Insider Selling: QuantumScape Co. (NYSE:QS) Insider Sells $625,895.60 in Stock

QuantumScape Co. (NYSE:QS) insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the sale, the insider now directly owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

QuantumScape Stock Down 3.3 %

NYSE QS opened at $5.81 on Thursday. QuantumScape Co. has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -6.05 and a beta of 4.59. The stock’s 50 day moving average is $6.36 and its two-hundred day moving average is $5.87. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the company posted ($0.26) earnings per share. Equities analysts forecast that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QS. Truist Financial restated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Monday, August 5th. Wolfe Research initiated coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, QuantumScape presently has an average rating of “Hold” and an average price target of $5.95.

Institutional Trading of QuantumScape

Several hedge funds have recently modified their holdings of QS. Vanguard Group Inc. boosted its holdings in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after acquiring an additional 656,646 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after purchasing an additional 3,004,964 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of QuantumScape by 10.3% in the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after purchasing an additional 251,186 shares in the last quarter. Norges Bank bought a new position in QuantumScape in the 4th quarter worth approximately $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University lifted its holdings in QuantumScape by 5.2% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock worth $18,144,000 after buying an additional 129,239 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.