Michael O. Mccarthy III Sells 76,315 Shares of QuantumScape Co. (NYSE:QS) Stock

QuantumScape Co. (NYSE:QS) insider Michael O. Mccarthy III sold 76,315 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the sale, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

QuantumScape Stock Performance

Shares of QS traded down $0.16 during midday trading on Friday, reaching $5.18. 15,076,086 shares of the stock were exchanged, compared to its average volume of 15,879,275. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $9.52. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.65 billion, a P/E ratio of -5.51 and a beta of 4.45. The stock’s 50 day simple moving average is $5.29 and its 200 day simple moving average is $5.40.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). On average, sell-side analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised its position in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares in the last quarter. Ieq Capital LLC lifted its stake in QuantumScape by 2.6% during the fourth quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after purchasing an additional 2,200 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in QuantumScape by 2.0% during the fourth quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after purchasing an additional 2,300 shares during the last quarter. Xponance Inc. boosted its holdings in shares of QuantumScape by 17.8% in the 4th quarter. Xponance Inc. now owns 15,862 shares of the company’s stock valued at $82,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of QuantumScape by 2.3% during the 4th quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock worth $578,000 after buying an additional 2,483 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Truist Financial decreased their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Finally, Evercore ISI decreased their target price on shares of QuantumScape from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.06.

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.