Timothy Holme Sells 75,000 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) CTO Timothy Holme sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $5.09, for a total value of $381,750.00. Following the completion of the sale, the chief technology officer owned 1,583,075 shares of the company’s stock, valued at $8,057,851.75. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Timothy Holme also recently made the following trade(s):

• On Tuesday, September 15th, Timothy Holme sold 45,000 shares of QuantumScape stock. The stock was sold at an average price of $5.09, for a total value of $229,050.00.
• On Friday, August 21st, Timothy Holme sold 12,723 shares of QuantumScape stock. The stock was sold at an average price of $6.01, for a total transaction of $76,465.23.
• On Wednesday, August 19th, Timothy Holme sold 21,531 shares of QuantumScape stock. The shares were sold at an average price of $5.76, for a total transaction of $124,018.56.
• On Wednesday, August 19th, Timothy Holme sold 20,345 shares of QuantumScape stock. The stock was sold at an average price of $5.76, for a total transaction of $117,187.20.
• On Thursday, July 2nd, Timothy Holme sold 34,254 shares of QuantumScape stock. The stock was sold at an average price of $7.28, for a total transaction of $249,369.12.
• On Thursday, July 2nd, Timothy Holme sold 102,991 shares of QuantumScape stock. The stock was sold at an average price of $7.28, for a total transaction of $749,774.48.

QuantumScape Stock Performance

Shares of NYSE QS traded up $0.16 during midday trading on Thursday, hitting $5.16. The company’s stock had a trading volume of 13,990,639 shares, compared to its average volume of 19,098,969. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. QuantumScape Corporation has a 1-year low of $4.77 and a 1-year high of $19.07. The firm’s fifty day moving average price is $5.70 and its 200-day moving average price is $6.73. The firm has a market cap of $3.19 billion, a P/E ratio of -6.37 and a beta of 2.68.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, sell-side analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, July 24th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $9.47.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently added to or reduced their stakes in the stock. Maven Securities LTD acquired a new position in shares of QuantumScape during the second quarter valued at $664,000. NewEdge Advisors LLC increased its holdings in shares of QuantumScape by 15.6% in the 2nd quarter. NewEdge Advisors LLC now owns 73,905 shares of the company’s stock worth $559,000 after acquiring an additional 9,995 shares during the period. Arizona State Retirement System increased its holdings in shares of QuantumScape by 10.5% in the 2nd quarter. Arizona State Retirement System now owns 126,992 shares of the company’s stock worth $960,000 after acquiring an additional 12,081 shares during the period. Nykredit A S bought a new stake in QuantumScape in the 2nd quarter valued at about $112,000. Finally, Corient Private Wealth LP lifted its position in QuantumScape by 43.2% in the 2nd quarter. Corient Private Wealth LP now owns 25,411 shares of the company’s stock valued at $192,000 after purchasing an additional 7,671 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Company Profile

QuantumScape Corporation (NYSE: QS) is a battery technology company developing solid-state lithium-metal batteries for electric vehicles and other energy-storage applications. Its technology is designed to replace the liquid electrolyte used in conventional lithium-ion batteries with a solid ceramic separator, with the goal of improving energy density, charging performance, safety and operating range.

The company is focused on designing, testing and scaling prototype cells rather than selling mass-produced batteries.