Insider Selling: QuantumScape (NYSE:QS) Insider Sells 38,035 Shares of Stock

Key Points

• Insider Michael Mccarthy III sold 38,035 shares of QuantumScape's stock at an average price of $9.13, resulting in a total transaction value of approximately $347,259.55.
• QuantumScape's stock has traded down to $10.16, with a twelve-month trading range of $3.40 to $15.03 and significant institutional investment increases reported from several firms.
• Analysts currently maintain a cautious outlook, with an average rating of “Reduce” and a consensus target price of $5.88 for QuantumScape shares amid modest performance expectations.

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Michael Mccarthy III sold 38,035 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $9.13, for a total transaction of $347,259.55. Following the transaction, the insider directly owned 1,397,382 shares of the company's stock, valued at approximately $12,758,097.66. This represents a 2.65% 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 Performance

QuantumScape stock traded down $0.20 on Tuesday, reaching $10.16. 41,271,346 shares of the stock were exchanged, compared to its average volume of 23,307,146. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape Corporation has a twelve month low of $3.40 and a twelve month high of $15.03. The firm has a fifty day moving average price of $9.39 and a two-hundred day moving average price of $6.14.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter in the prior year, the business earned ($0.25) earnings per share. As a group, analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in QuantumScape by 456.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock worth $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Vanguard Group Inc. boosted its position in QuantumScape by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock worth $147,064,000 after acquiring an additional 2,911,362 shares during the last quarter. BNP Paribas Financial Markets boosted its position in QuantumScape by 2,036.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock worth $16,483,000 after acquiring an additional 2,338,038 shares during the last quarter. JPMorgan Chase & Co. boosted its position in QuantumScape by 1,005.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company's stock worth $13,323,000 after acquiring an additional 1,803,196 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in QuantumScape by 148.0% during the 2nd quarter. Bank of America Corp DE now owns 2,803,989 shares of the company's stock worth $18,843,000 after acquiring an additional 1,673,472 shares during the last quarter. Institutional investors own 29.87% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on QS shares. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Robert W. Baird upped their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $5.88.

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.

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