Insider Selling: QuantumScape Co. (NYSE:QS) Insider Sells $399,127.45 in Stock

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

QuantumScape Stock Performance

NYSE QS opened at $5.18 on Monday. The company has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $5.40. QuantumScape Co. has a 12-month low of $4.65 and a 12-month high of $9.52. The company has a current ratio of 14.07, a quick 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.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Sell-side analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuantumScape

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. Truist Financial reduced their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Evercore ISI reduced their price objective on shares of QuantumScape from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, QuantumScape 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.