QuantumScape Corp (NYSE:QS) has reported that its Chief Financial Officer, Kevin Hettrich, has sold a total of 34,607 Class A Common Stock shares at prices ranging from $6.06 to $6.255, with the total transaction amounting to over $212,000. This sale occurred on April 8, 2024, and was executed as part of a prearranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined schedule to sell stocks at a future date.
In addition to the sale, Hettrich also acquired 34,607 shares of QuantumScape stock through the exercise of options on the same day. The options were exercised at a price of $1.3252 per share, amounting to a total transaction value of approximately $45,861.
Before these transactions, Hettrich was granted a combination of restricted stock units (RSUs) and performance restricted stock units (PSUs) on April 5, 2024. These equity awards, which did not involve any immediate cash transaction, totaled 622,210 shares. The RSUs are set to vest quarterly, while the PSUs will vest upon the achievement of specific performance milestones, both contingent on Hettrich's continued service with the company.
Following these series of transactions, Hettrich's direct ownership in QuantumScape stands at 1,178,512 Class A Common Stock shares, which includes shares represented by RSUs and PSUs.
QuantumScape, a leader in the development of solid-state battery technology for electric vehicles, has its headquarters in San Jose, California. The company's stock is publicly traded under the ticker symbol QS on the New York Stock Exchange.
InvestingPro Insights
QuantumScape Corp (NYSE:QS) has been navigating a challenging financial landscape, as reflected in recent market data and analyses. With a market capitalization of $3.1 billion, the company's financial health and stock performance offer a mixed picture for investors considering the stock's potential.
An important metric to consider is the company's P/E ratio, which currently stands at -6.44, indicating that the market may have concerns about the company's profitability. The adjusted P/E ratio for the last twelve months as of Q4 2023 is slightly more negative at -6.98, underscoring the company's ongoing challenges in generating earnings relative to its share price.
InvestingPro Tips suggest that QuantumScape holds more cash than debt on its balance sheet, which can be a positive sign of financial stability. However, the company suffers from weak gross profit margins and analysts do not anticipate the company will be profitable this year, which could be a cause for concern for potential investors. Additionally, QuantumScape's stock price movements have been quite volatile, with the price having fallen significantly over the last three months, showing a 26.02% drop.
For those interested in a deeper dive into QuantumScape's financials and stock performance, InvestingPro offers additional tips and insights. There are currently 9 more InvestingPro Tips available for QuantumScape, which can be accessed at https://www.investing.com/pro/QS. To enrich your investment analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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