QuantumScape Corporation (NYSE:QS) CTO Timothy Holme Sells 358,330 Shares

QuantumScape Corporation (NYSE:QS - Get Free Report) CTO Timothy Holme sold 358,330 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total transaction of $2,519,059.90. Following the completion of the transaction, the chief technology officer directly owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. The trade was a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 Monday, July 7th, Timothy Holme sold 43,500 shares of QuantumScape stock. The stock was sold at an average price of $7.02, for a total transaction of $305,370.00.
• On Thursday, July 3rd, Timothy Holme sold 98,073 shares of QuantumScape stock. The stock was sold at an average price of $7.03, for a total transaction of $689,453.19.

QuantumScape Price Performance

Shares of NYSE:QS traded up $0.15 during midday trading on Wednesday, reaching $8.33. 49,237,263 shares of the company were exchanged, compared to its average volume of 14,656,130. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. The business's fifty day moving average is $4.80 and its two-hundred day moving average is $4.75. QuantumScape Corporation has a one year low of $3.40 and a one year high of $9.52. The stock has a market cap of $4.66 billion, a PE ratio of -9.15 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period in the previous year, the company posted ($0.24) EPS. As a group, analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently modified their holdings of QS. Signaturefd LLC boosted its position in shares of QuantumScape by 2,086.1% during 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 last quarter. Heck Capital Advisors LLC bought a new position in shares of QuantumScape during the fourth quarter worth $26,000. Federated Hermes Inc. boosted its position in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after acquiring an additional 5,438 shares during the last quarter. Hollencrest Capital Management raised its stake in QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in QuantumScape during the fourth quarter valued at $29,000. Institutional investors own 29.87% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Robert W. Baird lowered their price target on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday. Finally, UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $5.19.

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.