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SAN JOSE, CA—Kevin Hettrich, 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 $2.6 billion, has shown significant price volatility with a beta of 4.47, according to InvestingPro data. On January 27, Hettrich sold 36,949 shares of QuantumScape’s Class A common stock, generating approximately $186,832. The shares were sold at a weighted average price of $5.0565, with individual transactions ranging from $5.015 to $5.125.
In addition to the sale, Hettrich exercised stock options to acquire 36,949 shares at a price of $2.377 per share, valued at $87,827. These transactions were conducted under a Rule 10b5-1 trading plan that Hettrich adopted on June 6, 2024.
Following these transactions, Hettrich holds 1,024,325 shares, which include restricted stock units and performance restricted stock units. These units grant him the right to receive shares of QuantumScape’s Class A common stock, subject to vesting schedules and performance milestones. Investors tracking this development should note that QuantumScape’s next earnings report is scheduled for February 12, 2025, as indicated by InvestingPro’s comprehensive financial calendar.
In other recent news, QuantumScape has seen significant progress in its operations, with HSBC adjusting its rating from Reduce to Hold due to technological advancements made by the company throughout 2024. QuantumScape has evolved from an early-stage prototype to a near-final product prototype using automated production methods. A key development has been the company’s licensing agreement with VW’s PowerCo, marking a first in the solid-state battery space.
The company’s recent financial results revealed a GAAP net loss of $119.7 million and an adjusted EBITDA loss of $71.6 million for Q3. Analyst firms Truist Securities and TD Cowen have maintained a Hold rating on QuantumScape, acknowledging the company’s progress in cell development, manufacturing advancements, and operational efficiencies. The company’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 products.
However, despite these positive developments, HSBC cites a lack of clarity regarding targeted volumes and royalty rates, leading to a wide range of potential outcomes. This uncertainty has influenced the decision to maintain a Hold rating on the stock.
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