QuantumScape (NYSE:QS) Insider Michael Mccarthy III Sells 40,000 Shares of Stock

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 40,000 shares of QuantumScape stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $11.79, for a total transaction of $471,600.00. Following the transaction, the insider directly owned 137,888 shares in the company, valued at $1,625,699.52. This represents a 22.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

QuantumScape Stock Performance

Shares of NYSE QS opened at $12.10 on Thursday. The stock has a market cap of $7.27 billion, a PE ratio of -14.93 and a beta of 4.83. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $19.07. The firm has a fifty day moving average price of $14.59 and a 200-day moving average price of $9.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). During the same quarter in the prior year, the company posted ($0.23) earnings per share. Equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

QS has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Hsbc Global Res raised shares of QuantumScape to a “moderate sell” rating in a report on Wednesday, November 19th. TD Cowen lifted their price objective 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. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $12.00 target price (up from $8.00) on shares of QuantumScape in a research note on Monday. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $8.81.

Institutional Trading of QuantumScape

Several hedge funds have recently modified their holdings of QS. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 1.2% in the third quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock valued at $451,346,000 after purchasing an additional 422,378 shares in the last quarter. Geode Capital Management LLC lifted its position in QuantumScape by 12.5% during the second quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company’s stock valued at $46,475,000 after purchasing an additional 768,070 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of QuantumScape by 150.1% in the 3rd quarter. Two Sigma Investments LP now owns 3,630,275 shares of the company’s stock worth $44,725,000 after buying an additional 2,178,918 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of QuantumScape in the 3rd quarter worth about $44,421,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Company Profile

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.