QuantumScape (NYSE:QS) Insider Michael Mccarthy III Sells 36,415 Shares of Stock

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 36,415 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $11.60, for a total transaction of $422,414.00. Following the completion of the transaction, the insider owned 137,888 shares of the company’s stock, valued at approximately $1,599,500.80. The trade was a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

QuantumScape Stock Up 2.0%

Shares of NYSE:QS opened at $12.10 on Thursday. QuantumScape Corporation has a 52 week low of $3.40 and a 52 week high of $19.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The company has a market cap of $7.27 billion, a PE ratio of -14.93 and a beta of 4.83. The firm has a 50 day simple moving average of $14.59 and a 200 day simple moving average of $9.90.

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

Wall Street Analyst Weigh In

Several research firms recently commented on QS. TD Cowen raised their price target on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $12.00 target price (up from $8.00) on shares of QuantumScape in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Finally, Cowen restated 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $8.81.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the company. Perbak Capital Partners LLP acquired a new stake in QuantumScape during the first quarter worth $353,000. Nuveen LLC acquired a new stake in shares of QuantumScape during the 1st quarter valued at about $2,819,000. Thames Capital Management LLC bought a new stake in QuantumScape in the second quarter valued at about $2,792,000. CacheTech Inc. acquired a new position in QuantumScape in the first quarter worth about $130,000. Finally, Private Advisory Group LLC raised its position in QuantumScape by 17.1% in the first quarter. Private Advisory Group LLC now owns 447,478 shares of the company’s stock worth $1,862,000 after purchasing an additional 65,237 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Company Profile

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.