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

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 20,435 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $16.12, for a total value of $329,412.20. Following the completion of the transaction, the insider owned 137,888 shares of the company’s stock, valued at approximately $2,222,754.56. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

QuantumScape Stock Down 7.7%

QS stock traded down $1.23 during midday trading on Wednesday, hitting $14.68. The stock had a trading volume of 35,998,933 shares, compared to its average volume of 29,419,998. The business has a 50-day moving average of $13.79 and a two-hundred day moving average of $9.26. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of -18.13 and a beta of 4.83. 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 Corporation has a 52-week low of $3.40 and a 52-week high of $19.07.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of ($36.67) million during the quarter. During the same period last year, the firm posted ($0.23) EPS. As a group, equities research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its position in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock valued at $25,000 after purchasing an additional 5,841 shares in the last quarter. Tsfg LLC boosted its stake in shares of QuantumScape by 233.3% in the third quarter. Tsfg LLC now owns 2,000 shares of the company’s stock worth $25,000 after acquiring an additional 1,400 shares during the period. REAP Financial Group LLC boosted its stake in QuantumScape by 300.0% in the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,500 shares during the period. Russell Investments Group Ltd. raised its position in shares of QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after purchasing an additional 5,438 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cowen reiterated a “hold” rating on shares of QuantumScape in a research note 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. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Robert W. Baird increased their target price on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, TD Cowen upped their price target on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $7.66.

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.