Insider Selling: QuantumScape Co. (NYSE:QS) Insider Sells 22,554 Shares of Stock

QuantumScape Co. (NYSE:QS) insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the transaction, the insider now directly owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

QuantumScape Stock Down 4.1 %

Shares of NYSE:QS opened at $5.54 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. QuantumScape Co. has a 1 year low of $4.92 and a 1 year high of $13.86. The stock has a market capitalization of $2.76 billion, a P/E ratio of -5.77 and a beta of 4.74. The stock has a 50-day simple moving average of $5.74 and a 200-day simple moving average of $6.39.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Equities analysts forecast that QuantumScape Co. will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

QS has been the subject of several analyst reports. UBS Group cut their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Robert W. Baird boosted their target price on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Truist Financial cut their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.09.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of QuantumScape by 240.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after acquiring an additional 3,004,964 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after acquiring an additional 251,186 shares in the last quarter. Norges Bank acquired a new stake in shares of QuantumScape during the 4th quarter valued at approximately $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University raised its position in shares of QuantumScape by 5.2% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock valued at $18,144,000 after acquiring an additional 129,239 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.