QuantumScape (NYSE:QS) Insider Michael Mccarthy III Sells 20,435 Shares

QuantumScape Corporation (NYSE:QS) insider Michael Mccarthy III sold 20,435 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $16.12, for a total value of $329,412.20. Following the sale, the insider directly owned 137,888 shares in the company, valued at $2,222,754.56. The trade was a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

QuantumScape Trading Down 7.7%

Shares of NYSE:QS traded down $1.23 during trading on Wednesday, hitting $14.68. The company had a trading volume of 35,998,933 shares, compared to its average volume of 29,419,998. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of -18.13 and a beta of 4.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The company has a fifty day simple moving average of $13.79 and a two-hundred day simple moving average of $9.26. QuantumScape Corporation has a one year low of $3.40 and a one year high of $19.07.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of ($36.67) million for the quarter. During the same quarter in the previous year, the firm earned ($0.23) EPS. As a group, equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Trading of QuantumScape

Several large investors have recently added to or reduced their stakes in QS. Aptus Capital Advisors LLC purchased a new stake in QuantumScape in the third quarter valued at approximately $143,000. United Capital Management of KS Inc. boosted its holdings in QuantumScape by 100.0% in the third quarter. United Capital Management of KS Inc. now owns 20,000 shares of the company’s stock valued at $246,000 after purchasing an additional 10,000 shares during the last quarter. Cresset Asset Management LLC acquired a new position in shares of QuantumScape in the 3rd quarter valued at about $163,000. Kingsview Wealth Management LLC purchased a new stake in shares of QuantumScape in the third quarter worth about $193,000. Finally, Handelsbanken Fonder AB raised its position in QuantumScape by 29.2% during the third quarter. Handelsbanken Fonder AB now owns 154,600 shares of the company’s stock valued at $1,905,000 after acquiring an additional 34,900 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

QS has been the topic of several recent analyst reports. TD Cowen increased their price target on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, October 30th. Robert W. Baird boosted their price target on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Cowen reissued a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the company a “hold” rating in a research note on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.66.

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.