Kevin Hettrich, the Chief Financial Officer of QuantumScape Corp (NYSE:QS), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The company, currently valued at $2.69 billion, has shown significant stock volatility with a beta of 4.5, according to InvestingPro data. On December 5 and 6, Hettrich sold a total of 32,265 shares of QuantumScape's Class A Common Stock. The sale price ranged from $5.0523 to $5.1028 per share, amounting to a total sale value of approximately $164,510. The company currently trades at $5.25, with InvestingPro analysis indicating the stock is fairly valued based on its comprehensive Fair Value model.
In addition to these sales, Hettrich also exercised stock options to acquire 32,265 shares at a price of $2.377 per share, with a total transaction value of $76,693. These transactions were conducted as part of a pre-established Rule 10b5-1 trading plan, which Hettrich adopted on June 6, 2024.
Following these transactions, Hettrich holds 1,024,325 shares of QuantumScape, which includes shares acquired through the company's Employee Stock Purchase Plan and restricted stock units.
In other recent news, QuantumScape has made significant strides in its operations. The company recently commenced the initial production and customer shipments of its QSE-5 B-samples from the Raptor production line, marking a significant milestone in the production of the first anode-free solid-state lithium metal cells for automotive applications. QuantumScape's recent financial results revealed a GAAP net loss of $119.7 million and an adjusted EBITDA loss of $71.6 million for Q3.
HSBC (LON:HSBA), Truist Securities, and TD Cowen have all maintained a Hold rating on QuantumScape, acknowledging the company's progress in cell development, manufacturing advancements, and operational efficiencies. HSBC's revised outlook is based on QuantumScape's shift in strategy towards focusing on licensing its technology rather than producing it in-house.
QuantumScape's collaboration with VW PowerCo under a licensing agreement, which includes a $130 million prepayment, is expected to play a crucial role in the future production and distribution of QuantumScape's C-samples and subsequent products. The company also anticipates that the Cobra heat treatment equipment, critical for high volume B-sample production, will be operational by the end of 2024. These are recent developments in QuantumScape's operations, highlighting the company's technological progress and strategic partnerships.
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