QuantumScape (NYSE:QS) CTO Timothy Holme Sells 75,000 Shares of Stock

Key Points

• QuantumScape CTO Timothy Holme sold 75,000 shares at an average price of $5.09, generating $381,750 and reducing his holdings by 4.52% to 1,583,075 shares.
• QuantumScape shares rose 3.2% to $5.16, but remain well below their 52-week high of $19.07; the company reported a quarterly loss of $0.16 per share, better than analyst expectations.
• Analyst sentiment remains cautious: TD Cowen cut its price target to $6 and assigned a hold rating, while the consensus rating is “Reduce” with an average target of $9.47.

QuantumScape Corporation (NYSE:QS - Get Free Report) CTO Timothy Holme sold 75,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $5.09, for a total value of $381,750.00. Following the sale, the chief technology officer owned 1,583,075 shares in the company, valued at $8,057,851.75. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Timothy Holme also recently made the following trade(s):

• On Tuesday, September 15th, Timothy Holme sold 45,000 shares of QuantumScape stock. The stock was sold at an average price of $5.09, for a total transaction of $229,050.00.
• On Friday, August 21st, Timothy Holme sold 12,723 shares of QuantumScape stock. The stock was sold at an average price of $6.01, for a total transaction of $76,465.23.
• On Wednesday, August 19th, Timothy Holme sold 21,531 shares of QuantumScape stock. The stock was sold at an average price of $5.76, for a total transaction of $124,018.56.
• On Wednesday, August 19th, Timothy Holme sold 20,345 shares of QuantumScape stock. The shares were sold at an average price of $5.76, for a total value of $117,187.20.
• On Thursday, July 2nd, Timothy Holme sold 34,254 shares of QuantumScape stock. The shares were sold at an average price of $7.28, for a total transaction of $249,369.12.
• On Thursday, July 2nd, Timothy Holme sold 102,991 shares of QuantumScape stock. The stock was sold at an average price of $7.28, for a total transaction of $749,774.48.

QuantumScape Stock Up 3.2%

QS stock traded up $0.16 during trading on Thursday, reaching $5.16. The stock had a trading volume of 13,990,639 shares, compared to its average volume of 19,098,969. QuantumScape Corporation has a 1-year low of $4.77 and a 1-year high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $3.19 billion, a P/E ratio of -6.37 and a beta of 2.68. The firm has a fifty day moving average price of $5.70 and a 200 day moving average price of $6.73.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. During the same period last year, the company earned ($0.20) EPS. The firm's revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

Separately, TD Cowen lowered their price objective on QuantumScape from $8.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, July 24th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $9.47.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Maven Securities LTD acquired a new position in QuantumScape during the 2nd quarter worth $664,000. NewEdge Advisors LLC raised its stake in shares of QuantumScape by 15.6% in the 2nd quarter. NewEdge Advisors LLC now owns 73,905 shares of the company's stock valued at $559,000 after purchasing an additional 9,995 shares in the last quarter. Arizona State Retirement System raised its stake in shares of QuantumScape by 10.5% in the 2nd quarter. Arizona State Retirement System now owns 126,992 shares of the company's stock valued at $960,000 after purchasing an additional 12,081 shares in the last quarter. Nykredit A S bought a new position in shares of QuantumScape during the second quarter worth about $112,000. Finally, Corient Private Wealth LP lifted its position in shares of QuantumScape by 43.2% during the second quarter. Corient Private Wealth LP now owns 25,411 shares of the company's stock worth $192,000 after purchasing an additional 7,671 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Company Profile

QuantumScape Corporation NYSE: QS is a battery technology company developing solid-state lithium-metal batteries for electric vehicles and other energy-storage applications. Its technology is designed to replace the liquid electrolyte used in conventional lithium-ion batteries with a solid ceramic separator, with the goal of improving energy density, charging performance, safety and operating range.

The company is focused on designing, testing and scaling prototype cells rather than selling mass-produced batteries.

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