QuantumScape (NYSE:QS) CTO Sells 75,000 Shares of Stock

QuantumScape Corporation (NYSE:QS) CTO Timothy Holme sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $4.54, for a total transaction of $340,500.00. Following the completion of the transaction, the chief technology officer owned 1,522,261 shares in the company, valued at approximately $6,911,064.94. This represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Timothy Holme also recently made the following trade(s):

• On Monday, October 5th, Timothy Holme sold 45,000 shares of QuantumScape stock. The shares were sold at an average price of $4.54, for a total transaction of $204,300.00.
• On Tuesday, September 15th, Timothy Holme sold 45,000 shares of QuantumScape stock. The shares were sold at an average price of $5.09, for a total value of $229,050.00.
• On Tuesday, September 15th, Timothy Holme sold 75,000 shares of QuantumScape stock. The stock was sold at an average price of $5.09, for a total value of $381,750.00.
• On Friday, August 21st, Timothy Holme sold 12,723 shares of QuantumScape stock. The stock was sold at an average price of $6.01, for a total value of $76,465.23.
• On Wednesday, August 19th, Timothy Holme sold 21,531 shares of QuantumScape stock. The shares were sold at an average price of $5.76, for a total value of $124,018.56.
• On Wednesday, August 19th, Timothy Holme sold 20,345 shares of QuantumScape stock. The shares were sold at an average price of $5.76, for a total value of $117,187.20.

QuantumScape Trading Down 2.8%

QuantumScape stock traded down $0.13 during midday trading on Wednesday, reaching $4.52. 11,234,815 shares of the stock traded hands, compared to its average volume of 18,608,328. The firm has a market cap of $2.80 billion, a PE ratio of -5.58 and a beta of 2.83. 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 company has a 50-day simple moving average of $5.40 and a two-hundred day simple moving average of $6.53. QuantumScape Corporation has a 12-month low of $4.45 and a 12-month high of $19.07.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. QuantumScape’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.20) EPS. Research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of QuantumScape by 134.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company’s stock valued at $36,570,000 after buying an additional 3,290,942 shares during the period. Norges Bank purchased a new stake in shares of QuantumScape during the fourth quarter worth approximately $29,321,000. Bank of New York Mellon Corp acquired a new stake in QuantumScape in the second quarter valued at approximately $9,619,000. Clear Street Group Inc. purchased a new position in QuantumScape in the fourth quarter worth approximately $10,314,000. Finally, California State Teachers Retirement System lifted its stake in QuantumScape by 23.3% in the first quarter. California State Teachers Retirement System now owns 491,725 shares of the company’s stock worth $3,137,000 after acquiring an additional 93,079 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen decreased their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $9.47.

About QuantumScape

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries for electric vehicles and other applications. Its technology is designed to replace conventional lithium-ion battery components, including the graphite anode, with a lithium-metal anode and a solid ceramic separator.

The company is developing battery cells intended to offer higher energy density, faster charging, improved safety and longer operating range than many conventional lithium-ion batteries.