Insider Selling: QuantumScape Corporation (NYSE:QS) CTO Sells 43,500 Shares of Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) CTO Timothy Holme sold 43,500 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $7.02, for a total transaction of $305,370.00. Following the transaction, the chief technology officer owned 1,661,928 shares in the company, valued at $11,666,734.56. The trade was a 2.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, July 7th, Timothy Holme sold 11,906 shares of QuantumScape stock. The stock was sold at an average price of $7.02, for a total transaction of $83,580.12.
• On Thursday, July 3rd, Timothy Holme sold 98,073 shares of QuantumScape stock. The shares were sold at an average price of $7.03, for a total transaction of $689,453.19.
• On Thursday, July 3rd, Timothy Holme sold 358,330 shares of QuantumScape stock. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90.

QuantumScape Stock Performance

QS stock traded up $0.13 during trading on Friday, hitting $9.22. 55,418,253 shares of the company traded hands, compared to its average volume of 14,723,787. QuantumScape Corporation has a 1 year low of $3.40 and a 1 year high of $9.77. The company has a market cap of $5.15 billion, a PE ratio of -10.13 and a beta of 4.42. The stock's 50-day simple moving average is $5.00 and its 200 day simple moving average is $4.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period last year, the business earned ($0.24) EPS. On average, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on QS shares. The Goldman Sachs Group dropped their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday. UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and cut their price target for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, Robert W. Baird decreased their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, QuantumScape currently has a consensus rating of "Hold" and a consensus price target of $5.19.

Institutional Trading of QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after acquiring an additional 5,841 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape during the 4th quarter valued at about $26,000. Federated Hermes Inc. increased its stake in shares of QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after purchasing an additional 5,438 shares in the last quarter. Hollencrest Capital Management raised its holdings in QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after purchasing an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in QuantumScape in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 29.87% of the company's stock.

QuantumScape Company Profile

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.