QuantumScape (NYSE:QS) Insider Michael Mccarthy III Sells 50,000 Shares

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 50,000 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $15.78, for a total value of $789,000.00. Following the transaction, the insider directly owned 1,376,118 shares in the company, valued at $21,715,142.04. This represents a 3.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

QuantumScape Stock Up 16.5%

QS opened at $18.40 on Friday. The business’s fifty day moving average is $12.64 and its two-hundred day moving average is $8.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.40 and a current ratio of 21.14. The company has a market cap of $10.42 billion, a price-to-earnings ratio of -22.72 and a beta of 4.85. QuantumScape Corporation has a one year low of $3.40 and a one year high of $19.07.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of ($36.67) million for the quarter. During the same quarter last year, the firm posted ($0.23) EPS. Analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of QuantumScape by 456.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after acquiring an additional 3,904,168 shares in the last quarter. Vanguard Group Inc. increased its stake in QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock valued at $147,064,000 after purchasing an additional 2,911,362 shares during the last quarter. BNP Paribas Financial Markets increased its stake in QuantumScape by 2,036.7% in the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock valued at $16,483,000 after purchasing an additional 2,338,038 shares during the last quarter. JPMorgan Chase & Co. increased its stake in QuantumScape by 1,005.2% in the second quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company’s stock valued at $13,323,000 after purchasing an additional 1,803,196 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in QuantumScape by 148.0% in the second quarter. Bank of America Corp DE now owns 2,803,989 shares of the company’s stock valued at $18,843,000 after purchasing an additional 1,673,472 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.