Insider Selling: QuantumScape (NYSE:QS) Insider Sells $789,000.00 in Stock

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $15.78, for a total transaction of $789,000.00. Following the sale, the insider directly owned 1,376,118 shares of the company’s stock, valued at $21,715,142.04. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

QuantumScape Price Performance

Shares of QS opened at $18.40 on Monday. The company has a market capitalization of $11.06 billion, a P/E ratio of -22.72 and a beta of 4.83. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $12.64 and a 200 day moving average of $8.66. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $19.07.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. TD Cowen boosted their price target on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday. Cowen restated a “hold” rating on shares of QuantumScape in a report on Thursday. Robert W. Baird boosted their target price on shares of 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 shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Eight analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $7.66.

Institutional Investors Weigh In On QuantumScape

Several 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 acquiring an additional 5,841 shares during the last quarter. Russell Investments Group Ltd. increased its stake in QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after purchasing an additional 3,311 shares in the last quarter. Federated Hermes Inc. increased its stake in QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after purchasing an additional 5,438 shares in the last quarter. Hollencrest Capital Management increased its stake in shares of QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 5,000 shares during the period. Finally, North Capital Inc. acquired a new stake in shares of QuantumScape in the second quarter worth $27,000. Hedge funds and other 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.