Kevin Hettrich Sells 34,607 Shares of QuantumScape Co. (NYSE:QS) Stock

Posted by Defense World Staff on Oct 8th, 2023

QuantumScape Co. (NYSE:QS – Get Free Report) CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $6.34, for a total value of $219,408.38. Following the transaction, the chief financial officer now owns 606,087 shares of the company’s stock, valued at $3,842,591.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Kevin Hettrich also recently made the following trade(s):

On Tuesday, September 12th, Kevin Hettrich sold 34,607 shares of QuantumScape stock. The shares were sold at an average price of $7.06, for a total value of $244,325.42.
On Friday, August 18th, Kevin Hettrich sold 76,648 shares of QuantumScape stock. The shares were sold at an average price of $6.84, for a total value of $524,272.32.

QuantumScape Stock Up 2.7 %

Shares of QS opened at $6.42 on Friday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -6.29 and a beta of 5.19. QuantumScape Co. has a 1 year low of $5.11 and a 1 year high of $13.86. The business’s 50 day simple moving average is $7.30 and its 200-day simple moving average is $7.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 19.25 and a quick ratio of 19.25.

QuantumScape (NYSE:QS – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). During the same period last year, the firm earned ($0.22) earnings per share. As a group, equities analysts expect that QuantumScape Co. will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings in QuantumScape by 25.6% during the 2nd quarter. Barclays PLC now owns 2,344,431 shares of the company’s stock valued at $18,732,000 after buying an additional 477,222 shares during the period. California State Teachers Retirement System raised its holdings in QuantumScape by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 336,656 shares of the company’s stock valued at $2,690,000 after buying an additional 5,271 shares during the period. GTS Securities LLC purchased a new stake in QuantumScape during the 2nd quarter valued at $1,880,000. Alliancebernstein L.P. raised its holdings in QuantumScape by 16.1% during the 2nd quarter. Alliancebernstein L.P. now owns 130,657 shares of the company’s stock valued at $1,044,000 after buying an additional 18,107 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in QuantumScape by 3.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 133,112 shares of the company’s stock valued at $1,064,000 after buying an additional 4,949 shares during the period. Hedge funds and other institutional investors own 27.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on QS. Truist Financial upped their price target on QuantumScape from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Evercore ISI began coverage on QuantumScape in a research note on Monday, September 18th. They issued an “outperform” rating and a $10.00 price target for the company. TD Cowen downgraded QuantumScape from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $14.00 to $8.00 in a research note on Wednesday, July 19th. Finally, The Goldman Sachs Group dropped their price target on QuantumScape from $6.00 to $5.00 and set a “sell” rating for the company in a research note on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and an average price target of $6.57.

Read Our Latest Stock Analysis on QS

QuantumScape Company Profile

(Get Free Report)

QuantumScape Corporation, a development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape Corporation was founded in 2010 and is headquartered in San Jose, California.