Michael Mccarthy III Sells 40,000 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 40,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $11.79, for a total transaction of $471,600.00. Following the sale, the insider directly owned 137,888 shares of the company’s stock, valued at $1,625,699.52. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

QuantumScape Trading Up 2.0%

Shares of QuantumScape stock opened at $12.10 on Friday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07. The firm has a market capitalization of $7.27 billion, a PE ratio of -14.93 and a beta of 4.83. The firm’s 50-day moving average price is $14.59 and its 200 day moving average price is $9.91.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). During the same period in the previous year, the business earned ($0.23) EPS. On average, sell-side analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QS shares. HSBC cut QuantumScape from a “hold” rating to a “reduce” rating and boosted their price target for the stock from $5.30 to $10.50 in a research report on Wednesday, November 19th. Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. TD Cowen boosted their price target on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $8.81.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of the company. VSM Wealth Advisory LLC boosted its holdings in QuantumScape by 46.8% in the 3rd quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock valued at $29,000 after purchasing an additional 750 shares during the last quarter. Vontobel Holding Ltd. raised its position 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 buying an additional 810 shares during the period. Wedmont Private Capital lifted its holdings in QuantumScape by 5.7% in the third quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock valued at $186,000 after acquiring an additional 815 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in QuantumScape by 8.2% in the third quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock valued at $153,000 after acquiring an additional 939 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in QuantumScape by 67.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after acquiring an additional 1,005 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

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.