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

QuantumScape Corporation (NYSE:QS) CTO Timothy Holme sold 75,000 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $4.54, for a total transaction of $340,500.00. Following the sale, the chief technology officer directly owned 1,522,261 shares of the company’s stock, valued at approximately $6,911,064.94. This represents a 4.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, October 5th, Timothy Holme sold 45,000 shares of QuantumScape stock. The stock was sold at an average price of $4.54, for a total transaction of $204,300.00.
• 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 Tuesday, September 15th, Timothy Holme sold 75,000 shares of QuantumScape stock. The stock was sold at an average price of $5.09, for a total value of $381,750.00.
• On Friday, August 21st, Timothy Holme sold 12,723 shares of QuantumScape stock. The shares were sold at an average price of $6.01, for a total value 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 value 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 value of $117,187.20.

QuantumScape Trading Down 2.8%

NYSE QS traded down $0.13 on Wednesday, reaching $4.52. 11,234,815 shares of the company were exchanged, compared to its average volume of 18,608,328. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $5.40 and its 200 day moving average price is $6.53. The stock has a market capitalization of $2.80 billion, a P/E ratio of -5.58 and a beta of 2.83. QuantumScape Corporation has a fifty-two week low of $4.45 and a fifty-two week high of $19.07.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. During the same period last year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Dimensional Fund Advisors LP lifted its stake in shares of QuantumScape by 134.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company’s stock valued at $36,570,000 after purchasing an additional 3,290,942 shares during the last quarter. Norges Bank acquired a new stake in shares of QuantumScape during the 4th quarter worth about $29,321,000. Clear Street Group Inc. purchased a new stake in QuantumScape in the 4th quarter valued at about $10,314,000. Bank of New York Mellon Corp purchased a new stake in QuantumScape in the 2nd quarter valued at about $9,619,000. Finally, AXQ Capital LP lifted its position in QuantumScape by 313.2% in the second quarter. AXQ Capital LP now owns 463,653 shares of the company’s stock valued at $3,505,000 after buying an additional 351,451 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

Analysts Set New Price Targets

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

About QuantumScape

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries for electric vehicles and other applications. Its technology is designed to replace conventional lithium-ion battery components, including the graphite anode, with a lithium-metal anode and a solid ceramic separator.

The company is developing battery cells intended to offer higher energy density, faster charging, improved safety and longer operating range than many conventional lithium-ion batteries.