Michael O. Mccarthy III Sells 76,315 Shares of QuantumScape Co. (NYSE:QS) Stock

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

QuantumScape Stock Down 2.9 %

Shares of NYSE QS opened at $5.18 on Friday. QuantumScape Co. has a 52-week low of $4.65 and a 52-week high of $9.52. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5.51 and a beta of 4.45. The stock has a 50 day moving average price of $5.29 and a 200 day moving average price of $5.40. 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 issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Sell-side analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Signaturefd LLC raised its holdings in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in QuantumScape during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC raised its stake in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in QuantumScape during the fourth quarter worth $29,000. Finally, Blue Trust Inc. boosted its position 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 acquiring an additional 4,556 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on QS. Evercore ISI reduced their price objective on shares of QuantumScape from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. Truist Financial reduced their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, 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. One 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 company. 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.