QuantumScape (NYSE:QS) Insider Sells $705,988.64 in Stock

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 46,264 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $15.26, for a total value of $705,988.64. Following the transaction, the insider owned 1,376,118 shares of the company’s stock, valued at $20,999,560.68. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

QuantumScape Price Performance

Shares of NYSE:QS opened at $15.78 on Friday. QuantumScape Corporation has a 1-year low of $3.40 and a 1-year high of $19.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 16.40. The business has a fifty day moving average price of $12.44 and a 200-day moving average price of $8.49. The company has a market capitalization of $8.93 billion, a PE ratio of -19.48 and a beta of 4.85.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of ($36.67) million for the quarter. During the same period in the previous year, the firm earned ($0.23) EPS. As a group, equities analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QS. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of QuantumScape in a report on Thursday. Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Finally, TD Cowen upped their target price on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday. Eight research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $7.66.

Hedge Funds Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of QS. Vontobel Holding Ltd. grew its stake in shares of QuantumScape by 0.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock valued at $1,488,000 after purchasing an additional 810 shares during the period. Wedmont Private Capital grew its stake in shares of QuantumScape by 5.7% during the 3rd quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock valued at $186,000 after purchasing an additional 815 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of QuantumScape by 67.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock valued at $31,000 after purchasing an additional 1,005 shares during the period. CWM LLC grew its stake in shares of QuantumScape by 69.1% during the 3rd quarter. CWM LLC now owns 2,625 shares of the company’s stock valued at $32,000 after purchasing an additional 1,073 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in shares of QuantumScape by 6.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock valued at $257,000 after purchasing an additional 1,173 shares during the period. Institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

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