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 QuantumScape stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the transaction, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

QuantumScape Price Performance

Shares of NYSE QS opened at $6.01 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. QuantumScape Co. has a 1-year low of $4.67 and a 1-year high of $10.03. The business has a 50-day moving average of $6.36 and a 200-day moving average of $5.87. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -6.26 and a beta of 4.59.

QuantumScape (NYSE:QS) last announced 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 period in the previous year, the company posted ($0.26) earnings per share. On average, equities analysts anticipate that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC grew its holdings in shares of QuantumScape by 56.0% during 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 in the last quarter. Mather Group LLC. bought a new position in QuantumScape in the 2nd quarter worth approximately $36,000. Alaska Wealth Advisors bought a new stake in shares of QuantumScape in the 2nd quarter worth approximately $49,000. StepStone Group LP acquired a new stake in QuantumScape during the fourth quarter worth $56,000. Finally, Financial Advocates Investment Management acquired a new stake in shares of QuantumScape during the 2nd quarter valued at about $58,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on QS shares. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.53.

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.