Insider Selling: QuantumScape (NYSE:QS) Insider Sells 40,000 Shares of Stock

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 40,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $11.79, for a total value of $471,600.00. Following the transaction, the insider owned 137,888 shares in the company, valued at approximately $1,625,699.52. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

QuantumScape Price Performance

Shares of NYSE:QS traded up $0.24 during trading on Wednesday, reaching $12.10. 13,775,897 shares of the company traded hands, compared to its average volume of 29,206,498. The firm has a market capitalization of $7.27 billion, a PE ratio of -14.93 and a beta of 4.83. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $19.07. 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 company’s 50 day moving average is $14.55 and its two-hundred day moving average is $9.88.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). During the same period in the prior year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently bought and sold shares of QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Man Group plc bought a new position in QuantumScape in the 3rd quarter valued at approximately $44,421,000. Vanguard Group Inc. raised its holdings in QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock valued at $147,064,000 after buying an additional 2,911,362 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in QuantumScape during the 3rd quarter worth approximately $33,962,000. Finally, BNP Paribas Financial Markets grew its holdings in QuantumScape by 2,036.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock worth $16,483,000 after acquiring an additional 2,338,038 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on QS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. TD Cowen raised their target price on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Evercore ISI reissued an “in-line” rating and set a $12.00 price target (up previously from $8.00) on shares of QuantumScape in a report on Monday. HSBC lowered QuantumScape from a “hold” rating to a “reduce” rating and raised their price objective for the company from $5.30 to $10.50 in a research note on Wednesday, November 19th. Finally, Cowen reissued a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.81.

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.