QuantumScape Co. (NYSE:QS) Insider Sells $1,463,892.08 in Stock

QuantumScape Co. (NYSE:QS) insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total value of $1,463,892.08. Following the completion of the sale, the insider now owns 1,283,847 shares of the company’s stock, valued at $8,447,713.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

QuantumScape Stock Performance

QS opened at $6.05 on Friday. QuantumScape Co. has a 52-week low of $4.67 and a 52-week high of $10.03. The company has a quick ratio of 10.38, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.02 billion, a P/E ratio of -6.30 and a beta of 4.61. The firm’s 50-day moving average price is $6.05 and its 200-day moving average price is $6.12.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the previous year, the business posted ($0.26) EPS. As a group, equities analysts anticipate that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on QS. UBS Group reduced their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Truist Financial reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.45.

Hedge Funds Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of QS. Spire Wealth Management increased its holdings in shares of QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. CWM LLC boosted its position in 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 buying an additional 2,556 shares during the last quarter. Mather Group LLC. purchased a new stake in QuantumScape in the second quarter valued at approximately $36,000. International Assets Investment Management LLC boosted its position in QuantumScape by 595.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after buying an additional 5,296 shares during the last quarter. Finally, Alaska Wealth Advisors purchased a new stake in QuantumScape in the second quarter valued at approximately $49,000. 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.