QuantumScape (NYSE:QS) Insider Michael Mccarthy III Sells 20,435 Shares

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 20,435 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $16.12, for a total value of $329,412.20. Following the completion of the sale, the insider directly owned 137,888 shares of the company’s stock, valued at approximately $2,222,754.56. This represents a 12.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

QuantumScape Stock Performance

QS opened at $14.68 on Thursday. The company has a market cap of $8.83 billion, a P/E ratio of -18.13 and a beta of 4.83. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $13.93 and its 200-day moving average price is $9.30. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $19.07.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same period in the previous year, the business earned ($0.23) EPS. As a group, equities 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. Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. TD Cowen raised their price objective on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, October 30th. Robert W. Baird lifted their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, Cowen reaffirmed a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $7.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted 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 worth $1,488,000 after acquiring an additional 810 shares in the last quarter. Wedmont Private Capital raised its holdings in QuantumScape by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock worth $186,000 after purchasing an additional 815 shares during the period. Wilmington Savings Fund Society FSB boosted its position in QuantumScape by 67.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after purchasing an additional 1,005 shares in the last quarter. CWM LLC grew its holdings in QuantumScape by 69.1% in the third 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 holdings in QuantumScape by 6.0% in the third 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. 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.