Michael O. Mccarthy III Sells 106,084 Shares of QuantumScape Co. (NYSE:QS) Stock

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

QuantumScape Stock Down 3.3 %

QuantumScape stock opened at $5.81 on Thursday. The company has a 50 day moving average of $6.36 and a 200-day moving average of $5.87. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a twelve month low of $4.67 and a twelve month high of $10.03. The stock has a market capitalization of $2.90 billion, a PE ratio of -6.05 and a beta of 4.59.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On QuantumScape

Large investors have recently bought and sold shares of the company. CWM LLC raised its holdings in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the last quarter. Mather Group LLC. acquired a new position in shares of QuantumScape during the 2nd quarter worth about $36,000. Alaska Wealth Advisors bought a new position in shares of QuantumScape in the 2nd quarter valued at about $49,000. StepStone Group LP acquired a new stake in shares of QuantumScape in the fourth quarter valued at about $56,000. Finally, Financial Advocates Investment Management bought a new stake in QuantumScape during the second quarter worth about $58,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.