Insider Selling: QuantumScape Co. (NYSE:QS) Insider Sells 27,871 Shares of Stock

QuantumScape Co. (NYSE:QS – Get Rating) insider Michael O. Mccarthy III sold 27,871 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $12.51, for a total transaction of $348,666.21. Following the transaction, the insider now owns 542,743 shares of the company’s stock, valued at approximately $6,789,714.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of QuantumScape stock traded up $0.65 during midday trading on Tuesday, reaching $12.12. The company had a trading volume of 8,732,990 shares, compared to its average volume of 8,163,578. The company has a current ratio of 48.57, a quick ratio of 48.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -19.23 and a beta of 7.88. The stock has a fifty day simple moving average of $16.46 and a 200 day simple moving average of $20.64. QuantumScape Co. has a 1-year low of $10.00 and a 1-year high of $43.08.

QuantumScape (NYSE:QS – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). During the same quarter last year, the business earned ($0.12) EPS. Sell-side analysts expect that QuantumScape Co. will post -0.85 earnings per share for the current year.

A number of research analysts have commented on QS shares. Morgan Stanley cut their price target on shares of QuantumScape from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 23rd. Sumitomo Mitsui Financial Group started coverage on shares of QuantumScape in a report on Tuesday, March 29th. They set a “neutral” rating and a $20.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of QuantumScape in a report on Tuesday, April 12th. They set a “hold” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of QuantumScape from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, February 22nd. Finally, UBS Group started coverage on shares of QuantumScape in a report on Friday, January 28th. They set a “neutral” rating and a $18.00 price objective for the company. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.33.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beacon Pointe Advisors LLC grew its holdings in QuantumScape by 24.9% during the 1st quarter. Beacon Pointe Advisors LLC now owns 27,778 shares of the company’s stock worth $555,000 after acquiring an additional 5,542 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of QuantumScape during the first quarter worth $141,000. Quantamental Technologies LLC bought a new position in shares of QuantumScape during the first quarter worth $377,000. Captrust Financial Advisors boosted its position in shares of QuantumScape by 77.8% during the first quarter. Captrust Financial Advisors now owns 12,456 shares of the company’s stock worth $249,000 after purchasing an additional 5,450 shares in the last quarter. Finally, State Street Corp boosted its position in shares of QuantumScape by 5.8% during the first quarter. State Street Corp now owns 3,181,037 shares of the company’s stock worth $63,589,000 after purchasing an additional 173,426 shares in the last quarter. 25.68% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Company Profile (Get Rating)

QuantumScape Corporation, a 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.

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