Michael Mccarthy III Sells 30,000 Shares of QuantumScape (NYSE:QS) Stock

Key Points

• Michael Mccarthy III sold 30,000 shares of QuantumScape at an average price of $6.90 for about $207,000, trimming his holding by 2.91% to 999,219 shares (≈$6.89M).
• QuantumScape traded near $6.69 with a 52-week range of $3.40–$19.07, a market cap of roughly $4.02B, and a negative P/E of -8.26 (50-day MA $9.05, 200-day MA $11.31).
• Wall Street consensus is a "Reduce" rating with a $8.98 target, while institutional activity is notable (UBS raised its stake to ~4.76M shares) and institutions now own about 29.9% of the company.

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Michael Mccarthy III sold 30,000 shares of QuantumScape stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $6.90, for a total transaction of $207,000.00. Following the completion of the transaction, the insider directly owned 999,219 shares in the company, valued at $6,894,611.10. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

QuantumScape Stock Performance

Shares of QS traded down $0.23 during mid-day trading on Friday, hitting $6.69. 11,779,667 shares of the company's stock were exchanged, compared to its average volume of 15,293,635. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $19.07. The business's 50 day moving average is $9.05 and its two-hundred day moving average is $11.31. The firm has a market capitalization of $4.02 billion, a P/E ratio of -8.26 and a beta of 2.51.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The firm's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in QuantumScape during the first quarter worth approximately $321,000. NewEdge Advisors LLC raised its holdings in shares of QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock worth $88,000 after purchasing an additional 7,111 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Teacher Retirement System of Texas boosted its position in QuantumScape by 7.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 61,065 shares of the company's stock worth $410,000 after purchasing an additional 4,227 shares during the period. Finally, Arkadios Wealth Advisors acquired a new stake in shares of QuantumScape in the second quarter valued at about $87,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QS. HSBC upgraded shares of QuantumScape from a "reduce" rating to a "hold" rating and lowered their price objective for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. TD Cowen reiterated a "hold" rating on shares of QuantumScape in a research note on Wednesday, February 18th. Evercore restated an "in-line" rating and issued a $12.00 price objective (up from $8.00) on shares of QuantumScape in a research report on Monday, November 24th. Morgan Stanley lowered their price objective on QuantumScape from $12.00 to $8.50 and set an "equal weight" rating on the stock in a report on Wednesday, February 18th. Finally, Robert W. Baird set a $12.00 target price on QuantumScape in a research note on Thursday, February 12th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, QuantumScape presently has a consensus rating of "Reduce" and a consensus target price of $8.98.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company's core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape's product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.

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