QuantumScape (NYSE:QS) CTO Sells $2,524,330.35 in Stock

QuantumScape Corporation (NYSE:QS) CTO Timothy Holme sold 201,785 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total transaction of $2,524,330.35. Following the completion of the sale, the chief technology officer directly owned 1,251,383 shares in the company, valued at $15,654,801.33. This represents a 13.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 19th, Timothy Holme sold 44,923 shares of QuantumScape stock. The shares were sold at an average price of $12.51, for a total transaction of $561,986.73.
• On Friday, October 3rd, Timothy Holme sold 44,923 shares of QuantumScape stock. The stock was sold at an average price of $15.52, for a total transaction of $697,204.96.
• On Friday, October 3rd, Timothy Holme sold 166,442 shares of QuantumScape stock. The stock was sold at an average price of $15.52, for a total transaction of $2,583,179.84.
• On Monday, September 8th, Timothy Holme sold 6,362 shares of QuantumScape stock. The shares were sold at an average price of $9.63, for a total transaction of $61,266.06.
• On Monday, September 8th, Timothy Holme sold 23,244 shares of QuantumScape stock. The shares were sold at an average price of $9.63, for a total transaction of $223,839.72.
• On Thursday, September 4th, Timothy Holme sold 38,561 shares of QuantumScape stock. The stock was sold at an average price of $7.55, for a total value of $291,135.55.
• On Thursday, September 4th, Timothy Holme sold 176,352 shares of QuantumScape stock. The shares were sold at an average price of $7.55, for a total value of $1,331,457.60.

QuantumScape Stock Down 6.1%

NYSE:QS traded down $0.77 during trading hours on Thursday, reaching $11.69. 27,379,357 shares of the company traded hands, compared to its average volume of 29,388,143. 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’s 50-day moving average price is $14.40 and its two-hundred day moving average price is $9.62. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $19.07. The stock has a market capitalization of $7.03 billion, a P/E ratio of -14.44 and a beta of 4.83.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). During the same period in the prior year, the company earned ($0.23) EPS. Analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on QS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. TD Cowen raised their price target on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, October 30th. HSBC cut QuantumScape from a “hold” rating to a “reduce” rating and upped their price objective for the company from $5.30 to $10.50 in a research report on Wednesday. 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. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Six research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, QuantumScape has an average rating of “Reduce” and a consensus target price of $8.31.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QS. Perbak Capital Partners LLP purchased a new stake in shares of QuantumScape in the first quarter worth $353,000. Nuveen LLC purchased a new stake in QuantumScape in the 1st quarter worth $2,819,000. Thames Capital Management LLC purchased a new position in shares of QuantumScape in the second quarter valued at about $2,792,000. CacheTech Inc. purchased a new position in QuantumScape in the 1st quarter worth approximately $130,000. Finally, Private Advisory Group LLC boosted its stake in QuantumScape by 17.1% in the 1st quarter. Private Advisory Group LLC now owns 447,478 shares of the company’s stock worth $1,862,000 after purchasing an additional 65,237 shares during the period. 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.