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

QuantumScape Co. (NYSE:QSGet 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:QSGet 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.

Further Reading

Insider Buying and Selling by Quarter for QuantumScape (NYSE:QS)

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