Insider Selling: QuantumScape Co. (NYSE:QS) Insider Sells 76,315 Shares of Stock

QuantumScape Co. (NYSE:QS) insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $399,127.45. Following the sale, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. The trade was a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

QuantumScape Trading Down 2.9 %

Shares of QuantumScape stock opened at $5.18 on Monday. QuantumScape Co. has a 52-week low of $4.65 and a 52-week high of $9.52. The stock’s 50-day simple moving average is $5.29 and its 200 day simple moving average is $5.40. The stock has a market capitalization of $2.65 billion, a P/E ratio of -5.51 and a beta of 4.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, research analysts anticipate that QuantumScape Co. will post -0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on QS shares. Evercore ISI lowered their target price on QuantumScape from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 18th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research note on Tuesday, November 19th. Finally, Truist Financial lowered their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.06.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings 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 buying an additional 2,148 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in QuantumScape during the 4th quarter valued at about $26,000. International Assets Investment Management LLC grew its holdings in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in QuantumScape during the 4th quarter valued at about $29,000. Finally, Blue Trust Inc. grew its holdings in QuantumScape by 208.8% during the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after buying an additional 4,556 shares in the last quarter. Hedge funds and other institutional investors 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.