QuantumScape (NYSE:QS) Insider Sells $302,850.00 in Stock

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 45,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $6.73, for a total transaction of $302,850.00. Following the sale, the insider directly owned 954,219 shares of the company’s stock, valued at approximately $6,421,893.87. This represents a 4.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

QuantumScape Stock Performance

NYSE QS traded down $0.23 during trading hours on Friday, reaching $6.69. The company’s stock had a trading volume of 11,779,667 shares, compared to its average volume of 15,293,635. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $9.05 and a 200 day simple moving average of $11.31. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $19.07. The stock has a market cap of $4.02 billion, a PE ratio of -8.26 and a beta of 2.51.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.22) earnings per share. Equities research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in QuantumScape by 1.2% during the third quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock worth $451,346,000 after purchasing an additional 422,378 shares in the last quarter. Thames Capital Management LLC bought a new position in QuantumScape during the 2nd quarter valued at $2,792,000. State of New Jersey Common Pension Fund D acquired a new position in shares of QuantumScape during the 3rd quarter valued at $3,330,000. Norges Bank bought a new stake in shares of QuantumScape in the 2nd quarter worth $2,272,000. Finally, Arthedge Capital Management LLC lifted its holdings in shares of QuantumScape by 17.3% in the second quarter. Arthedge Capital Management LLC now owns 848,000 shares of the company’s stock valued at $5,699,000 after buying an additional 125,000 shares during the period. Institutional investors own 29.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore reiterated an “in-line” rating and issued a $12.00 target price (up from $8.00) on shares of QuantumScape in a research note on Monday, November 24th. Morgan Stanley cut their price objective on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 target price on shares of QuantumScape in a research note on Thursday, February 12th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and decreased their target price for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. Finally, TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a report on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of “Reduce” and a consensus target price of $8.98.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.