's total ownership in QuantumScape is now 1,024,325 shares, which are valued at around $5,183,084.50. This sale accounts for a decrease of 3.48% in his shareholding.

This trade was officially reported in a filing submitted to the Securities and Exchange Commission (SEC), and the document is publicly accessible.

Previous Insider Trading Activity

Kevin Hettrich has conducted several trades in recent months. On December 5, 2022, he sold 29,667 shares at an average price of $5.10, accumulating a total of $151,301.70. Earlier, on November 21, 2022, he sold 55,647 shares at an average price of $5.05, resulting in a transaction value of $281,017.35.

Current Stock Performance

As of the latest trading session, QuantumScape shares experienced a minor decline of $0.04, settling at $5.09. The trading volume reached approximately 9,440,651 shares, which is below the average volume of 16,864,428. Currently, the company maintains a current ratio and quick ratio of 14.07, alongside a debt-to-equity ratio of 0.03. QuantumScape's market capitalization is reported at $2.61 billion, with a price-to-earnings (P/E) ratio of -5.36. The stock has fluctuated between a one-year low of $4.65 and a high of $9.52, with a 50-day moving average of $5.29 and a 200-day moving average of $5.67.

Analyst Ratings

Analysts have recently reviewed QuantumScape's stock, indicating a mix of ratings. On November 19, HSBC Global Research upgraded the company to a "hold" rating. Truist Financial also reiterated a "hold" rating, increasing the price target from $6.00 to $7.00. Another upgrade from HSBC changed its rating from "reduce" to "hold," setting a target price of $5.30. Currently, one investment analyst has rated the stock as a sell, while six have marked it as hold. The average consensus rating remains at "Hold," with a consensus price target of $6.26 according to MarketBeat data.

Institutional Investor Activity

Several institutional investors have adjusted their holdings in QuantumScape recently. Geode Capital Management LLC increased its stake by 3.9% in the third quarter, acquiring an additional 218,743 shares to reach a total of 5,853,958 shares valued at $33,671,000. Weiss Asset Management LP entered a new position with an investment around $828,000. Notably, Nisa Investment Advisors LLC significantly lifted its stake by 6,650.0%, now owning a total of 135,000 shares valued at $776,000 after previously acquiring 133,000 shares. Other firms like Susquehanna Fundamental Investments LLC and Sanctuary Advisors LLC have also made new investments. Approximately 29.87% of QuantumScape's stock is owned by institutional investors and hedge funds.

Company Overview

QuantumScape Corporation is focused on the research and development of solid-state lithium-metal batteries, particularly for electric vehicles. The company, founded in 2010, is headquartered in San Jose, California.

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